Bank collapses, including five last Friday, continue to spur credit union marketing forays with Georgia a case in point this week.
Mindful of the unsettling effect of bank failures on consumers, the $132 million MidSouth FCU of Macon maintained that its latest "your funds are safe" radio commercial, as well as a print ad on loans, is both reassuring and productive during a time of local financial stress.
"We're not about to go overboard with this radio spot because we don't want to even remotely cause any type of unrest, and throwing muddy campaigns out there is not in the MidSouth culture," said DeAnn Dent, vice president of credit union development at the 34,000-member CU.
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There's plenty of room in middle Georgia for both banks and CUs, Dent said, discussing her marketing strategy following the July 24 failure of the $2.8 billion Security Bank Corp.
Overall, Dent said, Security's failure and takeover has not generated any kind of panic, and most of Security's customers seem "pretty loyal and don't seem to be making huge movements to other banks or credit unions."
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