Four Business Development Strategies for Credit Unions in 2025

And just like that, we are a few weeks away from 2025. A new year means the opportunity to execute on a new plan that uses your learnings from the year before, along with established new initiatives that are meant to take you to where you want to be – which always means growth. Year-over-year growth gives credit unions the opportunity to provide better products and services for your members, and even equally as important, job security for all the talent that lives inside credit union organizations and their families that they provide for.

I was fortunate to spend the last decade of my career working in credit unions, in roles where I was held responsible for making growth happen. It’s more than a career or passion, it’s part of my DNA. Arguably one of the hardest jobs in any organization, yet one of the most fulfilling. The highs are high and the lows are low, but nothing is sweeter than solidifying a new member growth source like a new SEG or FOM expansion, or developing a successful campaign with a low cost per acquisition. The impact is beyond the immediate ROI, the impact helps real people, your members, and your coworkers. We need to think bigger and see our purpose as far more than just KPIs. That’s when magic happens.

Thinking bigger means getting creative with the opportunities that are ahead. What does the next generation of business development for credit unions need to keep top of mind next year?

1. Master the Art of a Primarily Digital First Member Base

The reality is we are all navigating a hybrid member base, with most of our members engaging through remote or digital channels. Your business development strategy must align with this reality. The days of sitting in a lunchroom or only attending benefit fairs are dead and gone. We need access to the masses through digital channels. Challenge your teams to think – how can I get in the palm of potential eligible nonmember’s hands (also known as, their smartphones)? Generate new ideas, ask for those opportunities from your SEGs and community partners, and measure results.

2. Create a Financial Well-Being Strategy That Drives Growth

Financial well-being is a strategy that all credit unions talk about and promote externally and internally. I’m a firm believer that credit unions, and all financial institutions for that matter, must provide financial education. It’s irresponsible not to. The question is, how do credit unions make these programs helpful to members while also driving growth? Does your current financial well-being program tie back to your products or services, or join button on your website? Get your teams thinking about how to increase conversion from your financial well-being efforts. Try new ideas and don’t be afraid to promote your wonderful products and services. If credit unions don’t hype themselves up, then no one will. Be your own advocate – you all have something to be proud about that’s absolutely brag-worthy.

3. Develop or Hire Innovative, Next-Generation Business Development Talent

Pour into your staff. Human capital is one of the best investments any organization can make. When seeking out sales talent, find people with grit. Learning products/services and being bought into what makes credit unions so great is easy but finding people who can identify growth opportunities and connect with all walks of life can be harder to come across. If you want to grow, I suggest finding or developing internally the right talent and more importantly pay that talent appropriately to deliver on the results that’s expected from them. Sales is a hard job and it’s not for the faint-hearted.

4. Foster a Mission Driven Sales Culture

“Selling” and “sales” for some reason tends to have a negative connotation in the credit union world. Not to drop the “B” word, but I think credit unions are sometimes scared that they’ll be giving bank if they “sell” too much. Let’s change this mindset and narrative. The largest credit unions all have a focused, mission-driven sales culture. Dare I say it, they may even incentivize their staff for the business they bring in. It’s time to debunk this notion that credit unions don’t sell – we need to, to survive. Lean into it. Both can be true; you can help members and sell at the same time. If you develop SMART goals, with checks and balances that allow your staff to bring in business with your mission and institutional integrity at the forefront, then don’t be scared to foster a strong sales culture.

Closing Thoughts

I’m excited to see what credit unions do next year. There’s plenty of market share out there and people that need credit union products, services, and assistance. Evolving to keep up with modern business demand is part of our job that we must never stop solving for year after year. As an industry we can either run from the ever-evolving digital business landscape or run with it. I don’t know about you but I’m here to run and win. Hope to see all of you in the winner’s circle!

‍About the author:

Deliana brings over a decade of expertise in leading and strategizing for business development within credit unions ranging from $600 million to $6 billion in assets. As a recognized subject matter expert, she has spoken at numerous business development conferences across the U.S. Deliana is passionate about helping credit unions grow by sharing her knowledge in data-driven growth strategies, B2B relationships, sales team development, and new member acquisition.

📅 Schedule time with Deliana here!