The $347 million LA Financial CU, an early California advocate of bank-bashing ads, announced it has refined its “breakupwithmybank.com” ads, switching the tag line to “breakupwithmyloan.”
The Pasadena CU said the new campaign linked to a new website and a series of ads using a fleet of seven “wrapped” cars, is directed at the refinance market—auto, mortgage and home equity products.
LA Financial said its new website for “breakupwithmyloan” went up July 1 and includes a streaming cartoon which asks “has your dream loan” with a bank “turned into a dud?” Then switch to LA Financial, suggests the ad.
The California CU lays claim to be one of the early pioneers in hitting bank practices in the “breakupwithmybank” series which started in July 2009.
Since starting the “breakup” series, the CU counts more than 11,000 applications and 15,000 hits on its website.
The Pasadena CU said the campaign was originally part of a long term strategy to halt the slide in member and loan volume with the promotion doing just that.
However, “our membership numbers and loans have stayed flat since the breakupwithmybank.com campaign began,” said Renee Mackinin, vice president of marketing. Since breakupwithmyloan began, “loan applications are up 18.6% and loan approvals are also up 44% from the previous month.”
For LA Financial, the 2009 campaign was the recipient of numerous industry awards including two gold MAC awards last year for its website and logo and a first place CUES Golden Mirror award.
All of the LA Financial CU ads play on the love/relationship theme asking “Who Says that Breaking Up Is Hard to Do” and comparing banks and CUs, “We Just Don’t Want the Same Things.”