Gentile Outlines Importance of CUs’ Cooperative Principles in CUinsight Column

Monday, March 19, 2012 11:01:00 AM

HIGHTSTOWN, N.J. – New Jersey Credit Union League President/CEO Paul Gentile discusses the importance of getting credit unions’ cooperative message out there to consumers in his latest column featured on CUinsight.

In the column, titled “Key Question to Ask Yourself About Today’s Credit Union Movement”, Gentile poses the question, “Do people care about out cooperative principles?” With continuing backlash from banks’ upping their fees, Gentile believes credit unions should strike while the iron is hot. 

“We are in a marketplace now where fees are going from being almost invisible, buried in the fine print, to very transparent,” Gentile points out. “It’s a viral world now for fees. You can’t hide them. Consumers are tired of being nickled and dimed by giant corporations. Credit unions have a good story to tell on fees and overall value.”

Credit unions need to get their message out there on a grand scale, according to Gentile. “At the basic of levels, credit unions should be singing from the same song sheet as to what our collected value proposition is to the consumers,” says Gentile.

He then goes on to point out NJCUL’s effort to build consumer awareness throughout the state with its “Banking You Can Trust” campaign, which Gentile believes should be happening on a grander scale. 

“We’ve made strides on consumer awareness with Bank Transfer Day and efforts like aSmarterChoice.org, but we need to do a better job aligning on the cooperative messaging we deliver.”

Gentile is a regular contributor to CUinsight. Look for his articles and op-ed, educational, and informative contributions throughout the year on the CUinsight Web site www.cuinsight.com

Gentile’s column can be found in its entirety here.

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