COLUMBIA, Md. (9/15/09)--The Maryland and District of Columbia Credit Union Association (MDDCCUA) Monday announced the launch of its largest integrated advertising campaign this week, designed to educate consumers about the benefits of joining a credit union. The “What’s in it for me?” campaign touts the products, services, and lower rates and fees offered by credit unions versus those of traditional banks through radio spots, regional transit advertisements and an informational website. It will run throughout the Maryland, Washington, D.C. metro, Baltimore metro and Northern Virginia regions. In addition to the transit and bustail advertisements, the campaign’s radio spots were scheduled to air on regional stations in Washington, D.C., and in Baltimore, starting Monday. “The public has rediscovered how accessible credit unions are, the multiple benefits they afford, and how strongly they have weathered this year’s tough economic climate,” said Michael V. Beall, association CEO. “Over 50 regional credit unions are supporting this campaign as a direct result of the increase in member loyalty they have seen this year, and they want to keep that momentum going strong,” Beall said. “Consumers keep coming to credit unions to meet their needs; they see them as a trusted depository for their savings.” Recent industry data has shown an increase in credit union membership participation nationwide. Specifically, the Maryland, District of Columbia and Northern Virginia regions have experienced increases in:
* Share growths of 9.5% in Maryland and 7.4% in Washington, D.C., from June 2008 to June 2009; * Volumes of loan originations throughout Washington, D.C., totaling 34% for the first two quarters of 2009; and * Number of financial products used per person--2.37 in Maryland and 2.44 Washington, D.C.--compared with the national average of 2.35.
MDDCCUA also is planning other community outreach initiatives to create additional awareness of credit unions among consumers. These include:
* Educational tool kits and other consumer-oriented materials; * A year-round schedule of consumer financial events to be hosted by local credit unions; * Coordination with other regional providers of financial literacy and consumer education to benefit the public; and * Continuous updates via www.WhatsInItForMe.org.