Restricted Funds Report: Together We Make a Greater Impact
Monday, July 22, 2019
MnCUN works proactively to create an environment for credit unions to grow market share. To help achieve this goal, MnCUN has established restrictedfunds to strengthen our advocacy efforts on behalf of Minnesota’s credit unions – the Awareness Fund and the Advocacy Fund.
Expenditures from the Credit Union Awareness Fund support MnCUN’s public affairs strategies, including public relations and media relations activities, research, and consumer awareness initiatives.
In early 2018, the Awareness Fund dollars were raised with the intention to continue the Choose Minnesota Credit Unions awareness effort. In March 2018, after the unveiling of the Open Your Eyes campaign at CUNA’s GAC, the committee met and agreed to the alignment of Minnesota’s and CUNA’s awareness efforts. The Choose Minnesota Credit Unions campaign was put on hold. Additional funds were raised to support the 2019 Open Your Eyes campaign, and $500,000 of the 2018 Awareness Fund contributions were allocated to support the launch in Minnesota.
Both digital media strategies and out-of-home marketing are deployed statewide. Tactics include social media ads, streaming video & audio, and native ads; teamed with billboards, mass transit ads and event sponsorships.
Along with the Open Your Eyes to a Credit Union campaign, the Awareness Fund supports additional Public Affairs activities on behalf of Minnesota’s Credit Unions:
- Conducted the biennial consumer research study in January, 2019 with questions concerning both advocacy and awareness topics, to better understand Minnesota consumers’ perceptions of financial institutions.
- Managed the Credit Union News Channel to more efficiently share credit union news. 208 stories have been published January – June 2019 and MnCUN influenced 48 earned media mentions.
- Partnered with Fluence Media to sponsor editions of “Morning Take,” “Business Take,” “Ag Take,” and “Law Take,” daily online news previews, which reach 10,000 influencers in Minnesota.
The Credit Union Advocacy Fund provides resources to strongly position credit unions on the legislative and political fronts.
Expenditures from the Advocacy Fund are used to enhance MnCUN’s dues supported advocacy activities and increase credit unions’ impact, examples include:
- Election sponsorships in the 2018 election cycle. This included debates, web ads and election coverage with 2.7 million impressions to ensure that Minnesota Credit Unions’ messages were in front of candidates during a tumultuous election.
- Minnesota support for Credit Union House in Washington D.C. Credit Union House is owned by state leagues and AACUL to provide an event center and meeting space on Capitol Hill.
- The National Advocacy Fund, which is coordinated by CUNA, and finances grassroots advocacy, electoral polling, research, and partisan communications. National Advocacy Fund dollars have been deployed in Minnesota for election engagement, taxation polling and radio ads.
- Scholarships for Hike the Hill attendees. Two scholarships were given to Hike the Hill attendees for 2018.
- Public Affairs efforts which include engaging Fluence Media for public affairs support and messaging.
The Minnesota Credit Union Network would like to thank credit unions for their support of the Awareness and Advocacy Funds. Full report details and financial statements have been mailed to member credit unions.