There’s a new genre of dating disaster stories, and they center on you, banks.
Indeed, the Minnesota Credit Union Network (MnCUN) is luring state residents to leak their disaster banking stories — or their positive encounters with credit unions — with its new “Bankziety” campaign.
As part of the new bank bashing marketing effort, the Network that represents roughly 141 credit unions is soliciting Minnesotans to share their stories of banking anxiety, money stress or how credit unions have been the “bankziety” cure through Facebook in 200 words or less. The top four stories will be awarded $2,000. Stories can be submitted through May 7 on the MnCun Facebook page.
Part of the new campaign also includes launching SeeYouLaterBank.com, a website offering events, contests and promotions to offer consumers credit union membership tools and resources.
Beyond big bank smack-talking, the effort aims to point out how credit unions can be the Xanax for banking.
The website touts the Bankziety campaign’s reasons as “to provide ideas, insights and tools to help people learn more about how credit unions can alleviate the things that stress them out about their banks. Through our website, within media and social media, and in many of the credit unions across the state, you’ll feel the energy behind this movement.”
“Our credit unions have been telling us that they’re seeing more and more new customers coming through their doors because people are ready for something different,” said MnCUN President and Chief Executive Mark Cummins in a statement.
The new MnCUN marketing play underscores mummers of a rebirth of the Occupy Wall Street sentiments of dumping the big bad banks. Living in downtown Manhattan, I’ve seen clues of OWS coming back together as the weather warms up. Big bank bashing is far from over.
Jeffrey, great post. Thanks.
Essentially, I agree with your post. The key for me is what will be done with the money, which is your central question. As far as I know, no specific plan for becoming “best in class” has been drawn up by the Big Three.
I differ with you slightly one one point. By my read of your blog, you see the Big Three as the main providers of “investment in technology associated with automobiles [that] will have long-term effects to our society.” That doesn’t appear to me to be true anymore. “Foreign” car makers are continuing to invest mightily in auto technology in the U.S. Also, I am not convinced that letting the Big Three “die on the vine” means tech investment dies with it. Those resources (mainly people power) routed away from the Big Three could invest in auto technology, too — just outside the framework of the classic Big Three. People need to make a living, and they’ll do everything they can to make ends meet. That means “investment” in the auto industry broadly. Heck, we might even come out ahead because the status quo has been shaken up.
I am reading you correctly, Jeffrey?
Minnesota is home to US Bank, which is now offering checking deposit advance programs (the bank version of payday lending) at 120-300% interest. This should be easy pickings for Minnesota credit unions. What is US Bank thinking!
The credit union theme should be LOL @ big banks!
I applaud the credit unions for injecting humor into their sarcasm of terrible banking practices. Wait until US Bank gets an UDAAP audit from the regulators. The credit unions should provide all their Bankziety stories to the regulators as a community assist because customer comments are a part of the UDAAP audit. The OCC wrote me that they have now received over 14000 comments on “payday lending”. and Minnesota is one place where it is happening!