Presidential election years are welcomed by television stations across the country. This is a revenue stream that is counted upon to make budgets. However, it does present problems to clients; there is not enough room for everyone. The MCUL Cooperative Advertising Committee recognized this in 2008.
Instead of the annual fall cooperative advertising campaign, the Committee chose to run the campaign in the spring, outside the time frame of the November election.
“Trying to put the credit union message up against a U.S. Presidential election is not good business,” said MCUL Cooperative Advertising Committee Executive Director Lee Ann Mares. “Television and radio stations put a premium on fall presidential slots. We ran the risk of being lost or even bumped for new commercials.”
A spring advertising flight also presented a new set of challenges, however. Coming off a 2007 fall advertising campaign, credit unions were asked to contribute right away in the first quarter of 2008. But this proved to be no obstacle at all.
More than 50 percent of credit unions signed on for 2008, representing a five-percent increase from 2007. This also included more than 30 credit unions that did not participate the previous fall. Credit union contributions came to a little more than $700,000 which, coupled with the MCUL match, yielded a $1.5 million media buy for the spring campaign.
“Cooperative advertising is a essential element of the MCUL’s three-tiered advocacy strategy,” said MCUL President/CEO David Adams. “Together with CRI (the Community Reinvestment Initiative) and strong legislative advocacy, this strategy is promoting and protecting the credit union movement’s independence, our tax exemption and the interests of Michigan consumers.
“To have an increase in participation shows that credit unions recognize the benefit from the unified message consumers receive during the campaign — that there’s a profound difference between member-owned financial cooperatives and other financial institutions, and that people have a lot to gain from becoming a credit union member.”
Credit unions that participate also have the opportunity to market their message to enhance the television and radio portion of the campaign. Posters, statement stuffers, table tops and direct mail pieces are available through the Cooperative Advertising channel of the MCUL Web site. For a small fee, credit unions can order the materials and customize.
“These collateral materials can have a big impact on the market,” said Mares. “For potential new members, if they see the ads and stop by a credit union and see the message on the counter or the wall, it reinforces the credit union difference.”
Mares also noted that a turn-key marketing plan is available on the Cooperative Advertising Web site. This will help credit unions get the most out of the campaign, while also improving their profile within their respective communities.
The 2008 cooperative advertising campaign commercials may be viewed by going to the MCUL YouTube site at http://www.youtube.com/user/MCUL6. The Cooperative Advertising Web site has additional information and can be accessed by visiting http://www.mcul.org/Cooperative_Advertising_589.html. To learn more about cooperative advertising, contact Mares at lcm@mcul.org or (800) 262-6285, Ext. 515.
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Regulatory Affairs
