Minnesota was the first state to launch the national Credit Union Consumer Awareness Initiative in 2019 and since then, has seen both increased average membership growth and consumer familiarity of credit unions. The campaign’s digital-first strategy positions research-proven messages to put credit unions at the center of consumer consideration when needing a financial service.
See the update Minnesota Credit Union Network President & CEO Mark Cummins gave about Credit Union Awareness in CUInsight. The initiative promotes the consideration of credit unions to consumers statewide through a cooperative advertising effort, and is an important element of MnCUN’s 50x30 goal – 50% of Minnesotans belonging to a credit union by 2030. As we enter the fourth year of the initiative, we are excited to debut a new national creative platform to help move consumers from awareness to action, and align messaging with advocacy and financial inclusion efforts. Thank you to the credit unions who have committed to support this ongoing effort with a contribution to the MnCUN Awareness Fund. Contributors to the 2022 campaign will receive use of new marketing materials; plus preferred placement on the campaign’s credit union locator – www.youmoneyfurther.com. We are excited to introduce further enhancements and new features coming this spring including an enhanced locator and lead generation tools. The campaign represents the true spirit of the cooperative movement to help consumers understand the advantages being a credit union member. With questions, please contact Andrea Molnau, VP Communications & Engagement, by email or 651-288-5527. We look forward to continued success in 2022! Minnesota’s Awareness Initiative continues to make strides in boosting consumer consideration of credit unions. At a webinar on Monday, the analytics from the 2021 campaign, December ad recall poll results, and 2022 updates were shared.
Our most recent, year-end, Google Poll noted ad recall of respondents in our target demographic increased from 34% in 2020 to 43% in 2021. Further, 55.2% indicated they are likely or very likely to join a credit union; an increase of over 5 points from the previous year. 2022 will bring new brand concepts, and a major upgrade and redesign of the Your Money Further website. The next phase will also shift focus from Awareness and Consideration to Consideration and Conversion. Credit Unions are encouraged to continue financial support of the Minnesota Awareness Initiative for 2022. The initiative promotes credit unions to consumers statewide through a cooperative advertising effort, and is an important element of MnCUN’s 50x30 goal – 50% of Minnesotans belonging to a credit union by 2030. The session was recorded and MnCUN members can access both the video and the slide deck online. Please note a log in is required. With questions, please contact Andrea Molnau, VP Communications & Engagement at amolnau@mncun.org. Please join us for a webinar on Monday, December 13, 2021 from 1 – 2pm, to review the analytics from the 2021 campaign, hear our most recent ad recall poll results, and learn more about what’s coming next in 2022. We will be joined by Christopher Lorence of CUNA Awareness, and Blois Olson of Fluence Media.
The Awareness program has achieved fantastic results, and we’re already building on that success towards an even brighter future. We look forward to a new consumer-focused website, new credit union locator, and brand-new customizable marketing materials focused on elevating the credit union difference and driving consumers to take action to join a credit union. We are excited for the next phase of this incredibly important initiative, and we THANK YOU for your continued support! The webinar is free although we ask that you please register. The session will be recorded. With questions, please contact Andrea Molnau, VP Communications & Engagement at amolnau@mncun.org. Please join us for a webinar on Monday, December 13, 2021 from 1 – 2pm, to review the analytics from the 2021 campaign, hear our most recent ad recall poll results, and learn more about what’s coming next in 2022. We will be joined by Christopher Lorence of CUNA Awareness, and Blois Olson of Fluence Media.
The Awareness program has achieved fantastic results, and we’re already building on that success towards an even brighter future. New consumer-focused website, new credit union locator, and brand new customizable marketing materials focused on elevating the credit union difference and driving consumers to take action to join a credit union. We are excited for the next phase of this incredibly important initiative, and we THANK YOU for your continued support! Check out this preview video debuted at Accelerate 21. The webinar is free although we ask that you please register. The session will be recorded. With questions, please contact Andrea Molnau, VP Communications & Engagement at amolnau@mncun.org. Minnesota’s 2021 Credit Union Awareness Initiative going strong. The campaign is a research-based effort to grow awareness of credit unions as the best financial partner for consumers. Digital media ads continue to drive consumers to the YourMoneyFurther.com website to learn more about the advantages of credit unions.
