Marketing ‘Ditch Your Bank’ Spreads Anew
It looks to be another big year for the “dump your bank” marketing campaigns that were fired up by credit unions in 2010 as media coverage mounted on the woes of big banks.
From Virginia to Washington State, CUs were making the most of negative local and national TV coverage of higher bank fees by making comparisons and tweaking the competition.
“New member growth for 2011 is approximately 14% and just under 8% net,” said Coxon, adding that member gains last year “were double our 2009 growth, and 2009 was slightly above the credit union average.”
“Our campaign grew in stages,” explained Coxon. “We first introduced the ‘8 Great Reasons’ to use a credit union instead of a bank, soliciting ideas from all staff and receiving wonderful feedback.”