Cause Marketing is Focus of New Marketing & BD Council White Paper

CUNA Councils
July 8, 2010 | COMMENTS

Both credit unions and worthy nonprofits benefit when people learn more about the causes supported by credit unions, according to a new CUNA Marketing and Business Development Council white paper.

“Public Relations and Cause Marketing” is based on information gathered from marketing and public relations professionals at six credit union and three credit union leagues as well as Children's Miracle Network.

The white paper explores how credit unions can use the “soft” approach of public relations to overcome the barriers created by “hard” marketing and advertising, which are often greeted with skepticism by cynical consumers.

“Consumers have so many choices about who they're going to do business with,” says Patti Barrow, Vice President of Marketing for $5.3 billion Suncoast Schools Federal Credit Union, Tampa, Fla. “We believe that people prefer to do business with organizations that are good community citizens and have values that are aligned with their values. It really does round out how you conduct yourself and how you go about getting more business and how you interact with the community.”

Four cause marketing examples are examined in the paper:

• Children's Miracle Network and Credit Unions for Kids, including the regional efforts of credit unions in Oregon and southwest Washington;
• Suncoast Schools Federal Credit Union's Suncoast for Kids Foundation, which donates a portion of interchange revenues from signature-based debit card transactions to support causes that benefit children;
• Missouri credit unions' support for the Home For Our Troops project; and
• The “Big Give” project created by First American Credit Union, Beloit, Wis., as part of its leadership training program.

CUNA Council members are entitled to complimentary copies of these and more than 200 white papers; non-members may purchase the white papers for a price of $50 per copy.

The paper is available online in the white paper section of each council site – select the “Marketing & BizDev” tab.