Banks and credit unions have been creating some interesting campaigns to attract customers leaving large corporate banks. To continue the momentum from Bank Transfer Day, University of Kentucky Federal Credit Union launched the “lipstick on a bank” campaign to educate consumers and increase members.
In order to build credibility and raise awareness of the benefits offered by credit unions, University of Kentucky FCU launched the campaign and microsite at the beginning of 2012 to demonstrate that, “You can put lipstick on a bank, but it’s still a bank.” The campaign and microsite focused on three main benefits to consumers when they join a credit union like University of Kentucky FCU: membership, checking and loans, particularly emphasizing lower fees and better rates.
Megin Morgan, member development specialist at University of Kentucky FCU says of the campaign, “Our goal was to keep it simple and straightforward and to demonstrate why going with a credit union was beneficial.” The credit union has already seen a large increase in new accounts from the campaign which ran during the months of January and February 2012. With 706 new accounts in 2012 reported in early March, and 18 percent increase from 2011, Morgan notes, “We saw this as a successful credit union awareness campaign that seemed to get people’s attention. We could possibly re-run it again in the near future to keep the credit union movement momentum going.”
You can read more about University of Kentucky FCU’s campaign from Credit Unions Online here.
How are you bringing new customers and members to your financial institution? Tweet at @Bankingdotcom or let us know in the comments below.
Think your FI deserves special recognition? Send information to firstname.lastname@example.org.