The giant banks now offer low or zero rates on savings at all, and sadly, most credit unions have followed suit. But perhaps credit unions have missed an opportunity to differentiate themselves with better deposit rates. Sure, plain old savings accounts and certificates aren’t all that exciting, but the rates you pay make a real, fundamental difference in perceptions as well as balances.

Granted, many people with money in no-rate savings accounts have no idea they’re actually losing money to inflation, so they don’t bother searching for a better rate as long as their money is safe. Or they just figure things are the same everywhere, so why bother looking?

Big banks love customers like this – people who have given up, or who just don’t seem to care what their money is doing. How can you turn them into clued-in credit union members who understand the benefits of being an owner?

Give them hope — show them that there really is a difference. Show them what they’re losing to apathy. Empower them to take charge of their finances. And if you can convert them, everyone wins. The more your members know, the more likely they are to be involved with the credit union, taking advantage of everything you have to offer.

Maybe it’s time to create and magnify those real-life differences — offer distinctly better savings rates and tell the world. Wouldn’t it be great to have the opportunity to turn an uninvolved bank depositor into an active, faithful member of your CU?