First Lincoln Federal Credit Union

FLFCU would like to launch an advertising campaign to gain new members through their checking account

Challenge:

Consumer perception & misunderstanding of credit union benefits over banks is affecting FLFCU growth in memberships

 Background : Goal Purpose : Objective Strategic Analysis & Planning:

our ideas

Creative Strategy & Reasoning

Agenda

Execution Conclusion

Background

Credit Union, Lincoln NE Chartered in 1956 Member operated, member driven

FLFCU Goal: Continue to help you meet your own personal financial goals with a progressive array of products and services while maintaining the highest levels of safety and soundness-all backed by strong reserves and the National Credit Union Administration (NCUA).

Once a member, Always a member

FLFCU would like to launch a an advertising campaign to gain new members through their checking account

Purpose

Our purpose is to create market recognition in order to gain new members , open new checking accounts to build growth to the FLFCU community. We want to inform potential members by highlighting the financial benefits FLFCU has to offer.

Target Audience

Young adults and families new

to the area or just beginning to start a life together. These people are in search mode for the best financial institution available. They need financial security not only for themselves but for their families and for the future of their families.

 Interviews

What was important in a Financial Relationship was

Commitment Trust and Honesty Easy to use and access

Findings

Reasons people would change banks 1. Relocate 2. Lack of honesty 3. Rates began to sky rocket

Competitive Analysis

Strengths Lincoln Federal First Credit Union is a locally operated financial institution, owned and ran by its members. They offer standard checking/saving accounts, mortgages and loans with better interest rates and lower fees. Besides being a financial institution, they have a high level of customer service and maintain close relationships with all other members WeaknessesLFFC lacks in publicity. Heavy competition with banks exist and LFFC struggles to gain support within the community because of many peoples prior questionable knowledge about what a credit union is and what it has to offer that a bank does not.

Membership Driven vs. Profit Driven

-Heavy competition with national and local banks within the Lincoln metro area

Current Market

Wells Fargo Bank of the West US Bank Union Bank Pinnacle Bank Cornhusker Bank

 2 Strategic Planning ideas

rebranding

promotion
Creative yet informative

Big Idea

Gain emotional appeal

Familiarize with the community

Innovative and affective

Big Idea

your anti-big bank banking solution.

Lincoln Community Credit Union

new name

Lets grow home.

main tagline

Rebranding

Family friendly, uplifting Less intimidating, community and locally based Emphasize community growth

 Tagline

Lets grow home

Headlines Capitol support Banking on community Prosperity Community Profits

Promotion

Themes of

Investing for a better tomorrow Secure your families future, today

Body Copy: Start a free checking account today through Lincoln Community Credit Union. A non-profit financial cooperate that offers security, great rates, free checking and promotes community growth. Have a say in where your money should be. (+50 dollar incentive)

 Referral Program
Print Advertising Newspaper ad- classified section

Increase in reach, awareness

Promotion

Magazine, billboard advertising Non traditional- informative brochure

Big Idea: Current Belief: People aren't sure what People dont trust big Credit Unions are and banks with their money, well help them who can join, overcome their -general uncertainty uncertainty hesitation

Desired Belief LCCU is a better place for my money

Conclusion

Current Action: Searching for banks, making changes and seeking opportunistic affiliations

Support: LCCU supports local growth/community development, member oriented

Desired Action: For consumers to open checking accounts, spread word to friends about the convince and advantages of LCCU