Carolina Postal Credit Union
By Joyce Moed, Reporter

CHARLOTTE, N.C.–Carolina Postal Credit Union here says smaller CUs face the same dilemmas larger CUs face–mainly less resources, including budget, time and staff.

"Consequently we have to be more innovative in getting our message out to our members," said Deb McLean, VP, marketing and business development for the $62-million credit union.

Carolina Postal CU is doing this by gearing up its staff and becoming more aggressive in marketing, McLean noted.

"And communicating with our members our strengths and our determination to make loans to them to help them survive this economic storm," she said.

The credit union’s members are concerned, but calm, McLean said.

"However some senior members are nervous and looking for reassurances from us–even if they don’t ask us directly," she said. "The questions and concerns are still there in their minds."

The CU leadership has reacted to this by coaching and encouraging its staff on how to answer members’ questions, "and to look for ways to be calm and reassuring," McLean said.

"Our staff has spent a lot of time referring our members to our investment and financial counselor," she said. "He has mainly spent his time holding hands and making reassurances."

McLean said that the CEO has also been more pro-active than usual, "reaching out to the staff and making calm and steady reassurances to any concerns they might have expressed."

As for the future of smaller credit unions facing this tough economic storm, McLean is optimistic.
"Actually since so many smaller credit unions are ‘over’ capitalized, they may be in a stronger position than they realize," she advised. "Plus having that closer person-to-person connection to the member is another advantage that larger credit unions may be struggling with currently."