COLUMBIA, Md.-Credit unions in Maryland, the District of Columbia and Northern Virginia are planning to role out an ambitious media and awareness campaign aimed at making credit unions in the region "dominant in the financial marketplace." Coordinated by the Maryland and District of Columbia Credit Union Association, the campaign is to include a major consumer expo, a partnership with a Washington newspaper, and an expanded cooperative ad campaign.
The impetus for the effort, according to the Association, is two pieces of research: a poll conducted by Hart Research that found 41% of respondents indicated a lack of knowledge about credit unions was their primary reason for not considering joining, and another poll conducted by the MDDCCUA that found many consumers interested in CUs after learning about the products and services available.
On March 6 the MDCCUA's Washington DC Chapter will host an inaugural Dollars & Sense Expo (DSE) from 10 am until 3 pm on Saturday at the Friendship Collegiate Academy and will include Rep. Eleanor Holmes Norton as a speaker, consumer workshops, free tax preparation in partnership with Howard University, free credit reports and more. That event is based upon the Money Power Day in Baltimore, which now attracts more than 1,500 consumers.
"We wanted an event that would benefit a large number of consumers in a convenient location and with as many services as possible," said Kathy Geary, president/CEO of HEW FCU and President of MDDCCUA's DC Chapter.
The Association is also partnering with the Washington Examiner to publish a newspaper supplement promoting credit unions that will be distributed to consumers and to legislative offices on Capitol Hill and be funded by advertising from DC-area credit unions.
The Expo and the supplement come as the MDCCUA is rolling out phase two of a three-year media campaign that includes electronic, print, PR and social media components. The budget for phase two is $350,000, up from the $215,000 spent in 2009. All of the efforts are part of a three-year strategic plan created by the MDCCUA to raise awareness and usage of credit unions.
"Consumers are hungry for more options in financial services, and all of our research demonstrates that we have a real opportunity to convince consumers to make the switch from banks," said MDDCCUA CEO/President Michael Beall.
