Ensweiler: 'Bank' Is A Four-LetterWord
DALLAS - (04/11/05) -- If credit unions are serious aboutdifferentiating themselves from the banks, then they must stopusing "bank" as a generic term, urged Texas CU League CEO DickEnsweiler, during his report to the league's annual membershipmeeting. "We can show the credit union difference by getting thatfour-letter word out of your advertising," he exhorted. "I'm alwayspicking on credit unions that talk about 'better banking' or'smarter banking.' There's one that had a bill board that read'Live Anywhere. Bank Here.' How can we persuade our legislatorsthat we are different if we are using 'bank' in our advertising?"Indeed, Ensweiler related that when the league was meeting withlawmakers to persuade them to kill the provision in House Bill 3that would have taxed state-chartered CUs, one legislator handed asheet of paper over to Ensweiler. On it was emblazoned one creditunion's marketing tagline: "A Better Way of Banking." "We must getrid of the notion that banking is generic. It is not," he said. "Weare not like banks, and we must stop comparing ourselves tobanks."