Media Relations Dialogue Brings Together Nearly 70 Marketers

Mentions of banks, safety, soundness, deposits and related terms in the U.S. news media are on a trajectory to spike in 2023 compared to 2022 according to an online presentation and discussion taking place this week for marketers and other leaders who manage public relations and news media strategy for credit unions across California and Nevada.

The Credit Unions: Safe & Sound dialogue — which attracted nearly 70 participants from across both states — focused on how the California and Nevada Credit Union Leagues can begin a long-term approach to helping credit union marketers and public relations specialists stay prepared with “safe and sound” facts and messaging for local news reporters, writers, broadcasters, or social media influencers who may have inquiries amid continued banking concerns.

The group discussed:

• How credit union marketers feel the Leagues can help in news media awareness efforts with resources/information and assistance.
• Data trends on banking-crisis chatter “in the news.”
• What credit union marketers are experiencing when it comes to local news chatter regarding heightened financial awareness.
• The Leagues’ response in late March 2023 with a news release to media outlets across California and Nevada.

In focus was the fact that the keyword “banks” — combined in separate media analytics platform searches with “safe,” “crisis” and “deposits” — is on a trajectory to skyrocket in online and hardcopy/print news publications across the nation:

• “Banks” and “safe” — potentially increasing 20 percent to 275,000 mentions in U.S. online and print news media (up from 230,000 mentions in 2022).
• “Banks” and “crisis” — potentially increasing 47 percent to 490,000 mentions in U.S. online and print news media (up from 334,000 mentions in 2022).
• “Banks” and “deposits” — potentially increasing 170 percent to 380,000 mentions in U.S. online and print news media (up from 141,000 mentions in 2022).

A recent J.D. Powers survey from late April shows that 17 percent of U.S. consumers are “very likely” to switch their bank and 23 percent “very likely” to shift their deposits from their current bank to another financial institution.

As banking system anxiety remains top of mind in the news media, the Leagues want to help credit unions across both states stay prepared throughout 2023 and 2024. There are bound to be long-term challenges and opportunities, which means credit unions and the Leagues can collaborate to stay ahead of the news cycle.

“Combined with what’s happening in the banking marketplace, the forecasted trajectory of news media mentions of the current mini-banking crisis in 2023 is a sandbox that we can play in,” said Matt Wrye, senior communications manager for the Leagues. “This is an area we feel credit unions across California and Nevada can engage in at the local level for many months — or years — to come. Credit unions remain safe and sound.”