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Maryland CUs tout their white hat image
BALTIMORE (12/1/08)--Maryland's credit unions are making sure the public knows that while other financial institutions line up for relief money from the Treasury, credit unions are solvent and willing to lend. An article in the Baltimore Examiner (Nov. 25), "Maryland credit unions tout 'white hat' image," reported on the Maryland and District of Columbia Credit Union Association's (MDDCCUA) regional ad campaign for credit unions. Credit unions bought 632 ads and traffic sponsorships on Maryland and Washington, D.C., radio stations about the government's temporary increase of deposit insurance to $250,000. They also bought 65 bus-tail ads stating, "Credit Unions: Where Your Savings Are Safe." The $130,000 campaign ended Nov. 23. Traffic at a website referred to in the ads doubled, said MDDCCUA. The article features a photo and interview with Brian Vittek, CEO of Destinations CU, Baltimore, who estimated membership is up 5% year to date and said deposits are up also The nation's credit unions are posting a 15% increase in mortgage and business lending year-over-year, said the article, which also noted that credit unions are ineligible for the Troubled Asset Relief Program.
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