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Article Image: Customer Stories Aren’t Created Equally

Customer Stories Aren’t Created Equally

A recent Citi Card ad campaign focuses on customers’ stories. In one, a 20-something tells her story: “I don’t cook. So I made my eat-in-kitchen a fabulous walk-in closet. Since I enjoy a day of shopping far more than cooking, I decided to do a bit of home remodeling. With my Citi card in hand, […]

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Article Image: Credit Unions: Who’s On Your Board Of Directors?

Credit Unions: Who’s On Your Board Of Directors?

A recent article in CU Times claims that Trey Reeme of Texas Dow Employees CU in Lake Jackson, TX suggested that: “60-plus-year old directors looking at the industry’s future should seriously consider stepping down to make way for a generation more connected to new technology.” My take: This is a ridiculous recommendation, and a careless […]

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Article Image: Announcing The First Annual Crabby Awards (Part I)

Announcing The First Annual Crabby Awards (Part I)

In case you missed it, the annual Webby awards were announced recently, and once again I’m left with the same thought I’m left with every year: “HUH?!@# What the hell were they thinking?!@#.” To rectify matters, I’m pleased to announce the winners of the first annual Crabby awards, honoring the sites that should have been […]

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Article Image: Notes From FinovateStartup 2008

Notes From FinovateStartup 2008

Congrats to Jim Bruene from NetBanker. FinovateStartup attracted a great group of attendees (including representatives from financial services firms, analysts, bloggers, consultants, and vendors), the venue was good, and the format was refreshingly different. While the presenters represented a wide range of firms, they did fall into a few broad groups, including: Mobile finance. There […]

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Article Image: More Fodder For The Branches Versus Online Channel Discussion

More Fodder For The Branches Versus Online Channel Discussion

Everywhere I turn, I keep reading things like this from Vernon Hill, former CEO of Commerce Bank: The bank branch is the cornerstone, not the millstone, of retail banking. The point of a bank branch is to reflect your brand and to open new relationships. How do you build a relationship with a machine?” But […]

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Article Image: Choose Your Enemies Carefully

Choose Your Enemies Carefully

In a great post on his blog, Jeff Larche wrote: I tell the students how fortunate they are to be born in a time when other revolutionary technologies are emerging (which, together, become a sort of digital connectedness). They, and I, are part of a exciting adventure.” Jeff goes on to quote Gord Hotchkiss, who […]

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Article Image: Tase Me, Bro

Tase Me, Bro

I’m hardly one to be on the leading edge of things. My favorite music is 35 years old. I heard someone mention the word “emo” the other day, and I assumed they were talking about Emo Phillips. So it’s pretty amazing that I’m on the leading edge in that I not only know what Twitter […]

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Article Image: BofA Grabs for Olympic Rings

BofA Grabs for Olympic Rings

The Beijing Games are scheduled to start four months from now, but that’s not stopping Bank of America from jumping on the bandwagon early. The effort centers around an online video contest to see who has the best Olympic cheer. “America’s Cheer,” as the campaign is called, includes a microsite, Facebook page and Flickr set. […]

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Article Image: Online Banking's Looming Measurement Crisis

Online Banking's Looming Measurement Crisis

According to research done by Aite Group, generating sales is the most important business goal for banks’ online banking efforts. And an overwhelming majority of banks say that ROI is a critical measure for determining which features and functions they roll out on their sites. But nearly three-quarters of banks say that they can’t establish […]

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Article Image: Interesting Phishing Attempt

Interesting Phishing Attempt

I received the following phishing attempt a few days ago: Dear NCUA Credit Union Member, Recently, there have been multiple e-mail fraud attempts, known as “Phishing”, that were initiated via e-mail sent to both the general public and some credit union members, that appeared to be from NCUA. This false e-mail asked for the recipient […]

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Article Image: Glimpses Into BarCampBank New England

Glimpses Into BarCampBank New England

I don’t want to say that these are the “highlights” of BCBNE, because it might imply that I think that something I don’t include here wasn’t good. Not the case. I hope other attendees will fill in the gaps that I leave open with this post. For me, the day was a glimpse into: 1. […]

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Article Image: Merger creates naming hassles for TD

Merger creates naming hassles for TD

TD merger triggers lawsuit; landmark stadium needs renaming Renaming Boston’s Garden The merger between TD Banknorth and Commerce Bank means the name of ‘TD Banknorth Garden’ will probably have to change. “For sure the ‘Garden’ will remain there, and what version of ‘TD’ goes in front of it is the question,” said Bharat Masrani, TD […]

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Article Image: Fun With Numbers

Fun With Numbers

As reported in Direct magazine (which I’m sure has no vested interest), the Direct Marketing Association released a report which found that, in 2007, US banks and credit institutions spent $13.4 billion on direct marketing advertising, and [allegedly] generated $178.8 billion in sales on that investment. My trusty, handy-dandy, Windows XP-supplied calculator tells me that […]

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Article Image: Today's Social Network Is Yesterday's

Today's Social Network Is Yesterday's

Dateline: April 2008, Toronto, Canada Scotiabank announced that it is using technology from Microsoft to introduce an internal Web 2.0 social networking platform aimed at encouraging information sharing and collaboration among its staff. Robert Fournier, SVP, Enterprise Architecture and Methodology, Scotiabank, said: “By leveraging the knowledge and experience of the Scotiabank team with a business […]

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Article Image: Two banks merge and become ‘StellarOne’

Two banks merge and become ‘StellarOne’

Virginia Financial Group and First National Bank just completed a merger. The two banks were similarly sized, and when there’s a merger of equals, one of three things happens: The two banks mashup their names, like ‘Virginia National’ or ‘Virginia First.’ This is the most common route merged banks choose. One of the two banks […]

