PCUA to Launch $2.25 Million Dollar Credit Union Awareness Campaign
HARRISBURG - Recognizing an overall lack of credit union awareness and a decrease in membership growth, the Pennsylvania Credit Union Association has approved an 18-month credit union awareness campaign. The statewide $2.25 million dollar campaign will be funded through a mandatory assessment for all member credit unions starting in 2007. The campaign will feature television advertising, along with radio, and other new media opportunities in all media markets across Pennsylvania.
“Pennsylvania credit unions have only 3.3 million members, out of 12 million residents,” said PCUA Chairman Norb Kaczmarek, President/CEO, Erie Federal Credit Union. “Clearly, there are a lot of Pennsylvanians who are not credit union members. These consumers are undoubtedly paying more for loans and receiving less on savings. I am confident that they would benefit from joining a credit union,” commented Kaczmarek.
In 2005, Chairman Kaczmarek appointed a Marketing Task Force to look at the issue of credit union marketing and advocacy. The Task Force, headed by Michael Kaczenski, CEO, Sun East Federal Credit Union, Aston, consisted of 13 credit union executives from throughout the state. The Task Force looked at the current PCUA efforts, specifically the Statewide Network of Advertising in Pennsylvania (SNAP), a voluntary program; along with other state credit union league and other industry initiatives. Following lengthy discussions, a recommendation was made to the PCUA Board of Directors for a mandatory assessment, which was then approved by the Board of Directors.
“I commend the Board of Directors and the Task Force for initiating this bold campaign,” said PCUA President/CEO Jim McCormack. “It has been proven that using mass media, messages are delivered. However, it takes a significant monetary expenditure to reach all the markets in Pennsylvania.”
The campaign is slated to begin in July, 2007 through December, 2008. Both pre- and post-testing will be conducted to measure the campaign results. To develop and guide the campaign message, a Marketing Steering Committee is being put together using credit union marketers from across the Commonwealth. For continuity, Michael Kaczenski will serve as the Chairman.
The mandatory assessment will be as follows:
|Under $20 Million
||.000025 of Assets as of 6/30/06
||.00005 of Assets as of 6/30/07
|Above $20 Million
||.000050 of Assets as of 6/30/06
||.0001 of Assets as of 6/30/07
To detail the campaign, six regional meetings have been scheduled throughout the state starting October 27 and concluding in State College on November 20.