Making the feeling ‘mutual’ for a new generation of bank customers

ABA Banking Journal Podcast

“Well, your money’s in Joe’s house, that’s right next to yours. And in the Kennedy House, and Mrs. Macklin’s house, and, and a hundred others. Why, you’re lending them the money to build, and then, they’re going to pay it back to you as best they can.”

Seventy-eight years ago, George Bailey memorably explained the operation of a mutual savings and loan to a national audience in It’s a Wonderful Life. But while today’s bankers understand mutuality, do today’s potential clients? On the latest episode of the ABA Banking Journal Podcast — sponsored by TransUnion — bank leaders Gregg Tewksbury and Lori Dufficy discuss a new campaign, Mutuals Matter, that aims to educate consumers about mutual bank ownership. Among other things, they talk about:

• Why present, and future, customers need to be educated about the distinctive values of mutuality.
• How the campaign developed messaging that resonates with consumer.
• The role of the campaign in helping mutual bank employees understand their unique value proposition and take pride in their work.

This episode is presented by TransUnion.

• If you can’t see the audio player above, click here to listen to this week’s episode.
• View the campaign at MutualBanksMatter.com.
• Read more in the ABA Banking Journal about public opinion on mutuality.
• Register for the ABA Mutual Community Bank Conference, April 6-7 in Washington, D.C.