Huffington Flap Provides Buzz to CU 'Breakup Bank' Ad
An anti-bank ad and Internet campaign started six months ago by the $343 million LA Financial Credit Union of Pasadena, Calif. was getting "good consumer buzz" and fresh attention this week resulting from the public furor over big bank practices and the Arianna Huffington blast.
"We've received 869 membership applications and 4,416 visits to our 'breakupwithmybank.com' Web page during the first six months of the campaign," said Renee Mackanin, vice president of marketing.
At the same time LA Financial is getting good feedback after posting the Huffington Post "Move Your Money" mention on its Facebook page "although we are not specifically targeting new members based on that campaign," said Mackanin.
The LA Financial "breakupwithmybank" ad campaign has included Facebook, Yahoo & Google allowing members to click directly to the CU site. Marketing has also included newspaper ads, bus backs and window clings in branch offices.
Exact account numbers were not available but "we have been getting great feedback from members who have broken with their banks and moved their money to our credit union."
"We always hear people talk about how much they hate their bank but yet, they never close their bank account," said Mackanin. "So we came up with breakupwithmybank.com as fun and entertaining way to educate people about LA Financial."
Since Huffington, the New York pundit and political celebrity, began her blogs attacking card and loan practices of big banks, CUNA and a number of CUs, many of which were lauded by consumer groups for their card and loan products, have stepped up advocacy efforts through Internet and newspaper ads.