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Southeastern CUs launch 1.3M co-op ad campaign
BIRMINGHAM, Ala. and TALLAHASSEE, Fla. (9/9/11)--The League of Southeastern Credit Unions (LSCU) launched a $1.3 million cooperative advertising campaign this week throughout Alabama and Florida to educate consumers about how credit unions are different.
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One hundred credit unions in Alabama and Florida are participating in the campaign, which uses TV, radio, billboards, online ads, and the tagline, “Credit unions: we’re giving banking a better name.” The campaign concept, which was developed by Scout Branding Co. of Birmingham, Ala., is based on research that indicates 60% of consumers don’t know what a credit union is. The campaign, geared toward Gen X, is designed to educate consumers about how credit unions are different than other financial institutions and save their members millions of dollars each year. The media buys in each of the 14 markets in the two states include a heavy online buy and television buys during shows watched by Gen X. Consumers who surf local and national websites will see banner ads and pre-rolls before online videos. Facebook’s 8.6 million users in Alabama and Florida also will see the image campaign ads. “Since the economic meltdown in 2008, credit unions have focused on providing for their membership,” said LSCU President/CEO Patrick La Pine. “Credit unions are unique, in that any profit made is returned to members in the form of lower fees and better rates on loans and savings.” The ads direct consumers to the website, www.betternameforbanking.com. It has three interactive buttons where consumers can see what they would save if they had their mortgage loan, auto loan, and a credit card with a credit union. Consumers may compare the average rates between a credit union and a bank by viewing the “what’s better?” page. Real-time rate data from Datatrac provide the comparison information, which shows the credit union rate is better in almost every category. A search function on the website to makes it easy to find a credit union nearby. The radio ads, outdoor ads, and the website have a shared-branching component. Credit unions are unique in that many share services. Members only need to look for the shared branching “swirl” to know their credit union is nearby. “Our website shows how much consumers can save if they had their loans or credit cards with a credit union,” La Pine said. “For most, it will be eye-opening the amount they would save with a credit union.”
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