ST. LOUIS (4/1/13)--Missouri credit unions have united to launch an eight-month advertising campaign to inform consumers they have a better option when choosing a financial institution--a credit union. The Bank on MOre campaign educates consumers about both the distinctions and similarities among credit unions and banks.
The campaign, developed by the Missouri Credit Union Association (MCUA) on behalf of 50 participating credit unions, launched March 25 with statewide coverage in radio, print, digital, out-of-home and social media. It includes messages such as "MOre Bank. Less Piggy" and "Your Street. Not Wall Street," and raises awareness that banking at a local credit union is a better choice both for consumers and their communities.
"Research indicated we needed to highlight the credit union differences in philosophy and community and dispel the myths that it's hard to join a credit union, and that credit unions are less convenient than banks," says Don Cohenour, MCUA president/CEO. "It was a tall order, but we are up to the task."
MCUA conducted survey research on consumer attitudes toward credit unions before developing the campaign. Results indicated that if consumers have a better understanding of three key concepts--nearly all consumers in Missouri are eligible to join a credit union, credit unions offer the same range of financial services as traditional banks and credit unions are very competitive in terms of loan rates and financial benefits--consumers are more likely to switch to a credit union.
MCUA hired APCO Worldwide in Washington, D.C., to develop and manage the campaign. APCO specializes in movement marketing and campaigns.
The campaign also features online advertising and is weighted heavily on social media channels such as Facebook and Twitter.
"This campaign is set to reach six million Missourians and tell them they have a better choice when it comes to their bank accounts," said Judy Hadsall, president/CEO of CU Community CU in Springfield, Mo. "We joined the campaign because credit unions are the best kept secret in financial services for consumers and it's about time Missourians hear that from us."