Is your credit union trustworthy?

Building trust helps business. In fact, many consumers will overlook higher costs if they think they can trust you. 

With large tech companies’ identity theft and data breaches uncomfortably too common lately, faith in online business has taken a beating.

Savvy credit unions should see this as an opportunity to stand out. By taking the opportunity to show how you’re different, you can leverage consumer trust and build relationships. 

Here are a number of ways you can flex those good neighbor muscles: 

Be authentic and genuine.

A common way to build trust is to be transparent about how your credit union operates. People are genuinely interested in how you do business and what your brand stands for. The more they know about your workflow, the easier it’ll be to trust you. 

You can do this by highlighting your business online through video and social media. Remember, not every photograph or video has to be perfect. Candid images offer members a behind-the-scenes look and can humanize your brand. 

Building authenticity can also include adding featured press releases, testimonials, influencer postings, and reviews of your services. These options help members see that your credit union is legitimate and others have trusted you with their finances.

Attach a face to your credit union.

People also tend to trust a brand when they see a real person connected to the brand. Consider using real people and professional details on your website so people get to know who you are. Avoid the fake glassy-eyed stock photo people. 

You can also offer educational webinars, interviews, and videos to share free information. This will help improve your trust relationship and develop familiarity with your staff.  

Be consistent and walk the talk

Your brand’s consistent message allows people to understand what you are about. People are more likely to trust a credit union that doesn’t send confusing, mixed messages, and brands need to remember that actions speak louder than words.

Your credit union’s actions need to show that you understand what your members want and need from you. Business endeavors that coordinate with your credit union brand will exponentially boost marketing efforts and build a more trustworthy reputation.

Credit unions have a natural advantage since they’re local; they can easily make new connections all around town. Since you are a local business, don’t limit your interactions with people to your branches. Invest time and resources in your local community through charitable, goodwill events, sponsorships, and community outreach.

Keep your focus on the moment

To stand out from the rest, you need to go beyond claiming great products and services. Trust begins by keeping the business promises you make and delivering superhuman member service. In today’s business culture, this is now the lowest bar for member experience and what they expect.

You and your staff should treat everyone as you would want to be treated. This may take the form of friendly, personable human interaction or a simple online demo of a new product. Positive experiences plant the seeds for future visits and long-lasting trust.

Relevance is another strong way to excel here, which means providing products or services personalized to member needs. However, like any relationship, building trust takes time. An effective way to nurture trust is by doing what you promise and improving the personalized experience. 

Make everyone feel secure.

People should feel safe when they bank with you. Before you ever see them in-person, they will visit your website to research you first. The perception of safety they experience on your website affects how much they trust your brand. 

Below are some website items to enhance your credit union’s trust factor:

  • Make sure your website is backed by Grade-A secure hosting 
  • You use SSL website encryption to protect personal data 
  • Be sure your website uses best Accessibility practices
  • A Terms of Service and Privacy Policy are available and easy to find
  • Industry certifications or known compliance seals are displayed 

Communicate and be accessible.

Your credit union must always be available for the people that need your products or services. Including a phone number to talk to a live person or using a live chatbot to answer customer questions are solutions that build trust. People like that they can speak with a live person anytime that’s convenient to them. Making it easier for customers to connect helps them bank faster and trust your expertise.

Is trust worth it?

Building trust takes time and effort, but everyone can reap the benefits of the halo effect that comes with faith in your credit union. 

Members will not only be more likely to be repeat buyers and loan applicants, but they’ll also be more likely to give word-of-mouth referrals, which are worth their weight in gold.

The more consistent you are in managing trust and building your brand perception, the better your member loyalty and reputation will be. 

Jon Cooper
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