WASHINGTON — The Maryland and District of Columbia Credit Union Association has launched its largest advertising campaign, designed to educate consumers through the Maryland, Washington, D.C. metro, Baltimore metro and Northern Virginia regions about the benefits of joining a credit union.
The three-year "What's In It For Me?" campaign, which officially began on Sept. 14, includes transit and bustail advertisements, 30-second radio spots scheduled to air on regional stations, and the website www.WhatsInItForMe.org, which will be continuously updated about the benefits of joining a credit union, and about new laws that affect consumers. The campaign touts the products, services and lower rates and fees offered by CUs versus those of traditional banks.
This year's campaign is different from previous ones the Association has done, said Paul Rosenberger, chief services officer.
"More research has gone into it," he said. "We saw what we hope are keys to approaching consumers. It's about consumer awareness, and also about consumer usage of credit unions, and what consumers look at in terms of products and services."
The association partnered with Callahan and Associates to obtain some of its information. It is also the broadest campaign in terms of areas included compared to other campaigns. "It's taken a lot of preparation, fundraising and relationships going into it," Rosenberger said. "And it's been worthwhile."
The first year of the campaign has already exceeded its $160,000 goal in funding from credit unions, having received $213,000, which will primarily be used for measurements, and online improvements, Rosenberger said.
The goal for the second year is $350,000, he said, while the third-year goal is $1 million. "We've asked for $20 per million in assets," Rosenberger said. "The success has been great. It's a grand experiment and we need to see what the returns are."
In addition to the advertising efforts, MDDCCUA is planning community outreach initiatives to create more awareness of CUs among consumers. These include: educational tool kits and other consumer-oriented materials, a year-round scheduling of consumer financial events to be hosted by local credit unions, coordinating with other regional providers of financial literacy and consumer education, and continuously updating the website at
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"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 Beall, CEO of the Association. "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."
According to MDDCUA, the Maryland, D.C. and Northern Virginia areas have shown an increase in credit union participation, with share growths of 9.5% in Maryland, and 7.4% in D.C. from June 2008 to 2009. Loan originations among D.C. credit unions are up 34% for the first two quarters of 2009; and in the financial products utilized per person is 2.37 in Maryland and 2.44 in D.C., as compared to the national average of 2.35. The Association is hoping to bring even more consumer awareness of the credit union difference through its newest campaign.
