Links in “Marketing”

The credit union community has raised over $525,000 in pledges for this Sunday’s Cherry Blossom 10-mile run in Washington, DC.  Over 15,000 runners are expected to participate and 165 members of Congress have signed on to serve as honorary race chairs.  Proceeds from the run go to the Children’s Miracle Network. [4/7/15]

Some credit unions that have dropped “credit union” from their name when promoting their services report no backlash from their members, but are these credit unions missing the opportunity to capitalize on a brand that is consistently cited by consumers as providing the best in financial services? [4/3/15]

If your marketing focus is still branch-centric, you may want to reconsider that strategy. A recent study shows that 70% of likely checking account applicants would prefer to open their accounts by submitting a digital application. [3/27/15]

Yes, that “B” word, “banking.”  A survey by the Missouri Credit Union Association revealed that the primary reason consumers gave for not joining a credit union was a lack of familiarity with what credit unions are all about.  Using the term “banking” or “bank” in marketing and advertising materials helped consumers to understand what credit unions offer by using terminology with which they are familiar. [3/23/15]

The CFPB has taken action against a Maryland-based nonbank lender, NewDay Financial, for deceptive advertising and kickback schemes. The company will pay $2 million in civil money penalties. [2/11/15]

Do you know the red flags that regulators are currently watching to identify potential violations of fair lending requirements in marketing and advertising practices? This article looks at enforcement trends, the issues that need to be addressed regarding targeted marketing campaigns, and the need to ensure that differences in lending practices are based on credit-related factors. [2/6/15]

Two car title lenders, First American Title Lending of Georgia, LLC, and Finance Select, Inc., were charged with deceptive advertising. Both companies advertised an interest rate of zero percent for a 30-day car title loan without disclosing important conditions. [2/2/15]

"Everyone can bank here." That advertising slogan caught the eye of the ABA, which wrote to the NCUA chairman to point out that NRL Federal Credit Union may be circumventing field of membership requirements. [12/16/14]

CUNA has written to the FCC in support of an exemption for credit unions and other financial institutions from provisions of the Telephone Consumer Protection Act that restrict automated calls to mobile devices. CUNA argues that financial institutions should be able to send non-telemarketing messages that address topics such as fraud or identity theft alerts, possible data breaches, or concerning actions needed to arrange for receipt of pending money transfers. [12/9/14]

The author of this article argues that if your credit union wants a piece of the $2.4 trillion dollar pie ($2.4 trillion dollars being gen Y's aggregate income in 2010), you need a "responsive website." [11/12/14]