In a cross promotion with Bank Transfer Day, a New Jersey credit union, the $256 million McGraw-Hill FCU, debuted this week what it dubbed the “UnFEElievable” marketing campaign coming up with a new twist on industry ads. .
In so doing, the East Windsor CU also is getting specific by identifying large banks and their fees, contrasting them with McGraw-Hill’s no fee policy.
“Let me emphasize that we know there are good banks out there but it’s also important to make consumers aware they have a choice and can come to us where they won’t find the fine print and hidden fees,” declared Shawn Gilfedder, president/CEO of McGraw-Hill and chairman of the New Jersey Credit Union League.
In its online and media ads, McGraw-Hill names Bank of America, Chase, Wells Fargo and Citibank as institutions that impose numerous fees on checking/debit, direct deposit and savings products.
“We can’t believe the news that some of our competitors are ramping up their services just to make their numbers look better,” charged McGraw-Hill.
The ad concludes, “That’s no way to treat customers.”
Gilfedder said part of McGraw-Hill’s mission is “to simply show the facts” noting there is an array of “ditch your bank” ads now being produced by New Jersey CUs.
“You can’t paper the entire industry as evil.” mentioning at the online giant, USAA Bank, which he said has been effective in getting out its message, Gilfedder said.
Gilfedder said the McGraw-Hill ads will start running Monday, a week ahead of Nov. 5 Bank Transfer Day.
