NORTHVILLE TOWNSHIP, Mich. — Seizing what it calls "an ideal opportunity" to advocate the credit union difference, the Michigan Credit Union League is pressing its media jibe at the planned relocation move of Comerica Bank to Dallas.
In a series of two 30-second radio ads broadcast last week as part of its $2 million 2007 branding budget, the league commercials criticized the Michigan mega bank for its March announcement to move 200 employees and the corporate office to Texas during the third quarter.
In joining a chorus of statewide criticism from Comerica's competitor banks, the league said its commercials focus on the bank's profit motive in pursuing "selfish gains" while abandoning an economically-struggling community.
Recommended For You
The league has said the move by the $58 billion Comerica is surprising, discouraging and ill founded in light of the bank's 150-year role as a corporate pillar in the Michigan economy.
In contrast, the league ads stress that CUs "don't relocate out of state" and remain locally owned and operated making it a good reason for the public to switch financial institutions.
The radio ads, to run through April and cost about $500,000, are a "supplement" to a broad co-op branding and advocacy campaign set to start in the fall, said David Adams, president/CEO of the league.
The ad's message hit at the point that CUs "are here to stay" while a big bank like Comerica "leaves when times get tough," said Adams.
The Michigan economy, he noted, remains mired in the doldrums with 7% unemployment, second highest in the nation. "Michigan is facing some serious economic challenges and here you have the state's biggest bank in search of profit and a richer talent pool," said Adams.
In its March press statements, Comerica said it needed to be closer to its business clientele in Texas and Florida with the relocation helping hire what it called a "richer" talent pool, a remark that offended Michiganders.
The Michigan League has plenty of company hitting the Comerica relocation.
In media coverage of the Comerica move, Fifth Third, Franklin and Flagstar Banks have all emphasized their Detroit loyalty with Fifth Third citing its $100 million investment in the city and Flagstar running full-page newspaper ads touting, "Proud to be headquartered in Michigan."
The league radio ads follow a press blast early last month sniping at the Comerica move as poor policy. The relocation plan has also drawn heat from state lawmakers and Gov. Jennifer Granholm who disparaged the relocation as harmful to the state's economic wellbeing.
Adams said its new TV and radio spots already developed for the fall campaign "have the right combination of quantitative facts and emotional appeal."
The fall brand campaign ads, said Adams, "feature a young female teacher and African American factory supervisor talking about how Michigan credit unions offer great service, better rates, lower fees and are there for them during economic challenges."
Adams noted also that co-op ads "coupled with our proactive efforts to help pass CURIA and our Community Reinvestment Initiative make up our three-tiered vision for advocacy. It's a powerful combination and one we think will resonate with both state and federal lawmakers." –[email protected]
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
