DENVER — Bellco Credit Union's controversial "Don't Let Your Money Head to Texas" campaign wooing former members of the defunct New Horizons Community Credit Union with $100 incentives continued to stir industry debate this week proving heavy-duty grist for CU blogs.
Since late August the $1.5 billion Bellco CU with its newspaper and truck ads plus a Web site has been targeting New Horizons members who now belong to Security Service Federal Credit Union of San Antonio, with an ad message warning that Colorado deposits "will soon be heading out of town" to a large bank-like CU.
Bellco, which contends the ads, are done in the name of fair competition dismissing complaints they are unprofessional or run counter to CU cooperation, said over the weekend its campaign is drawing favorable response from New Horizons members. The campaign is slated to run through early October.
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On CU blogs, the Bellco ads have both been attacked as "crossing ethical boundaries" and praised as "bold and daring."
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