Maine Credit Unions Cooperatively Advertise “There’s One for You” in 2005

Learn how Maine credit unions are using cooperative advertising to gain new members and increase services per household of existing members.

 
 


"There's one for you" will be the mantra of Maine's 76 credit unions starting January 1. The phrase will be at the center of a television awareness campaign led by the Maine Credit Union League. "It's the largest-ever effort as far as television goes in the state of Maine," said Jon Paradise, governmental and public affairs director.

Purpose: Increase Membership and Penetration among Existing Members
The goal of the campaign is to gain new members and increase services per household of existing members. Kathryn Beaule, vice president of marketing/information technology at Maine Family Federal Credit Union said, "We want people to know that when you join a credit union, you are building a relationship that will last for years to come." The 30-second spots were purchased for $160,000 and will run across the television markets in Portland, Bangor, and Presque Isle.


Strategy: Reach Individuals Aged 25-54 with the Message "There's a Credit Union for You"
This television campaign is the longest ever for the Maine leauge, spanning 26 weeks rather than its traditional 8-10 weeks. A change in the league's fee structure allowed for the extension. The contributions were previously voluntary until one Maine credit union brought up the fee structure at an annual meeting. The league posed the option to build contributions for cooperative advertising efforts into the dues, and it passed overwhelmingly. "I think it's a testament to our affiliated credit unions' understanding of the value of awareness and getting the message out," said Paradise.
(See below for a breakdown of the campaign)

  • Run ads for 26 weeks
    • Run from Jan - April
    • Evaluate and make changes
    • Run again from September - November
  • Target market individuals aged 25-54 with a focus on ages 25-44
  • Use different story lines with one common theme: Anyone can be a member of a credit union

Challenge: Message Must be General Due to Variety of Services Offered by Credit Unions
While filming the commercials, the Maine credit unions avoided naming any specific products or services offered. Beaule says the commercials are intended to inform Maine residents that everyone can belong to a credit union and that credit unions offer competitive products and services. "A lot of people are aware of credit unions but still have the thought that they have to work for a specific employer in order to join, or that credit unions only offer a limited scope of products and services," said Beaule. Check below for screen shots of each commercial.


Results: Measure Website Traffic and Growth (Loans, Assets, Members, Shares)
At the end of each commercial, the Maine Credit Union League's website is prominently displayed. The Maine League will track the website traffic on its own site and evaluate the growth trends of all 76 credit unions including loan, asset, member and share growth. It's a fluid campaign that is subject to change throughout the year. However, one thing will remain the same. In the words of Beaule, "We are truly people helping people. That message is the same across the board, no matter what credit union you choose to do business with."

Screenshots from television campaign:
Shown at the end of each commercial
Target Market: Young female professionals
Target Market: Upper middle class families
Target Market: Young male professionals
Target Market: Married couples
 

 

 

Jan. 3, 2005


Comments

 
 
 
  • Closing on a house in the next 2 weeks, curious because of an ad I saw today.... contact me via cell:207-356-6047
    Ben Tuttle