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Article Image: Retirement Planning Marketing Suffers From The Blepfard Effect

Retirement Planning Marketing Suffers From The Blepfard Effect

Think back, for a moment, to when blepfards were introduced. Remember what they felt like in your hands? Remember what they felt like next to your skin? Of course you don’t. Blepfards don’t exist. And because they don’t exist, trying to imagine what it’s like to hold it and feel it is a fruitless effort. […]

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Article Image: Bank’s ads about “tough times” coincide with its first loss

Bank’s ads about “tough times” coincide with its first loss

Last Wednesday was a big day for County Bank. First, the bank unveiled a new ad campaign with the tagline “Times are tough.” Indeed times are tough…especially for the bank. Later that day, County Bank posted its first-ever loss — $4 million. That caused their share price to drop 64%, which was the biggest loss […]

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Article Image: Wauwatosa customers vote for ‘WaterStone’ name

Wauwatosa customers vote for ‘WaterStone’ name

The customers have spoken: ‘WaterStone’ it is. Back in February, Wauwatosa Savings invited its customers to help pick a new name for the bank. Customers had the until the end of the month to choose between three semi-finalists provided by the bank’s management: ‘Granite Bank,’ ‘WaterStone Bank’ and ‘Security First Bank.’ (Previous coverage from The […]

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Article Image: Greeter is center stage in new branch’s open floor plan

Greeter is center stage in new branch’s open floor plan

The latest branch for Delta Community Credit Union, its tenth, features an open floor plan starring a greeter station in the middle of all the action. The branch’s operational model is similar to the one used in many Bank of America locations. The credit union will occupy 10,000 of the building’s 100,000 square feet and […]

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Article Image: Marketing Whims For 3/23

Marketing Whims For 3/23

Apparently, Sony wants customers to pay $50 to remove “crapware” from its TZ2000 PC before they take delivery of it. My take: I missed the announcement that Sony had hired a former bank executive to run marketing. ——————————————————————————————————————————————— DM News reports that “lingerie retailer YumDrop has selected social commerce services firm PowerReviews to power customer […]

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Article Image: What Will Canada’s 3rd Largest Credit Union Be Called?

What Will Canada’s 3rd Largest Credit Union Be Called?

Members of Alberta’s three largest credit unions have voted overwhelmingly in favor of a merger: + Servus [ 60 branches | 195,000 members | $4.75 billion | 900 employees ] + Community Savings [ 30 branches | 110,000 members | $2.5 billion | 640 employees ] + Common Wealth [ 15 branches | 52,000 members […]

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Article Image: Branch Design 101

Branch Design 101

“Nothing will sour a member’s experience more quickly than waiting in line for a service you provide in another part of your branch.” — Greg Gray, IBT An article on branch design from CUNA’s Credit Union Magazine offers these very practical insights on shaping your brand experience: Experiences don’t just happen — you must plan […]

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Article Image: Retirement Planning Marketing Suffers From The Blepfard Effect

Retirement Planning Marketing Suffers From The Blepfard Effect

ING and Wells Fargo recently launched new, remarkably similar, sites [calculators? ads?] focused on retirement planning. ING’s site builds on the book The Number by Lee Eisenberg, and asks site users six questions in order to calculate their “number.” Wells Fargo’s Retire Secure Index is very similar, but also factors in current savings. Instead of […]

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Article Image: Places To Go, People To See

Places To Go, People To See

Shameless plugs for upcoming events you should be at: BarCampBankNE. April 5 at America’s Credit Union Museum in Manchester, NH. The un-conference conference. I’m really looking forward to finally participating in one of these. Wondering if I’ll be able to contain my tendencies toward being overtly opinionated and confrontational. We’ve got 12 people registered so […]

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Article Image: We Regret To Inform You

We Regret To Inform You

My CFO (Mrs. Shevlin) tells me that, while we are in no danger of going out of business, we need to do something to improve our bottom line. So, there are going to be some changes around here (this blog, that is). Dear Valued Reader: Due to blogging business conditions, we must institute some policy […]

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Article Image: Quien Es Mas Stupido? Volume Dos

Quien Es Mas Stupido? Volume Dos

It’s been a while since we last played Quien Es Mas Stupido? Here are today’s contestants: Contestante Numero Uno: A large, diversified financial services firm. I have a 401(k) account from a previous employer with this FI, and I decided to roll it over into an IRA (and rollover another old 401(k) into it as […]

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Article Image: How Many Wealthy Are On Web 2.0?

How Many Wealthy Are On Web 2.0?

The Luxury Institute released a press release highlighting results of a recent online survey it did of 805 wealthy American consumers (average income $287k, average net worth $2.1 million). According to the study: Wealthy consumer participation in online social networks dramatically increased to 60% in 2008, from 27% in 2007. Participation levels in leading social […]

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Article Image: Everything That's Wrong In The World Is FICO's Fault

Everything That's Wrong In The World Is FICO's Fault

While putting away some of the leftovers from dinner the other night, I pulled a dish out of the cupboard, and before I knew it, it fell to the floor and broke. I’m pretty sure it was FICO’s fault. (You read that right, FICO — as in the Fair Isaac credit score). Why was it […]

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Article Image: Net Promoter Score: The Barack Obama Of The Management World

Net Promoter Score: The Barack Obama Of The Management World

The Net Promoter Score is the Barack Obama of the management world. I’ll explain: According to what I’ve read, Barack Obama has received a free pass in the press. So does NPS. Although management observers/bloggers like Tom Peters and Joe Jaffe have lauded the methodology, few seem to look at the ROI of implementing the […]

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