Empower FCU executive argues community values, not cash incentives, build lasting loyalty.
In an op-ed published by Buffalo Business First, Chris Keller says businesses can attract customers with promotions but retain them through visible, consistent commitments to their communities.
As Buffalo’s downtown population continues to expand, businesses hoping to capitalize on the city’s revival must do more than offer financial incentives to win customers, according to Chris Keller, chief marketing officer of Empower Federal Credit Union.
Writing this week in Buffalo Business First, Keller argued that while promotional offers can bring consumers through the door, long-term loyalty is built by demonstrating values that resonate with the communities businesses serve.
“Buffalo can tell whether a business is genuinely invested in our community or not,” Keller wrote, framing community engagement as a competitive advantage rather than a marketing exercise.
The Syracuse-based credit union, which manages $4.3 billion in assets and serves nearly 308,000 members, has experienced steady growth. According to National Credit Union Administration call report data, membership rose 7% over the past year, while first-quarter earnings reached $8.3 million, up from $8 million during the same period in 2025.
In his essay, Keller acknowledged that financial incentives remain useful acquisition tools. Empower, for example, offers a $75 bonus to new members in the Buffalo area. But he likened those promotions to “an open doorway,” saying they provide an opportunity to introduce prospective members to an institution’s broader mission rather than serving as the primary reason to join.
“If you rely solely on incentives,” Keller wrote, “you may find yourself in a cycle of losing members when someone else offers more.”
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Instead, he encouraged organizations to cultivate what he described as values-based loyalty, shifting the conversation from “What can we give you?” to “What do we stand for, and does that matter to you?”
Central to that strategy, Keller argued, is ensuring that corporate values are operational rather than aspirational. Broad statements about supporting communities carry little meaning unless they influence how resources are allocated and decisions are made.
At Empower, he wrote, philanthropic efforts are organized around four giving priorities: food security, accessible health care, safe housing, and youth and next-generation development. Those pillars guide charitable investments, volunteer activities and partnerships, creating consistency that Keller believes strengthens trust over time.
The op-ed also highlights how routine interactions can reinforce an institution’s mission. Keller pointed to a member survey initiative in which Empower pledged to donate $1 to a local nonprofit for every completed response. Across two survey cycles, members helped direct $17,547 to the Food Bank of Central New York while simultaneously providing feedback to the credit union.
The example illustrates a broader argument running through Keller’s essay: organizations need not launch entirely new programs to deepen relationships if they can infuse existing touchpoints with purpose.
“You don’t need to create new programs to drive loyalty,” he wrote. “Look at the touchpoints you already have and ask which ones could carry more weight.”
The message arrives as financial institutions compete aggressively for deposits and new customers through cash bonuses and promotional rates. Keller’s perspective suggests that community engagement and clearly articulated values may prove more durable differentiators, particularly for member-owned credit unions that emphasize local ties.
He concludes that sustained loyalty is earned through consistency rather than incentives alone.
“Running a promotion doesn’t build a business’s staying power on its own. Values, consistency, and showing up for the community does.”
– Chris Keller
Chief Marketing Officer
Empower Federal Credit Union
Ken McCarthy is manager of marketing communications at Tyfone, where he monitors the credit union industry and contributes to conversations shaping its future. He previously covered credit unions and community banking for American Banker and S&P Global Market Intelligence. He holds a journalism degree from Point Park University and has more than 15 years of experience covering financial services. He is also the author of three literary fiction novels.
