SOPOT, Poland — This country's credit unions have rolled out an ad campaign that has Poland's banks hopping mad ("
CUJ: Can you describe the events and thinking that led up to the decision to create the "Don't Blame Us, We're Not Banks" campaign?
Bierecki: Every day the media talks about bank problems, bankruptcies and bailouts. People are convinced that banks hold the responsibility for the crisis. We made the decision to launch the campaign that shows the difference between banks and CUs. People have to understand that a CU is not just another bank. And they should not blame us.
CUJ: Did you anticipate the response the campaign received, and what surprised you most about the response?
Bierecki: We expected banks would not like it, but they started to cry over it on TV and in daily newspapers. This gave additional impact to our campaign and greatly, and surprisingly helped us to spread the message: We are not banks.
CUJ: Has CU membership in Poland seen an increase as a result of the campaign?
Bierecki: There is certainly a noticeable growth of interest in credit unions resulting mainly from the credit crunch in the banking sector. And, yes, the campaign made more people aware of the affordable alternative financial institution that serves their members continuously in spite of the crisis.
CUJ: You (Poland's credit unions) have been speaking out on the issues of financial exclusion. What is the issue here, and how do Poland's credit unions differ from Poland's banks on this issue?
Bierecki: The issue of access to basic financial services, including access to personal accounts, is a real problem even more so for the new members of the EU such as Poland. The services offered are increasingly expensive, complicated in its nature and not user friendly for the elderly, less educated or poor. The language used, including the highly specialized vocabulary and lengthy and costly banking procedures, discourage lots of people, particularly those who are vulnerable, to apply for a bank account. Credit unions offer less expensive, basic, transparent and user-friendly savings accounts for around five euro a month. We are also strong on personal finance advice, which is offered to our members cost-free.
CUJ: Can you clarify for American credit unions, Do Poland's financial institutions have to abide by a European Commission recommendation, or is it just that, a recommendation?
Bierecki: Yes, so far it has a rank of legal recommendation, which pretty often translates into a legal requirement after a period of time.
CUJ: What are some of Poland's credit unions' next objectives and goals?
Beirecki: We continue our long-term development strategy and will likely reach 2 million members long before year end. We would like to move strongly into financial inclusion and education, provide assistance to emerging credit unions movements in Eastern Europe, develop some new business models and continue serving well our members in an increasingly challenging economic environment.
