Press Release Primer: Increasing your credit union’s exposure

by: Hilary Reeves, Consultant, CU Breakthrough

Press releases are a critical piece of your credit union’s marketing pie. Done right, these informative snapshots net a cascade of interest from the media and, consequently, the surrounding community. Done wrong, they are quickly relegated to the local cub reporter’s spam folder. If you know you could be doing more to spread your credit union’s news but have no idea where to begin (or need a refresher), consider this primer:

Decide your approach

The key to any effective media campaign is deciding where you want to be and how you’re going to get there. Are you part of a smaller credit union looking to raise its general level of exposure? If so, then building a relationship with the local media through consistent communication might be your preferred strategy. Do you have a large event coming up that begs coverage? A series of well-timed blanket releases focused on the event might be more appropriate. Above all, realize that sending one random release every few months isn’t likely to result in the attention you’re looking for. You have to have a plan.

Think like a reporter

While you might think the “shred day” you’ve been planning for months deserves the front page of your daily newspaper, unless all that paper catches on fire during your event it will probably warrant no more than a paragraph in the Around the Neighborhood section. And although you are absolutely floored by the fact that you’ve had a double-digit increase in your capital-to-asset ratio this year, that context will limit your news to business journals. Instead, try thinking like a journalist. Reporters love trends and are constantly looking for stories that give way to a larger picture. Perhaps your increase is capital is something that’s happening at many credit unions across your state. Perhaps you have a human interest story that can serve as the “face” of your event. Whatever your news, make sure you are framing it for mass appeal. Bonus tip: Alerting your media contacts to industry trends helps establish you as an expert in their minds. The next time they’re confused about something that’s happening in the credit union world, they’re more likely to call you to explain it to them and will quote you in the piece.

Writing your release

Writing is a challenge for many credit union leaders, but there is good news: press releases are formulaic and practically write themselves! Below is a brief and generic press release template:

—

Headline

Date

FOR IMMEDIATE RELEASE

CONTACT:
Name
Title
Phone Number
E-mail

Extended Headline

CITY, DATE – Start writing your release here.

About Your Credit Union
Use this paragraph to give the reporter some background information on your credit union.

–

This is just one example of a press release, but it is a good one. All the relevant information is there: the date, the place, the story and, most importantly, the contact information. When compiling the body of the release, write about your credit union as if you were a reporter. Once you issue the release, make sure your designated contact person is actually available to answer questions as they come in. As always, make sure your writing fundamentals are sound.

Sending your release

The first step in sending your release is deciding where to send it. A large credit union might blast news to every reporter in the state; smaller credit unions with more limited resources are better served by a quality-over-quantity approach. If you are located in or near a city and your news is relevant to the general public, consider daily newspapers and television stations. If you’re located in a more rural environment and/or your news is community-oriented, try the local weeklies. Industry news is best suited to trade publications or business journals. If you’re unaware of the media outlets in your neck of the woods, a quick Google search should allow you a clearer picture – and don’t forget your local bloggers and other online-only media outlets.

Now do a little research. Though many publications will instruct you to send your release to a generic e-mail address (news@yourbigshotdailynewspaper.com), realize that it will be lost in a sea of releases. You’re better off targeting the specific reporter assigned to your geographic area or industry beat. Most publications list who covers what, along with e-mail addresses, on their websites. Send the reporter an e-mail addressing him or her by name, with the copy of your release pasted into the body of the e-mail. Don’t send attachments and please don’t bother mailing or faxing releases. Finally, give reporters enough time to follow-up. Daily newspapers slate non-breaking stories days in advance, while monthly publications might need several weeks to produce the story.

Following up on your release

You’ve followed all the above steps: your news is relevant, well-written and targeted to a specific group of media elite…and yet you’ve heard nothing. Now it’s time to follow up. As a former reporter, I can say with absolute certainty that journalists are very busy people. Your release could have been lost in the mix. Start with a quick e-mail that shows your understanding:

“Hi, Hilary, it’s John Doe and Anytown FCU. I sent you a press release last week, and I know you must get a ton of releases, but I’m hoping you’ll consider a story on our new program. I’ve included the release below. I know you’re short on time, but I just want to make sure I’m getting my release to the right person. Do you mind shooting me a quick reply? Thank you!”

If you prefer phone contact, be prepared to leave a voicemail along the same lines, then follow-up by resending the release. If you still get nothing, or a reporter tells you “no thank-you,” please practice acceptance. Nothing destroys your credit union’s relationship with the media more than badgering them. You’ll hook them with your next great story…just remember that practice makes perfect!

Hilary Reeves spent 10 years as a journalist before leaving the newsroom to become a freelance writer and editor. She currently works as a consultant for CU Breakthrough, a service of the National Federation of Community Development Credit Unions. Reeves lives in Seattle with her husband and two young daughters. Contact her at hilary.j.reeves@gmail.com.