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SAN DIMAS, Calif.-CUs need to do a better job at sales in 2012, but not in the traditional sense, one observer is suggesting.
Financial Service Centers Cooperative (FSCC) President Sarah Canepa Bang is a proponent of social currency, and said CUs have to begin planning now for leveraging the concept. "Amex, Citibank, even BofA have recently come up with social currency programs that credit unions should have developed. We're falling behind. Social currency has credit unions written all over it. It's in our lexicon-members, not customers."
Canepa Bang reminded that social currency is one interaction leading to another. "Social currency for men could be talking about sports, attending an event and being a fan. For women, typical social currencies are jewelry, shoes, where-did-you-get-that-dress...