COLUMBUS, Ohio - One Washington credit union is reporting it used something as mundane as a member vote on a conversion from a federal to a state charter to not just re-connect with its own members but to attract more than 1,000 new members, as well.
The $708-million Kitsap Credit Union had grown to a point where it needed to expand to a community charter to continue growing, explained Kurt Jacobson, president of JayRay, a marketing/communications firm based in Tacoma, Wash., which handled the election campaign for Kitsap. “Their federal charter would not allow them to expand outside their current areas. But Washington State is very good at granting community charters,” Jacobson said.
Instead of simply presenting another election to members–the same effort failed on a 2005 ballot–the CU made the election “an event” that relied on integrated communications to reach a number of audiences, Jacobson said. Jacobson shared with the Ohio Credit Union System’s annual meeting the details of that effort, which not only reversed the 2005 vote but also generated a 16% response, the highest turnout for a CU election last year, according to Jacobson.
In 2005, 62% of the 6,000 members who participated in the vote voted against the proposal to go to a state charter. Kitsap FCU has 72,000 members.
Before the credit union set out on its 2007 campaign, JayRay spoke with members to learn about the 2005 election and discovered that members who chose not to vote did so because they didn’t think their vote counted or that the issue was “too complex.”
Kitsap and JayRay made the issue “simpler” for members. Backed heavily by print and signage that used member comments about what they like about Kitsap, the CU shared a straightforward message about the value of the credit union and its need to grow. That tack was chosen, Jacobson said, because research showed that the community and members “loved” the credit union.
Over the years, the Bremerton, Wash.-based Kitsap had expanded its base of member business loans to the point it was up against the 12.25% of total assets cap on such loans. Yet there was still significant demand it wanted to meet.
“Working together for a healthy tomorrow” was the tagline for the election effort that engaged the community as well as members. Kitsap reached out to local media and community organizations, which responded, Jacobson said. And they relied on “ambassadors”–credit union members and key members within SEGs–to tell the Kitsap story.
When working on an election, Jacobson explained, it’s important to “make whatever you are working on bigger than just that one issue” and involve the community.
“And rather than use staff in your ads and advertising agency people to write cute messages about the credit union, use the voice of the people the credit union serves. The power of the campaign comes from outside the credit union.”
Kitsap also gave awards to community organizations that best followed the credit union’s “working together” tagline, to position the CU as an “expert” in this area.
“Elections are a great opportunity for credit unions to reconnect with members and help them understand the credit union difference,” Jacobson said.
Costs for the campaign were derived by redirecting funds from a number of CU budgets, such as marketing and public relations, Jacobson added.
