“Earned” Media Benefits Credit Union Awareness

Henry Kertman
April 1, 2009 | COMMENTS

With news media interest in economic issues at its highest level, this is a great time for credit unions to direct media focus to unique programs that help consumers stay in their homes, regain financial strength, and build long-term stability.

New Year, New Goal

In 2008, news media from large and small markets throughout California and Nevada reported on credit unions' overall soundness—despite today's difficult economic climate— in several high-profile articles. News coverage of credit unions appeared in the San Diego Union-Tribune, Los Angeles Times, Nevada Business Journal, Contra Costa Times, and several community newspapers as well as on local radio and television. Many credit union leaders were interviewed for these news stories, and growing numbers of credit unions are now receiving inquiries from local media for the first time.

This year, our goal is to help credit unions become more “media savvy” and better prepared to respond with confidence when a reporter calls. Key to this effort is the need for credit unions to participate in media training provided by the League, and to develop and maintain strong relationships with media contacts in their communities. These steps will help credit unions generate increased news coverage that is accurate, balanced, and clearly demonstrates credit unions' unique benefits to consumers.

Earn It!

The term “earned” media—as opposed to paid advertising—describes news and editorial coverage that results from building and nurturing media contacts, and from pitching and placing stories in newspapers, radio, television, and in online communications. This approach to generating positive news coverage of credit unions not only promotes awareness and education among all consumers, but also benefits credit union advocacy efforts by providing strong, consistent messaging that is highly visible to elected officials and the constituents they represent.

While it may be challenging to get the attention of newspaper and television reporters in larger markets, credit unions have been successful in gaining positive news coverage from local and community newspapers, as well as local radio programs. The value of placing credit union stories in local media outlets shouldn't be underestimated.

Legislators and their staff often read or listen to local news from their home districts before they pay attention to statewide or national media, and credit unions can take advantage of reaching these important decision-makers through a strong, local media effort.

Earned media can help educate newly-elected legislators about the unique aspects of credit unions that differentiate us from other financial institutions. That is an especially critical need as state legislators and Congress begin debate on scores of new legislation ranging from mortgage regulation to the Community Reinvestment Act (CRA) during the new session.

The Skills You Need

There is no better time than now for credit unions to improve their media relations skills and strengthen relationships with reporters and editors, and the League is prepared to help. We have already begun to provide media training for credit union senior staff, marketing professionals, and other spokespersons, and more training will be scheduled to ensure that credit unions make full use of media opportunities.

The League's public affairs staff can help credit unions identify key contacts in their service areas. Positive credit union messaging in news media—together with targeted advertisements planned for capital publications in Washington, D.C., Sacramento, and Carson City— are tactics that help to ensure key legislators and their staffs are fully exposed to credit union messages and stand more solidly behind credit union causes.

Henry Kertman is vice president of public affairs for the California and Nevada Credit Union Leagues. This article was reprinted with permission from Credit Union Digest, the publication of the California and Nevada Credit Union Leagues.