Truliant Marketing Campaign Targets Bank Mergers
Release date: 6/1/2017
Winston-Salem, N.C. (May 31, 2017) –Truliant Federal Credit Union (Truliant), one of the 100 largest credit unions in the country, wants its members to know that it has no plans to merge, unlike many community banks within its footprint. The credit union today announced the launch of a marketing campaign targeting residents in the Triad and Charlotte who may have been affected by a recent or upcoming community bank merger.
Since late last year, a number of community bank mergers have been announced that could potentially affect thousands of residents in the Triad and Charlotte. These mergers include:
• Newbridge Bank and Yadkin Bank were acquired by First National Bank
• Park Sterling Bank to merge with S.C.’s South State Corp.
• Capital Bank to be acquired by Tennessee’s First Horizon
• Community One Bank to be acquired by Capital Bank
• BNC Bancorp to be acquired by Pinnacle Financial Partners
The merger of two (or more) financial institutions can be unsettling for consumers, who face the uncertainty of new management, the potential for higher fees and the possibility of branches closing. Customers of these institutions are often left feeling disenfranchised, as a primary driver of using a community bank is a desire to be a part of a local institution rather than a larger regional or national bank.
Truliant’s new bank merger marketing campaign is designed to let area residents know that the credit union has no plans to merge, ever. It focuses on a key difference between Truliant and banks: Truliant is owned by its members, not shareholders, and that the credit union puts members before profits.
“At Truliant, everything we do is guided by our commitment to our members,” said Karen DeSalvo, chief marketing officer for Truliant. “Unlike publicly-owned banks, we’re not driven to increase shareholder value. Rather, our mission is to improve members’ lives by providing trusted financial guidance and many benefits banks simply cannot provide. This new marketing campaign is designed to let people know that there is another, stable alternative that focuses on always doing what’s best for each member.”
The new campaign also points out several points of Truliant’s key points of difference, including free interest checking, a variety of low-rate options on auto loans, home equity loans and lines of credit, mortgages and other loans. The credit union also provides No-Cost Credit Reviews for new and existing members with guidance on how they can save money and reach their goals. And, any consumer living in an area with a Truliant branch is eligible to join.
Truliant bank mergers marketing campaign launched in select publications over Memorial Day weekend. The campaign will incorporate a full marketing mix to communicate with potential members, including impactful print advertising, billboards, direct mail, social media, and a special merger page on Truliant’s web site.
“When a customer’s bank merges, it creates uncertainty for the customers,” DeSalvo continued. “Many consumers want to build their financial futures with a stable, secure institution where they know the people they are banking with, and what that institution stands for. At Truliant that is simple – we stand for our members. This campaign communicates to area residents that there is an alternative in the market that can ease the strain and uncertainty of bank mergers.”
For more information, please visit www.truliant.org.
About Truliant Federal Credit Union
Truliant Federal Credit Union is a mission-driven, not-for-profit financial institution that promises to always have its member-owners’ best interest at heart by improving their lives through providing financial guidance and affordable financial services. Truliant was chartered in 1952 and now serves more than 210,000 members and currently has 33 Member Financial Centers in North Carolina, South Carolina and Virginia. For more information on Truliant Federal Credit Union, visit www.truliant.org.
FOR MORE INFORMATION
Contact: Craig Fishel
(o) 336.293.2053 (c) 336.407.6748