Informal research conducted by The Financial Brand indicates a significant increase in the utilization of the popular video-sharing tool YouTube within the credit union industry. Still, the relatively small number of financial institutions that have YouTube accounts is very surprising.
[Note: This is a companion piece with today’s other story, “The Weirdest Credit Union Videos on YouTube.”]
Search results for “credit union” on YouTube went up 356% over a one-year period:
- January 2008: 772 videos
- January 2009: 2,750 videos
Google Video results for “credit union” increased 310% for the same period:
- January 2008: 1,069 videos
- January 2009: 3,320 videos
Credit unions are using sites like YouTube for a range of purposes:
- Sharing commercials
- Showing outtakes or how commercials were made
- Providing a behind-the-scenes view of the credit union and/or its staff
- Financial education
- Video contests
The vast majority of the 2,750 “credit union” videos on YouTube aren’t actually uploaded by credit unions themselves. Most are uploaded by those connected to the credit union industry in some way, including leagues, associations and (of course) vendors. Of those credit unions with YouTube accounts, the most common use is for sharing commercials.
Reality Check: Don’t go on YouTube expecting your videos to “go viral.” It takes a lot for a video to “go viral.” Unless your video/commercial is exceptionally good, you probably won’t get more than 500 views. And there’s nothing wrong with that.
Bottom Line: Even if you’re the only one who looks at your videos, having an online library of them handy at YouTube is worth more than it costs, which is nothing. So there’s no excuse. Besides, it can’t hurt can it? Potential employees, reporters, and the public in general might find them useful and relevant. The least it says is, “We ‘get’ YouTube.”