Bank On MOre Releases 2013 Report
The Statewide Consumer Awareness Campaign, Bank On MOre, ran March through October and aimed to educate nonmembers on the benefits of credit union membership. This was the first statewide consumer awareness campaign in the history of the Missouri Credit Union Association (MCUA).
To evaluate how the campaign performed, MCUA created an end-of-year report for member credit unions.
"Preliminary testing of the Bank On MOre campaign shows that we successfully moved the needle on consumer awareness among our target markets," says Don Cohenour, MCUA president/CEO. "This is an accomplishment I hope our member credit unions are proud of. We're on the right track toward educating consumers and showing them they have a wonderful financial resource in credit unions."
According to Callahan and Associates, growth in loans and membership at credit unions of Missouri were above the national averages in the third quarter 2013.
- Credit unions that participated in Bank On MOre showed higher member and loan growth than non-participating credit unions.
- Non-affiliate credit unions had significantly lower loan and members growth compared to MCUA member credit unions.
- Key attitudinal measures indicate that the campaign target audiences (young adults, African Americans and women) show a clear increase in favorability and familiarity toward credit unions as measured from 2012 to 2013.
- Awareness of information about credit unions has increased among target audiences.
- 66% of nonmembers say what they recall [about credit unions] makes them likely to consider joining a credit union.