"People receive so many messages every day (mobile, email, texts, tweets, voicemails, online and traditional advertising), it seems we're drawn more to visuals — pictures and videos — to help us get a message quicker and easier," she said. "If the old adage a picture tells a thousand words is true, perhaps a mascot creates that simple visual that communicates something positive to people in a way they appreciate."

Previously only associated with sports teams, mascots can be a great additional element to beef up attention as well as add personality and engagement around a brand. For decades mascots such as the Michelin Man (1898) and the Pillsbury Dough Boy (1960s) have become familiar mascots branding their respective products, so it's no surprise that credit unions have added mascots to their portfolios.

"I think mascots are an unique marketing tool that take your marketing efforts to the next level," said Tara Houser, vice president of marketing of the $154 million First Capital Federal Credit Union in York, Pa. "Mascots may create an emotional connection to your credit union or a certain product that traditional marketing channels may not. I would recommend using mascots if it's a fit for the credit union and what they are trying to accomplish."

Scuba Sammy, Starry Starfish and Roxy the Rockstar promote First Capitol's Deep Sea Savers accounts, which are savings accounts for young members.

Reddy is getting a custom comic strip in the Redwood's newsletter. The strip will depict the adventures of Reddy, and along the way share important money tips and lessons for youth members to benefit from, McKenzie said.

"Redwood Credit Union continues to support and promote our mascot," she said. "Reddy the Redwood. resonates with people and is effective for us and Reddy's part of the RCU family. Mascots are positive and fun, and after a long, arduous recession, perhaps readers are looking for positive, fun, creative and feel good stories that make them smile."