The Biggest Credit Union Social Media Study Ever

There is little doubt that social media is here to stay. As the list of organizations jumping on the bandwagon grows every second, the same business questions continue to arise:

• How do we execute it effectively?
• How do we justify the time and personnel expense (ROI)?
• How do we use it to support other initiatives?

To answer these questions, Callahan & Associates Internet Strategy Consortium conducted a social media survey involving over 11,000 credit union members.

Key Fact: This is the most comprehensive social media study ever conducted in the credit union industry.

The study measured members’ use of social media, including visited sites and online activities, communication preferences and desired topics on social media sites. Among the findings:

• More than 82% of credit union members ages 18-60+ use Facebook.
• About half of all members surveyed said they would read a credit union’s Facebook page periodically.
• Among credit unions with a Facebook presence, only 5-16% of their members were aware their credit union had a fan page. Most members reported learning of Facebook pages through credit union websites.
• Of Twitter users, 34% use it to follow companies with which they do business.
• Twitter’s overall familiarity among members was 14%, but only 2-7% reported being "very familiar" with the service.
• Members using Twitter expect their credit union to provide information such as fraud alerts (71%), special offers (60%), financial tips (58%), and rate specials (57%).
• Nine-in-ten online members are interested in receiving email from their credit union.