As a credit union service organization (CUSO), PSCU offers its member credit unions processing services for debit and credit cards and related member support resources. Growth had slowed as credit union consolidation and significant competition offering similar services had begun to erode the defined potential.
Through extensive secondary study of consumer banking habits in credit union facilities and one-on-one interviews with nearly 100 credit union executives, HCP began a series of activities focused on building brand loyalty. Primary research was initiated to build baseline knowledge of the industry at large as well as clarity of leadership perspectives of PSCU users versus users of competitive services. Blind direct mail studies were implemented and annually repeated to definitively track corporate progress in establishing the defined strategies and image.
Following the evolution in strategic focus, HCP assisted in redefining the brand image (graphics) and expanded the marketing messages beyond the focus on processing to include a wide range of financial services. To launch the new direction, HCP began a series of events concurrent with the largest national convention (Government Affairs Conference in DC) focused on prospects. Simultaneously, efforts were directed at enhancing brand loyalty and word-of-mouth support through current users in dramatically upgraded annual meetings of the firm’s membership. HCP’s ongoing role included piloting new product launches and internal evaluation of marketing and advertising communications of the brand and its products.
Multiple years of accelerated growth have followed, inclusive of significant stability during the most recent recession based on the images and strategic focus instilled in the company—a process that was annually updated through a rigorous evaluation process of new research, internal business analysis, and ongoing competitive analysis. The profile of the company continues to grow, and today the firm is unquestionably the leader in the field of service, representing more than 60 percent of all credit union members in the nation.