Branding Insights

Feb 02, 2015
However, just because you see two animals in the same area does not mean they are exactly the same. For example, you might see orangutans in chimpanzees and a Great Apes exhibit, but they are far from the same animal. Each has its own set of appearances, behaviors and genetics.

The same can be said for the business development and marketing functions at credit unions. All too often, credit unions lump business development and marketing into the same department and expect stellar results. While the two fields certainly complement each other and should work closely together in order to maximize efficiencies and results, they're simply not the same animal.

In many ways, business development and marketing not only complement each other but also depend on each other. But again, this does not make them the same animal.

Successful credit unions increasingly view these roles as equally important but divergent enough to treat as separate line items on the organizational chart. For example, some credit unions now require branch managers to work as business development professionals. Or, alternatively, they may require that business development staff report directly to branch managers instead of to marketing.

Whichever way your credit union decides to set up its business development and marketing dynamic, be aware of the fact that both are different animals and should be treated as such.