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 The issues of credit union awareness, membership growth and branding have become hot topics among leagues and credit unions across the country.
Here in Illinois, we face the challenge of awareness. Sadly, Illinois consumers are uninformed about credit unions. Many don't know what a credit union is or how they can benefit from membership. Those who do know the benefits of credit union membership don't realize that they are eligible to join one or more credit unions.
To that end, the Statewide CU Awareness/Membership Growth Task Force, in cooperation with the Illinois Credit Union League, has been working since the beginning of this year to develop a comprehensive program to increase the awareness among Illinois consumers, which was first introduced at the Annual Convention in April. As a replacement to the Illinois Cooperative Advertising Reaches Everyone (I-CARE) program, this proposed effort will entail media coverage to reach consumers in every corner of Illinois, including newspaper ads, radio ads, and a campaign Web site, as well as supplemental materials provided to participating credit unions to support the effort with direct mail, newsletter articles, press releases and web graphics.
In addition to the awareness issue, the task force is investigating a new effort for several key reasons. These include declining membership among peak borrowers ages 25 – 44, and an overall aging credit union membership. According to CUNA's E-Scan, the average member age is 47 and the average non-member age is 41.8. Thus, the objectives of the program include: educating consumers about credit unions; positioning credit unions as the financial institution of choice; increasing the reach and frequency of the message; and continuing to build political awareness.
Most recently, a free webinar was held on September 20 to provide information and updates about the proposed statewide campaign. More than 35 credit unions were in attendance. In addition, the Task Force presented the plan at the League’s Small Asset Size conference earlier this summer.
This month, ICUL member credit unions across the state will receive a mailing about the campaign asking them to plan to include a contribution to the branding campaign in their 2008 marketing budgets.
For more information about the campaign, media planned, statewide coverage and funding, please contact John Bratsakis, ICUL Vice Chairman, at (847) 932-8624. Information is also available via the League's Web site. Included on the site is the Power Point Presentation from the Webinar, as well as links to other state league efforts and recent articles in trade publications.
The task force will be presenting its proposal and a request for funding to the League and Service Corporation boards in November.
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