Lampco Federal Credit began its life connected to the automobile, and a new marketing partnership with a local racetrack will continue with that tradition.
Lampco recently began sponsoring a class of racecars at the Anderson Speedway and now has its name and logo prominently displayed on billboards, in the race program and on the "Street Stock" racers every Saturday night.
Lampco FCU was founded in 1962 to serve a sponsor company that built headlights in local factories that were shipped to auto assembly lines. Changes in the auto manufacturing industry have led to reductions in such production across all of Madison County, Ind., and today Lampco FCU has a community charter and can accept anyone who lives, works or worships in the county.
Anna Shope manages one of Lampco's two branches located near the race track and called Anderson Speedway a unique attraction and cultural landmark in the county.
A January presentation by Anderson Speedway Marketing Director Clif Blossom convinced Lampco officials that while they could attract new members at the 10,000-seat raceway, they could also show their support for a local landmark.
"It's been around for so long. We decided it was important for us to support it," Shope said. " It only took a few days to decide. We knew when he presented it to us. "
Anderson Speedway was opened in 1948 and bills itself as the fastest quarter mile in the world. It has several classes of racing cars including the small sprint cars long associated with the State of Indiana. For nearly 60 years each May, Anderson Speedway holds the annual Little 500 race with 33 sprint cars blasting around the quarter-mile track for a full 500 miles.
Ongoing Promotion
During a race, track announcers mention Lampco as a racing class sponsor over the public address system, fans see a full-page ad in each week's program and a 10-foot-by10-foot billboard fastened to the rear of the grandstand greets race fans as they enter through the front gate. The Anderson Speedway will also hold special value days for Lampco members who will get a reduced rate to enter a race, she said. Shope said while she isn't a big race fan herself, Blossom's presentation proved to her the value of the track in the local community and detailed the wide variety of people who attend races. A wide variety that's perfect for a community-based credit union, she said.
"We felt it was a really good deal for us," she said. "It's a good fit for us."
Blossom said while he's worked at Anderson Speedway, he has never seen a financial institution as a racing class sponsor and that the demographics of the track match the potential membership of Lampco FCU. Blossom said Anderson Speedway literally attracts generations of race fans each weekend. Blossom also said Lampco's own history in the community in turn adds to the racetrack's image and reputation. Blossom said the negotiable racing class sponsorships start around $10,000 and lasts all season.
"It's 27 weeks of us saying their name and people seeing their name on the cars," Blossom said.
Shope said it was too early to report any impact of the race sponsorship that started April 1. Lampco FCU serves more than 15,000 members with $65 million in assets.
