Pennsylvania Credit Union Association

New TV Campaign Promotes Benefits of CUs

7/9/2007

HARRISBURG – Research indicates that Pennsylvanians who are members of credit unions save an average of $76 per member or $145 per member household annually.  Statewide, this equates to $257,467,381 in direct financial benefits to the state’s 3,365,789 members during 2006.  Unfortunately, there are millions of Pennsylvanians that are not saving money because they are not a member of a credit union.

            To promote awareness and the availability of credit unions to Pennsylvanians, a statewide television, radio, and web-based advertising campaign featuring the theme iBelong launched July 9 across all Pennsylvania markets.  Consumers seeking a credit union will be directed to iBelong.org, a web site that features the campaign spots, facts about credit unions, and most importantly, an online locator.  The 18-month, $2.25 million dollar campaign is a cooperative effort on the part of more than 500 credit unions operating in Pennsylvania through the Pennsylvania Credit Union Association.

            Overall, Pennsylvania credit unions offer lower average loan rates on new car loans, used car loans, personal unsecured loans, first mortgage fixed rate, first mortgage-adjustable rate, home equity loans, credit cards loans and other loans.  They also pay members higher average dividends (interest) on savings, checking, money market, certificates of deposit, IRAs and other accounts.

For the fourth consecutive year, credit unions beat banks and other financial service providers in customer advocacy and loyalty rankings, according to a new report from Cambridge, Mass.-based Forrester Research Inc.  Forrester, a technology and market research firm, surveyed 5,000 U.S. consumers who evaluated 53 leading U.S. financial institutions, brokerages, insurers and credit card issuers.

Credit unions are non-profit financial cooperatives that provide affordable financial services to help their owner/members.  The Pennsylvania Credit Union Association, based in Harrisburg, provides legislative, professional development, and operational support and services for 500 credit unions in Pennsylvania.  These credit unions have assets in excess of $24 billion and serve nearly three and a half million members.  For additional information about credit unions or to find a credit union near you, visit www.ibelong.org.