PLYMOUTH, Mich. -
MCUL President Dave Adams said the ads are designed to tell Michigan residents that even though economic times are tough here, after Comerica is gone, the neighborhood credit union will still be there.
"This isn't bank bashing. It's an opportunity handed to us by our biggest competitor," he said. "Credit unions are here for the long haul, because we care about Michigan."
As Comerica Bank announced the move only on March 7, Adams said the league had to move quickly to create the two radio spots, taking $500,000 from a league reserve account and raising more funds from member credit unions.
The March radio ads are not part of the $1.5-million, CU co-op awareness campaign, which includes television ads, the MCUL normally runs each fall, he said.
Founded as the Detroit Savings Fund Institute in 1849, Adams said the presently Detroit-based bank will still employ 7,300 people throughout Michigan, after moving its headquarters to Texas.
Michigan credit unions aren't the only financial institutions set to remind consumers about who's staying behind during the tough times. Adams said Midwest powerhouse Fifth Third Bank announced a $100-million investment in southwest Michigan communities after Comerica disclosed the headquarters move and third-largest Michigan bank, Flagstar, ran full-page newspaper ads touting that it was "Proud to be in Michigan."
The 60-second radio commercials will run hundreds of times per week covering nearly the entire state of Michigan. In Detroit, the spots will air 325 times each week for March and in the larger Flint-Kalamazoo market, the spots will play as high as 700 times.
Adams said the Michigan league considers its CU awareness campaign as an integral part of its advocacy program which consists of grassroots lobbying, cooperative advertising and community initiatives that are reported to state and national legislators.
Adams said the league conducts extensive pre- and post-campaign surveys to track consumer awareness of credit unions each year, so a special survey won't be needed for the March ad blitz.
Adams said MCUL research shows that Michigan consumers get and retain the central CU message that the Comerica Bank move reinforces.
"It suggests banks are about profit, not community and therein lies the difference. I think banks sometimes their own worst enemy in these public relations issues," Adams said. "This is a golden opportunity to highlight the difference."
