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Develop a Marketing Plan

Develop a Marketing Plan

Describe how the PFCU will market the credit union to potential members. Specifically identify the advertising venues and methods to be used and include the cost for each. Some examples of marketing strategies are:

  • Targeted social media ads each quarter at a cost of $1,300;
  • Word-of-mouth advertising via on-site visits at three local organizations once a week at a cost of $15 for the membership materials provided to the three local organizations. On-site visits will be handled by the manager on Wednesday mornings before the office opens;
  • Table rental for distribution of credit union materials at community festival at $20; and
  • School sports field advertisement for a donation of $100.

The frequency and cost for the advertisement can be easily illustrated via a rollout marketing calendar. The marketing venues or methods are listed in the left column with the periods listed in the top row, and the cost of the marketing strategy appears where the row intersects the column. The marketing strategies, such as those just identified, should correspond with the information provided in the marketing calendar. Table 1 provides an example of a marketing calendar for Year 1.

Table 1: Example of Marketing Calendar

Marketing Venues Q1 Q2 Q3 Q4 Year 1 Total
Grand Opening Celebration 1,000 N/A N/A N/A 1,000
Weekly Community Publications Ads N/A 500 500 500 1,500
Weekly Radio Ads 1,000 1,000 1,000 1,000 4,000
Community Festivals (Table Rentals) N/A 500 N/A 500 1,000
Billboard N/A 2,000 N/A N/A 2,000
Direct Mailings 1,000 1,000 2,000 2,000 6,000
Social Media 500 500 500 500 2,000
Total 3,500 5,500 4,000 4,500 17,500

If the PFCU will serve a local community, neighborhood, or rural district, the marketing plan should incorporate the analysis of the area’s demographic characteristics, along with a discussion about how the PFCU will reach out and effectively serve all segments of the population. Refer to Appendix B of Part 701 Section V.A.4–Business Plan Requirements for a Community Credit Union for additional details.

Discuss what activities and events are planned within the PFCU’s service area and/or groups to promote the new federal credit union’s services and products. For example, participation in local Chamber of Commerce events, such as a vendor fair or annual food drive.

See Part 740 of the NCUA’s Regulations for requirements regarding the accuracy of advertising. Be sure to include all marketing costs in the pro forma financial statement projections.

Documentation Required for the Marketing Plan

  • As part of the business plan, submit a written marketing plan including costs associated with each marketing initiative as detailed in this section.


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