Credit Union Cooperative "Destination"Advertising Hits the Big Leagues with Money Magazine Spots

HUNTINGTON BEACH, Calif. – nuVision Financial Federal Credit Union is one of a few credit unions that have turned to “destination marketing.” nuVision ads and “advertorial features” have appeared in the February, March and April issues of Money magazine and have gone a long way to building the credit union’s reputation. “We have very specific strategies that we’re fulfilling with our media choices and our creative-and Money magazine offered us a way to communicate our full service approach to the sophisticated consumer,” said nuVision Financial FCU Vice President/Chief Planning and Development Officer Kerry Lewis. To play up specific services while establishing a position as a financial information resource in Money magazine, nuVision Financial FCU’s features ranged from “Credit Unions: Fast Growth a Result of Service Focus” and “Team Up with a Credit Union to Buy Your Next Car”, which included information from Autoland to “Managing Your Money Easier at a Credit Union”, which highlighted facts from the California Credit Union League and a CO-OP Network editorial. The concept, dubbed “Inventive Cooperation”, was created by Redondo Beach, California-based credit union marketing firm Market and Sales Logic principal owners Kristin Witzenburg and Kristie Greenleaf. “Belonging to a credit union is a lifestyle choice for consumers so we based this concept on building public awareness and education on what is a credit union and how to join a credit union that is the right fit for members,” said Witzenburg. “Basically this model creates economy of scale in buying media and leverages credit union and alliance advertising dollars into top tier advertising campaigns.” Here is how it works. Market and Sales Logic buys large blocks of advertising with media sources such as Los Angeles Magazine, Los Angeles Times, San Francisco Magazine, San Francisco Chronicle, San Jose Mercury News, Money Magazine, and the Adventure Highway television show on the Outdoor Life Network. The company then offers the spots to credit unions at a discounted price. Costs start at $1,000 and can go up to $30,000 or $90,000 for participation in all year programs. So for example, Witzenburg says where a one-time full-page ad in the LA Times might cost $25,000 credit unions can pay the same amount for a yearlong commitment in the same publication and LA Magazine. Credit unions can opt to be featured exclusively or cooperatively and Market and Sales Logic handles the copywriting and market research to customize a program that will maximize the credit union’s strategic and target market goals. “We’re both former credit union executives and we recognize that for credit unions advertising is the biggest hurdle to get over,” said Witzenburg. “This way not only does the credit union movement benefit from being in high profile publications but it is a great way to position the individual credit union’s brand.” Seven credit unions participated in the initial pilot program, which has now swelled to 26 credit union and alliance participants. Witzenburg says the program is not just limited to California credit unions and plans are underway to launch the Adventure Highway segment this fall in outdoorsy markets such as Sacramento and Fresno. The new campaign revolves around sponsoring the popular national adventure sports show, which tours the country shining the spotlight on various local extreme or adventure sports. “We’ve been receiving calls from credit unions in Los Angeles and San Diego who are interested but we are also looking at credit unions in other states such as Utah where it makes sense to do a sports themed campaign,” said Witzenburg. “What is great is that now the media is coming to us with great deals and discounts up to 81% on advertising.” [email protected]