California CUs Eye Statewide AdCampaign

LAS VEGAS - (11/17/04) -- Members of the California and Nevadacredit union leagues will vote Wednesday on whether to fund aspecial assessment that could double the annual dues of somemembers of the two leagues in order to underwrite a $6 millionadvertising and marketing campaign in both states. The goal of thecampaign would be to significantly raise awareness among consumersand members of what credit unions are and how they differ frombanks. League officials said the campaign follows alarm bells rungby legislators who increasingly refer to banker rhetoric in theirquestions of credit union representatives, and by research showingthat non-members are likely to take a position on the tax exemptionthat supports banks by a two-to-one margin. The league is seekingto raise $6 million in 2005 to underwrite the effort, which will belargely composed of radio advertising in California's expensivemedia markets, with support from print advertising. The league hasbeen pitching the idea and rationale for the special assessment forthe past few months in a series of town hall meetings and webinarsin which secrecy has been maintained in order to avoid tipping offthe bankers.