By Debbie
Over 40% of credit union executives don't know their own member acquisition cost (MAC), despite the fact that their #1 goal is to grow the credit union membership. In order to accomplish that goal sustainably, credit union executives need to become smart about how to measure this cost and how to leverage different channels to optimize it.
This report covers industry benchmarks, pulling data from the average member acquisition cost for the top 100 credit unions (based on NCUA call report data), as well as survey data from over 50 credit union execs. The report looks at marketing budgets, channel breakdown, and growth strategy, and strategies to reduce your member acquisition cost.