Marketing

The National Association of Federally-Insured Credit Unions' new campaign highlights $243 billion in fines slapped on Wall Street banks. The group says it's responding to political attacks, but the banking industry says NAFCU is trying to distract from criticism of its tax exemption.

The company says that marketing its deposit products could help build deeper customer relationships, particularly with student loan borrowers. “We're not just a credit card issuer,” CEO Roger Hochschild told analysts.

Lincoln Parks at Heritage Bank in Georgia built from scratch its social media following, a digital-only way to open accounts and (in 48 hours) a Paycheck Protection Program lending system. For these and other efforts, Parks is a runner-up for American Banker’s Digital Banker of the Year.

The credit card issuer benefited from consumer loan growth in the third quarter, but investors seemed spooked by increases in its marketing and technology costs.

Banks generally did not curtail loans to existing cardholders last year despite mass unemployment, according to new research by the Consumer Financial Protection Bureau. The results contrasted with what happened during the Great Recession.

The banking industry is now enjoying a "strong" reputation overall, after building on gains made at the height of the pandemic. Here's who stood out and why.

Pro basketball sponsorships have long been the domain of banks and other traditional advertisers. But now companies like Chime, LendingTree and FTX.us are making their names known through partnerships with NBA teams.

The agreement will likely end a three-year-old dispute over allegations that the company misled borrowers by promising no hidden fees on its consumer loans.

While most financial institutions have been focused on upgrading their digital channels, Andrews Federal Credit Union in Maryland listened to its customers and modernized its newest branch. Among the new features are video teller machines, touch screens offering online and mobile banking tutorials and a game area for children.

The regional bank wanted to make more timely and relevant offers to its customers, especially in the realm of online and mobile banking. It worked with several vendors on a system to analyze customers’ activity and push out personalized recommendations.

The change reflects the name of the Susser family, which bought the bank in 2018.

The move formalizes the use of the Rocket Mortgage moniker, which has been a major part of the company’s branding since 2016.

The feature has become popular during the coronavirus pandemic, providing a quick and simple way for credit unions to confirm users' identities as well as promote products and services.

Other banks soured on their AR experiments, but Ally Financial says the technology has yielded higher-balance deposit accounts — and heavier social media engagement — in marketing campaigns.

The probe is the latest example of the consumer bureau scrutinizing sales tactics at big banks following the Wells Fargo fake-accounts scandal. U.S. Bancorp said it is cooperating fully.

Reissman joined Seacoast in 2014 and led several departments before being promoted to chief marketing officer last year.

The Massachusetts community bank, which rebranded last summer, landed on affiliate marketing as one cost-effective way of attracting choice customers to its business checking and crypto banking capabilities.

Now known as Alltrust Credit Union, the Fairhaven, Mass.-based institution serves more than 14,000 members across New England.

The Iowa company, which operates a dozen individually branded banks, now has a name that matches its stock symbol.