Though August 31, the campaign has garnered over 44 million digital impressions through Online Video, Banner Ads, Social Media and streaming TV ads delivered throughout the state. The Video Completion Rate for online ads is 57%, and streaming TV ads are 98%, showing consumers are continuing to watch the ads. Click through rates are meeting benchmarks and delivering consumers to the YourMoneyFurther website. Earlier this summer, MnCUN deployed several out of home tactics to supplement the digital efforts, including:
A result report through August 31, 2021 is available for credit unions to review and share with their staff and Boards. Furthermore, CUNA’s Credit Union Awareness team recently released their July 2021 bi-annual research results, showing the campaign has made significant progress nationally as well. The Awareness initiative represents the true spirit of the cooperative movement to help more consumers understand the advantages being a credit union member. With questions, please contact Andrea Molnau, VP Communications & Engagement, by email or 651-288-5527.
The State Fair presence comes after similar digital truck and mobile ads at other events such as:
Through July, the Awareness campaign had exceeded our impression and engagement goals for 2021 including matching or beating CUNA benchmarks on click-thru rates and CPM. The Awareness initiative represents the true spirit of the cooperative movement to help more consumers understand the advantages being a credit union member. With questions, please contact Andrea Molnau, VP Communications & Engagement, by email or 651-288-5527. The Minnesota Credit Union Network works to ensure the success, growth and vitality of our member credit unions. To help achieve this goal, MnCUN has established restricted funds to strengthen our efforts on behalf of Minnesota’s credit unions – the Advocacy Fund and the Awareness Fund.
The Credit Union Advocacy Fund provides resources to strongly position credit unions on the legislative and political fronts. The Advocacy Fund is proactive in nature, helping to create a strong credit union environment and augment MnCUN’s advocacy efforts. Expenditures from the Advocacy Fund are used to enhance MnCUN’s dues supported advocacy activities and increase credit unions’ impact through:
The Credit Union Awareness Fund is focused on increasing consumer awareness of credit unions, including but not limited to, commissioning research, working to expand media coverage, and coordinating other visibility opportunities. Expenditures from this fund promote the benefits and value of credit unions, helping to spread the word that credit unions are the best financial choice for consumers. The biennial consumer research study that was planned for January 2021 was conducted in August of 2020 to gauge consumer attitudes about credit unions while in the midst of the pandemic. Results showed familiarity with credit unions has increased 11 points from 2013 to 2020. Minnesota’s 2020 Awareness Initiative made strides in boosting consumer awareness of credit unions. 122,000,000 impressions were delivered in through OTT Streaming Ads, Social Media, Banner and Video Pre-roll, and statewide radio and transit ads. The year-end Google Poll conducted in December noted 34% of respondents in our target demographic recalled seeing our ads, and 50% indicated they are likely or very likely to join a credit union. In the first half of 2021, fresh creative was launched on Digital + Streaming ads and out of home efforts are being planned for the second half of the year. In addition, number of enhancements and new features to the national Your Money Further website were introduced. Along with the consumer awareness initiative, the Awareness Fund supports additional Public Affairs activities on behalf of Minnesota’s Credit Unions:
As restricted funds, expenditures from the Advocacy and Awareness fund are governed by their respective committees of credit unions, with input from MnCUN staff and consultants. Solicitation for these funds occurs each year in conjunction with the issuance of the Network’s annual membership dues invoice, as well as on an as-needed basis. 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. As your state trade association, the Minnesota Credit Union Network works to ensure the success, growth and vitality of our member credit unions by creating a positive public environment through leadership, political advocacy, education, awareness and regulatory assistance.
We value our members’ continued trust in us, and we appreciate the opportunity to be able to serve credit unions throughout the state. We are pleased to share our efforts on behalf of credits unions for the first half of 2021. Advocate
Collaborate
Accelerate
We look forward to continuing to serve our member credit unions for the second half of 2021! According to National Credit Union Administration’s (NCUA) Quarterly U.S. Map Review, Minnesota credit unions experienced solid performance along key indicators, including median annual asset growth, median annual share and deposit growth, membership growth and loan delinquency rate. Highlights include:
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