As financial turmoil rocks consumer confidence after a few recent high-profile bank failures, the California and Nevada Credit Union Leagues is focusing its strategic communication and community response to highlight the strength, stability, and commitment of the industry to serve its members.
Yesterday — with each credit union across California and Nevada and the entire industry in mind — the Leagues reinforced its message by distributing a relevant news release to media outlets across California and Nevada as local communities try to make sense of what’s happening and question who they can count on to keep their hard-earned dollars safe.
These timely releases sent to the local press yesterday morning emphasized why credit unions are trustworthy financial partners that are committed to serving members during good times and uncertain times, while also comparing some important financial industry figures between credit unions and banks.
The Leagues’ response this week also comes after its immediate statement on March 12 to media outlets across California and Nevada just two days after the collapse of Silicon Valley Bank. Since then, the Leagues know that local credit unions have been fielding offhand questions from members, and possibly news reporters as well.
“Going forward, we want to do everything we can to support your media relations efforts,” said Diana Dykstra, president and CEO of the Leagues. “In the coming weeks and months, we will be leveraging powerful facts, figures, and storylines as needed to shine a light on credit unions and point out who is local, who has the wherewithal to serve consumers during volatile periods, and who advocates for the best financial interests of individuals and households.”
Dykstra noted that this broader communications strategy to local news outlets is a marathon — not a sprint — as heightened concern and awareness in today’s financial services environment may continue. The Leagues will underscore credit unions’ safe-and-sound financial position, highlighting the industry’s historical and current strength and stability.
To double-down on this opportunity, the Leagues will also be reaching out to public relations and marketing departments at credit unions to foster an ongoing discussion through online meetings. The Leagues will also harness the power of its national partner (the Credit Union National Association) so team members can appropriately align the industry’s broader national plan with localized messaging. Please feel free to inform or collaborate with the Leagues on any news media inquiries going forward by emailing Joe Keller, vice president of communications and marketing for the Leagues.
“We are here to assist and support your efforts and ongoing response as your members and local news media ask questions during this unpredictable economic period,” Dykstra added. “Consumers should know there is a local credit union in every community across California and Nevada that can serve them during this volatile time. We look forward to helping spotlight your credit union’s member-owner philosophy and strong financial health during this unique period in history.”