CARSON CITY, Nev.-Greater Nevada Credit Union continues to increase its lending as it makes the local populace laugh, thanks to its ongoing advertising campaign.
The $444-million credit union's total loans in November 2010 were $1.6 million; in November 2011 that figure shot up to $4.1 million. In December 2010, total loans were $2 million; but in December 2011, $4 million.
VP-Marketing Ron Willard said the humorous TV spots carry forward some of the elements used in a previous ad ("
"We wanted to build on the momentum of the previous commercials," Willard said. "We used the same advertising agency as the 'Laughing Gas' commercial, and there is some overlap from previous campaigns."
In the new ad, titled "Embarrassing Car Syndrome" (www.youtube.com/watch?v=fD4aXQ0lU9A), a faux doctor asks if viewers are "suffering from Embarrassing Car Syndrome" while waving a pair of Groucho glasses.
Many Factors Contribute
According to Willard, Greater Nevada's loan numbers for January were "on target to meet our goals" with just days remaining in the month. He said the TV commercials have played a large role in driving new applications, but said the increase in loans was attributable to many factors, including in-branch signage, employee T-shirts and cut outs in GNCU's lobbies.
"But the commercial was the driving force within the community," he said. "We had a lot of people come to us from our website."
A move in the backoffice to consolidate lending in one area staffed by "experts" who are trained to "seek out other opportunities" for cross-selling has improved volume.
"We have a much more specialized staff in place than a year ago," Willard said. "We have an incentive plan for branch personnel supplying referrals. I give all the credit in the world to our frontline people, and, we have consistently marketed auto loans with a humorous aspect to them."
Marketing Coordinator Susan Cole noted consumers have been keeping their cars a lot longer, "so we want them to come to the credit union" when finally looking to replace those old vehicles.
"We are getting a lot of business through the website. A cut out of the doctor from the commercials is in all of our branches, and we have ordered stethoscopes for our staff to wear. This will extend the image and be a conversation piece at the front lines."
Willard said Greater Nevada will add business lending some time during 2012, and there will be another humorous car loan ad to follow.
"We are very proactively trying to increase lending," he said.
