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.
The Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information.