Credit unions are non-profit organizations offering a compelling alternative to banks, offering higher rates of return, lower fees, and a ‘people helping people’ attitude. Typically associated with a company, group of companies, group of individuals, and/or a local community, credit unions face a challenge in building awareness of their strengths, attracting new Members and winning market share. NAFCU Services Corporation is looking for a way to empower credit unions with high-quality ads blending a national message with a local focus. Winning ads will be provided free of charge to NAFCU Members, customized with their local information (for an additional fee to the creator of the ad).
Deliver a high quality 30-60 sec Ad (Live, animation, or other) suitable for use on individual credit union websites, and/or on local TV/cable, which are capable of being customized for any individual credit union. Ad creator will receive a flat fee of $150 for basic customization, to insert/add specific FCU details. (This fee is payable by the individual credit unions).
NAFCU Services Corp provides innovative solutions for growth and productivity to credit unions. Our parent organization is the 800-member National Association of Federal Credit Unions. We want to extend our ‘solutions focus’ to solving two key challenges for credit unions – building awareness and branding. An individual credit union does not have the advertising and branding resources of banks, and as a result they often find themselves challenged in competing for mind-share online and on TV/cable.
Objectives: We’re looking to empower credit unions across the country with high-quality video that they can use either online or locally on TV/cable, focused on the benefits of joining a credit union. The ads should be a blend of a national message and a local one – think of a car ad, for example, where the first 2/3 of the ad is a slick corporate production of a car being run through its paces, and the last 1/3 features a local dealer, or local dealer contact information. Or some of the viral videos that allow you to insert information that becomes part of a customized ad.
NAFCU Services and NAFCU should not be mentioned in the ads, because this awareness and branding challenge is not about us, but about credit unions.
Brand Positioning: Credit unions are able to garner consistent recommendations from national consumer publications as one of the best deals out there, but often find that that their message is drowned out by all the advertising done by competing financial institutions. Credit unions should be positioned as a safe, sound and more rewarding alternative for any individual. The brand should emphasize the positive attributes of credit unions, and (despite several of the links above) ads should not be negative with regard to competing financial institutions. While ads may be cutting-edge and humorous, they should not be risqué.
Brand Character:
- Higher rates of return
- Lower fees
- People helping people
- People first
- People over profit
- Non-profit/higher mission
- Safety and security
- Deep community ties
- Member-owned, Member-run
- Service-focused – treating members like people
Target: People currently using other financial institutions that should be considering alternatives for their primary financial institution. Credit unions serve consumers at all levels of income, often with a particular focus on helping low-income communities – many even include an “underserved” area among their field of membership as well. One specific challenge is reaching a younger demographic (18-25) that may not even be aware of what credit unions are.
1st Selection: $3,000
2nd Selection: $1,500
