Building a Credit Union Marketing Plan and Budget

Sep 15
Samantha Strickland
Budgeting Magic: Conjuring the Budgeting Dollars You Need

It’s budgeting season and chances are you’re feeling overwhelmed. You’re not alone. Thanks to a worldwide pandemic, credit unions are at a crossroads. Oftentimes, marketing budgets are one of the first things to be cut when budgets are being cut. But, perhaps now more than ever, it’s time to stand out. Join us for a FREE webinar to secure the marketing dollars you need to gain and sustain momentum in the marketplace. Details below.

Join us for a FREE Webinar: Building a Credit Union Marketing Plan and Budget
Wednesday, September 23, 2020 at 2 PM EST


Every credit union approaches budgeting differently. For some, it's a rubber stamp process: “Add 5% to last year. Job done! Woohoo! Let’s go get martinis!” For others, it's a complicated process that’s all about sharpening pencils and cutting expenses to the bone. In a perfect world, your marketing plan goes hand-in-hand with your strategic plan and overall goals. 

Get Your Hands on that Strategic Plan. If you don’t currently have the credit union’s strategic plan easily accessible at your fingertips, get up and go get it. Seriously...right this second. I’ll wait. OK, when you look at it, how many initiatives have brand impact? Chances are most, if not all, have some level of external or internal brand significance. Perhaps the credit union is planning for a core conversion or updating ATMs in the drive throughs. Maybe the focus is on increasing the profitability of your loan portfolio or finding new sources for non-interest income. Every one of these examples has major brand impact. You must build your plan for how you are going to support the goals and initiatives BEFORE you submit your budget so you can justify why you need the budget you’re recommending. 

Keep in mind, due to the pandemic, goals may have shifted since your team built the strategic plan last year. Be proactive with your CEO (or to whomever you report) to ask questions about any potential updates to the plan since it was written. Let them know you’re basing your marketing budget recommendations on the overall strategic plan and that now it is the time to lean into new revenue opportunities, not pull back. Cutting marketing dollars now as a way to strengthen the bottom line is a short-sighted approach. Any good leader will appreciate your initiative.

While we can’t always plan for “unprecedented times,” proper planning will ensure you can recommend the appropriate budget to meet your goals and have a “just in case” fund ready for the unexpected. Your chances of success greatly increase by having a methodology for your budgeting process. Even if you don’t end up with the exact budget you request, your CEO will be impressed by the level of thoughtfulness you put into your plan.

Want to learn the step-by-step magic formula to increase your budget? Join us for our upcoming webinar:

“Budgeting Magic: Conjuring the Marketing Dollars You Need."

Wednesday, September, 23rd at 2:00 PM EST
Register Today
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Why take advice from us?

The Pod Advertising is a credit union marketing agency with over 85 years of collective industry experience. We LOVE credit unions, and we KNOW credit unions. We've been in your shoes. We understand that you’re not just selling checking accounts and mortgages. You’re changing lives. That’s our secret sauce. It's why we've been able to help credit unions like yours identify and resolve marketing and operational challenges through insightful knowledge, experience, lots of coffee, and hard-work.

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