FOR IMMEDIATE RELEASE
Tech CU Launches New ‘Bank Happily Ever After’ Advertising Campaign
Encourages consumers to reconsider their “big bank” relationship and choose a better alternative.
San Jose, Calif. (October 1, 2015) —Tech CU (Technology Credit Union) has launched a new advertising campaign entitled "Bank Happily Ever After.” It encourages consumers to question their current “big bank” relationship and consider a better option — a smaller, local financial institution that has their best interests at heart. The campaign’s platform levers on the trend towards disruption in financial services and highlights the fact that Tech CU provides the same 24/7 access and convenience consumers expect of a big bank, while still being small enough to offer exceptional, personal service.
“People are frustrated,” said Tech CU’s SVP of Marketing, Kate Duggan, “with high loan rates and fees, and the lack of personal service they often get with big banks. They’re tired of being treated like a number by companies that don’t necessarily have their best interests at heart. It may sound cliché, but at Tech CU, we believe you should trust the company you bank with and that your experience should be both pleasant and satisfying.”
Duggan said the credit union’s approach to its members is that of a friendly, trusted advisor — a true partner whose mission is the member’s financial success. This begins with listening and making people feel comfortable when talking about their finances. Tech CU offers expertise, experience and free financial education paired with a robust suite of products and services for all stages of life — whether someone is buying a home, saving for college, starting a business or planning for retirement.
The credit union’s multi-channel campaign, designed in partnership with agency of record Michael Patrick Partners, spans film, digital, outdoor, transit and radio throughout the San Francisco Bay Area. It focuses on the following themes:
- Many consumers want to switch banks; they just need some encouragement. Many people perceive that switching financial institutions is a stressful, high-effort endeavor. They need to first be made aware of a better alternative, and then shown that it’s easy to change.
- Though consumers generally don’t trust big banks (a 2013 Gallup poll found that only 10 percent of Americans had a "great deal" of confidence in banks), most stay because of the convenience and digital payment services. People may not know that Tech CU offers great mobile and online banking, as well as access to over 65,000 fee-free ATMs worldwide — more than Chase, Bank of America and Wells Fargo combined.
- Every generation wants personalized banking — Boomers, GenXers and Millennials alike. When it comes to a financial institution, the key issues for consumers are: having someone look after their best interests and helping them make informed financial decisions; providing the highest quality service; offering convenient access to products and services.
- Evidence of consumers’ desire for something different can be seen in the growing number of successful fintech startups that are capitalizing on people’s frustration with the traditional banking experience. Like fintechs, Tech CU offers a better way of banking — the difference is that Tech CU is federally regulated and accounts are fully insured.
- Within 10 years, Millennials will be the primary consumers of financial services, and they’re looking for a better way to bank. The Millennial Disruption Index from Scratch/Viacom Media Networks found that banking is at a higher risk of disruption from Millennials than tech, retail and household goods. Fifty-three percent of those polled said their current bank offers nothing different from other financial institutions — with all four of the leading banks among the 10 least-loved brands by Millennials.
To view the campaign visuals, go to Tech CU’s web site.
ABOUT TECHNOLOGY CREDIT UNION
Tech CU is a $2.0 billion credit union serving more than 70,000 members throughout the San Francisco Bay Area— including employees of such companies as Tesla, eBay, Applied Materials, Nvidia and Facebook. A federally insured, not-for-profit organization, we put the financial interests of our members ahead of shareholder profit by helping members achieve their financial goals on their terms and sharing the benefits of our growth. Founded in 1960 by a group of forward-thinking employees at Fairchild Semiconductor, today we continue to be an industry leader, providing innovative financial products for all stages of our members’ lives, including personal banking, wealth management, private banking, commercial lending and business banking. Tech CU consistently achieves a customer satisfaction rating above 95 percent and maintains a 5-star rating from Bauer Financial, the nation’s largest independent rating service for financial institutions. And, with mobile and online banking, 65,000+ fee-free ATMs worldwide (more than Chase, Bank of America and Wells Fargo combined) and convenient branch access to our financial experts, Tech CU makes 24/7 banking easy and empowering.
© 2015 Technology Credit Union. All rights reserved. Federally insured by NCUA. Equal housing lender.