September 23, 2010By Eve Lazarus

Vancouver-based Central 1, the trade association for B.C. and Ontario credit unions, has launched a $2.5 million marketing campaign in B.C. aimed at youth.

The "Be Remarkable" campaign includes an online media buy, guerrilla marketing, and a tent pole Facebook application all created by Noise Digital of Vancouver.

Noise Digital came up with the idea to ask Facebook users to help distribute $100,000 to local charities on Central 1's behalf. Each time program participants tag themselves or their friends in a Facebook photo in their region, $1 goes to a charity in that region. So far, more than 63,000 tags have been generated and the page has more than 22,000 "likes."

Noise Digital also had two ATMs placed on university campuses that, instead of dispensing money, played video games. The idea, said Reed, is to show that banks are not the only option for students.

The online and guerrilla work is supported by television ads from Wasserman + Partners Advertising.

Martin Reed, director of marketing and creative services at Central 1, said the year-long campaign targets 18- to 29-year olds and aims to differentiate credit unions from banks through their values.

While that age demographic makes up 27% of B.C.'s population, it accounts for only 8% of credit union members, he said. "We need to attract some youth."

Reed said research shows the values credit unions want to project–honesty, integrity, trust and loyalty–match those of younger people, as does their interest in community and local initiatives.

"We found that there is a lack of awareness of what credit unions are about and how they can match up with what youth are trying to achieve," he said, adding that youth tend to bank where their parents bank.

“If we don’t focus on this age group, then our membership will slowly dwindle and we won’t have the critical mass to be able to continue doing business,” said Kelly McNeill-Sproxton, marketing manager for Vancity.

Central 1 Credit Union, the umbrella organization that represents credit unions in B.C., is leading the charge with a $2 million marketing campaign that will target 18-to-29-year-olds – who loosely fit into the generation Y demographic – across a number of advertising mediums.

In the next couple years, Central 1’s goal is to double its percentage of 18- to-29- year-old members.

According to Martin Reed, Central 1’s director of marketing and creative services, credit unions have traditionally targeted consumers above the age 30.

At that age, he said, consumers begin to more seriously consider financial products and services like mortgages, loans and RRSPs.

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Noise Digital to lead online strategy for credit union cooperative advertising program

Vancouver, BC; March 23, 2010 – Central 1 Credit Union, the central financial facility and trade association for the B.C. and Ontario credit union systems, has engaged Noise Digital as its digital agency of record for the Cooperative Advertising Program for the Credit Unions of BC.

The agency has been tasked with building awareness of the credit union brand amongst 18 to 29-year-olds in British Columbia. Noise won the account after a competitive bid process that began before Christmas.

“This is an exciting assignment for us because the Credit Unions of BC are interested in exploring how Digital can anchor their overall marketing direction, not just sit at the fringe,” says Mark Nishiguchi, Managing Partner, Noise Digital. “Given the target audience, it makes complete sense to focus the strategy online.”

While BC credit unions have a solid membership base of 1.7 million – more than 1 in 3 British Columbians – research has shown that many in the next generation of potential members are unaware of credit unions and how they differ from banks. The long-term goal of the program is to educate this target market on the benefits of credit unions and grow the membership base. Many in the target audience share the values of the credit union system: honesty, community, trust and loyalty.

“We were looking for a partner who had demonstrated success in delivering a digital strategy to this market,” says Martin Reed, Director, Marketing & Creative Services, Central 1. “What pleased us about Noise is that they really challenged our idea of what Digital could be and they are stretching us in a new direction.”

The agency’s first assignment will be a fall marketing campaign. While still in the early stages of development, the campaign will focus on a new community program and will likely include social media, OOH, and a variety of online and offline activation tactics. The campaign will include new TV spots created by Wasserman + Partners Advertising.