BIRMINGHAM, Ala., and TALLAHASSEE, Fla. (11/14/14)--Since the League of Southeastern Credit Unions (LSCU) launched its Cooperative Image Campaign in the third quarter of 2011, Alabama and Florida credit unions have added 370,000 new members and more than $11 billion in assets, the league announced this week. Both states continue a record pace for growth, the league said.
The third wave of the campaign ran in 2014 with 115 credit unions contributing to a media totaling more than $1 million. It included advertising on TV, radio, billboards, online video and radio, and social media.
To measure the effect of the campaign, the league looks at independent third-party research, the penetration of the media buy, Google analytics and National Credit Union Administration 5300 Call Report data.
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 1,000 consumers surveyed, 62% indicated they are considering joining a credit union.
"The campaign is designed to work cooperatively with our credit unions to raise awareness," said Patrick La Pine, LSCU president/CEO. "The ads and the 'better name for banking' 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 who see the ads over the air or online click through to 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% of respondents are familiar with credit unions and the services they provide, while 51% of respondents who are familiar with a credit union indicated they are interested in joining a credit union.
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.