Special Funds Report: 2020 Advocacy and Awareness Efforts

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:

• Minnesota support for the 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,  polling and radio ads.
• Sponsorship of the Wrong About Everything podcast. Wrong About Everything is a fun, irreverent and bipartisan look at Minnesota and national politics. Two Liberals and Two Conservatives debate the issues of the day with humor and vigor. The podcast is listened to by legislators and public opinion leaders in Minnesota. 
• Grassroots materials and collateral to demonstrate the CU Difference to lawmakers, including the new Working for Minnesota website and the GREAT program.
• NASCUS Membership to enhance efforts to strengthen the state charter.
• Participation in the National Conference of State Legislatures Legislative Summit.

 
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:

• Managed the Credit Union News Channel to share credit union news more efficiently. 73 stories have been published January – June 2021 and MnCUN influenced 37 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.    

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.