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CU CONTENT: Staying Competitive in a Saturated Market: The Small Fish Can Take on the Big Fish

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BY LAURA ENOCK

Do you feel like a small fish in a big ocean? Regardless of your credit union’s size and available resources, it is possible to eat well from the vast waters. All it takes is a certain attitude. Read on to find out what mindsets will have you grabbing your fill of the market.

Take a short drive around town and count the number of financial institutions you see. In the city of La Crosse, Wis., you’d be hard pressed to drive a mile without seeing several. In a market of approximately 100,000 people, there are 14 banks and nine credit unions, accounting for more than 50 branches. How does a small fish take on the big fish when it comes to marketing and grabbing a slice of the market? Can credit unions with only one or two branches compete with mega financials that seem to have endless resources?

The answer, says Dustin Bagstad, marketing director at GECU, is: we can.

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