MADISON, Wis. (5/13/10)--Credit unions have begun to use social media and online social networks more frequently, but before they launch a fleet of social media venues to engage potential members, they need to do their homework, said the CUNA Technology Council. The council has released a new white paper, “Social Media from a Technology Point of View,” to address the matter. Credit unions must look at the big picture of how social media fit into their overall marketing objectives and what value specific tools bring to the credit union and its members. They also need to research and take measures to protect their internal systems from security threats, the paper said. Specifically, the paper examines:
* The place of social media technology within the objectives of the credit union’s marketing and financial outreach programs and informal measures to take to make it effective; * Cutting-edge banking applications intended to add transactional capability to Facebook and Twitter; * Risks and dangers associated with social media technology and security measures that can be taken; * Administration tools available to information technology staff; and * Social media applications that can monitor and network employees;
Credit unions generally use social media for brand development, monitoring and social network banking. Social media help credit unions build their brands by going beyond traditional print and e-mail advertisements in a cost-effective manner. They empower credit unions to monitor their image online and address concerns regarding potential attacks on the Internet, the paper said. For more information, use the link.