Obtaining a Charter and Implementing a Go-To-Market Strategy + Messaging for Market Penetration: A Credit Union Case Study

Introduction: 

This case study explores the journey of a credit union from obtaining its charter to deploying a go-to-market strategy for market penetration. Situated on the Eastside of Kansas City, WeDevelopment serves the economically distressed area of Kansas City and is positioning to tackled the banking desert and predatory lending plaguing their potential membership.  The need to establish a strong presence in the market and attract a diverse membership base by strategically leveraging its charter and implementing a comprehensive go-to-market strategy and strategic messaging, WeDevelopment achieved significant brand awareness with its consumers.   

1. Research and Planning: In partnership with Messenger Ink, Culturesphere reviewed confidential business documents (comprise of demographic data, local economic trends, and the financial landscape of the membership area) and conducted extensive research to understand the local financial landscape (needs of the community, assessed competition, gaps in financial services) and identified opportunities for growth; identifying primary, secondary, and tertiary target markets.

2. Approval and Next Steps: 
Equipped with the understanding + parameters of membership + products, a comprehensive marketing plan was developed and submitted to the NCUA for review- and ultimately approved. With the Charter now approved and in hand, fruition became the next milestone in our wealth partner journey.

3. Brand Messaging and Positioning:
The credit union developed a strong brand identity and positioned themselves as a trusted and member-owned financial institution, leaning on brand specific language such as “WeDevelop Communities”, “WeDevelop Realities”, and “WeDrive Wealth”. Capitalizing on their brand language, additional marketing tactics such as press releases and voiceover scripting were deployed to connect with the market and key stakeholders, cementing their commitment to financial + market support, and social responsibility to build trust and loyalty among the community and potential members.

4. Community Engagement: 
Gaining support in the community thru initial pledges, we actively engaged with the local community through partnerships, sponsorships, and outreach programs, partnering with professional membership organizations such as The Hispanic Chamber of Commerce and The Greater Kansas City Chamber; participating in community events (Juneteenth Celebration), offered financial literacy workshops, and supported local initiatives to establish themselves as a trusted financial resource and community partner.

Results:

1. Market Penetration: The credit union successfully penetrated the market and expanded its membership base. They attracted a diverse range of members, including underserved populations and small businesses, by offering tailored financial solutions and personalized service.

2. Growth and Profitability: The credit union experienced significant growth in assets, deposits, and loans. The successful implementation of their go-to-market strategy resulted in increased revenue and profitability, enabling them to further invest in expanding their offerings and enhancing member benefits.

3. Community Impact: The credit union made a positive impact on the community by providing access to affordable financial services, supporting local initiatives, and promoting financial literacy. They became a trusted financial partner for individuals and businesses, contributing to the overall economic development of the community.

Conclusion:

By obtaining its charter and deploying a comprehensive go-to-market strategy, the credit union successfully established a strong presence in the market and achieved significant growth. Their focus on understanding the needs of the community.

VQ, a Vegan BBQ Chef Competition: Promoting Healthy Eating Options in Food Deserts

Introduction:

The City of Kansas City, like many urban areas, faces the challenge of food deserts, which are areas lacking access to affordable and nutritious food options. To address this issue, VQ, a Vegan BBQ Chef Competition, took a proactive approach to promote healthy eating options in localized food deserts on the eastside of Kansas City. This case study explores how VQ’s efforts compelled the city to issue a proclamation, resulting in reduced health risks for the community.

Background:

The eastside of Kansas City had been identified as an area with limited access to fresh produce, whole grains, and other healthy food options. This lack of access contributed to higher rates of obesity, diabetes, and other diet-related health issues among residents. Recognizing the need for change, KC Health Initiative partnered with Messenger Ink and Culturesphere to establish VQ, an event focused on promoting plant-based eating, initiated a Vegan BBQ Chef Competition to address the issue of food deserts and encourage healthier eating habits.

VQ Vegan BBQ Chef Competition:

VQ organized an annual Vegan BBQ Chef Competition, bringing together local chefs, vendors, and community members. The competition aimed to showcase the versatility and deliciousness of plant-based cuisine while raising awareness about the importance of healthy eating choices. Through cooking demonstrations, tastings, and educational sessions, VQ sought to inspire residents to adopt healthier lifestyles.

Community Engagement and Collaboration:

To make a significant impact, VQ collaborated with local organizations, community leaders, and health experts. They engaged with residents through workshops, cooking classes, and community forums to understand their needs and preferences. By involving the community in the planning process, VQ ensured that the solutions provided were tailored to the specific challenges faced by residents in the food deserts.

Compelling the City to Issue a Proclamation:

As VQ gained popularity and support, the organizers approached the City of Kansas City with their findings and proposed solutions. They presented data highlighting the health risks associated with food deserts and the positive impact that increased access to healthy food options could have on the community. VQ’s efforts and their compelling case led to the City issuing a proclamation to promote healthy eating options in localized food deserts on the eastside.

Proclamation Impact and Implementation:

The proclamation served as a catalyst for change, mobilizing city resources to address the issue of food deserts. The City of Kansas City collaborated with VQ and other community organizations to develop strategies for increasing access to fresh produce, supporting local farmers’ markets, and implementing nutrition education programs. The proclamation also encouraged partnerships with businesses and nonprofits to establish community gardens and urban agriculture initiatives.

Reducing Health Risks and Improving Well-being:

The collaborative efforts of VQ, the City of Kansas City, and community stakeholders resulted in reduced health risks for residents in the eastside food deserts. The increased availability of nutritious food options improved overall dietary habits, leading to a decrease in obesity rates, diabetes cases, and other diet-related health issues. The community’s improved well-being positively impacted not only individual lives but also the social and economic vitality of the eastside neighborhoods.

Conclusion:

Through its Vegan BBQ Chef Competition and collaborative approach, VQ successfully compelled the City of Kansas City to issue a proclamation promoting healthy eating options in localized food deserts on the eastside. By addressing the issue of food deserts, VQ contributed to reducing health risks and improving the overall well-being of the community. This case study demonstrates the power of community engagement, collaboration, and proactive initiatives in creating positive change.

Type a case study on how VQ, a Vegan BBQ Chef Competition compelled The City of Kansas City to issue a Proclamation to promote healthy eating options in localized food deserts on the eastside, thereby reducing health risks.