Press
Cooperative Image Campaign helps Alabama and Florida credit unions stay on record pace
BIRMINGHAM, AL & TALLAHASSEE, TN (November 13, 2014) — Credit unions in Alabama and Florida are showing once again that cooperatively they are stronger. The third wave of the League of Southeastern Credit Unions & Affiliates (LSCU) Cooperative Image Campaign ran in 2014 with 115 credit unions contributing to a media buy that was more than $1 million dollars for the third time. This year’s media buy utilized a TV ad, radio ad, and billboards. However, there was a heavier media buy concentration online utilizing pre-roll video, YouTube, Pandora, Pandora video, mobile geo targeting, and social media. The campaign reached more than 80 million consumers online.
To measure the impact of the Cooperative Image Campaign, the LSCU looks at independent third-party research, the penetration of the media buy, Google analytics for www.betternameforbanking.com, the campaign website, and 5300 Call Report data. The research, performed by the Southeastern Institute of Research, found that the more consumers are aware of credit unions, the more likely they are to join. Of the 1,000 survey respondents, 62 percent indicated they are considering joining a credit union. Since the campaign began in the third quarter or 2011, Alabama and Florida credit unions have added 370,000 new members and more than $11 billion in assets. Both states continue a record pace for growth.
“The campaign is designed to work cooperatively with our credit unions to raise awareness,” said LSCU President/CEO Patrick La Pine. “The ads and the betternameforbanking website explain what a credit union is and that allows credit unions to concentrate their marketing on products and services. By working together, we are seeing positive growth in Alabama and Florida.”
A closer look at the impact of the campaign shows that consumers that see the ads over the air or online click through to www.betternameforbanking.com. During the 2014 campaign, 183,000 consumers visited the website to see the credit union difference. This was more visits than the 2011 and 2012 campaigns combined. The search for a credit union function was the second most viewed page. The research also showed that 54 percent of respondents are familiar with credit unions and the services they provide, while 51 percent of respondents that are familiar with a credit union indicated they are interested in joining a credit union. This shows that advertising the credit union message works and resonates with consumers.
The campaign will run again in 2015 with the same TV and radio ad, but new shareable content for the online media buys is being developed. Visit www.betternameforbanking.com to see the TV ads.
The League of Southeastern Credit Unions & Affiliates represents 277 credit unions in Alabama and Florida with a combined total of $68 billion in assets and more than 6.7 million members. LSCU provides advocacy and regulatory information;
education and training; cooperative initiatives (including financial education outreach); media relations and information; and business solutions. For more information, visit www.lscu.coop.Follow the League on Twitter at twitter.com/LeagueofSECUs or Facebook.