Our relationship with Research1166 Federal Credit Union spans more than a decade and involved managing the credit union’s print, promotional, and signage needs when called upon. In the fall of 2022, the organization came to us with specific goal to increase membership by providing financial services to residents in underserved communities in the tri-state region through a charter change. As this required the creation of a strategic plan and marketing communication plan, the organization engaged Riggs Creative Group LLC to meet this need. Not only did we provide these plans that led to the successful charter change, we also scaled the organization with new branding and an updated website. We continue to execute on all its strategic marketing communication initiatives, including search engine marketing, social media management, blog and media outreach, and email marketing, to achieve and exceed its goals.
1166 Federal Credit Union
- Board of Directors’ Directives:
- The Board emphasized the need for a strategic plan that delivers tangible results without wasting resources.
- They sought growth and positive income over a five-year period.
- Federal Government Requirements:
- The National Credit Union Association, akin to the FDIC for banks, oversees federal credit unions.
- Strategic plans are mandated biannually for federal credit unions, with a focus on growth and community support.
- Strategic Planning Process:
- Riggs Creative Group LLC was engaged to develop a strategic plan that aligns with the Board’s directives and federal regulations.
- The plan aimed to avoid previous pitfalls of expensive sessions that yielded no tangible outcomes.
- Achievements of the Strategic Plan:
- The plan was submitted to the Federal Government for review in December 2022.
- As a result of the plan’s effectiveness, the credit union received a charter expansion, allowing it to grow its membership substantially from 1,200 to 1.5 million households.
- This expansion represents a significant success for the credit union and is evidence of the strategic plan’s efficacy.
- Post-Plan Implementation:
- Following the approval of the plan, the credit union immediately commenced action plan execution.
- Current statistical data indicates promising growth, with a membership demographic expanding at a rate of 10% annually and loan growth mirroring this growth.
“Overall, the strategic planning process undertaken by 1166 Federal Credit Union along with Riggs Creative Group LLC has been a resounding success, leading to substantial growth opportunities and positive outcomes for both the credit union and the community it serves.”
Annemarie Shinn
CEO
