NAFCU Digital Ad Campaign Seeks to ‘Stop Big Bank Bullies’

The National Association of Federally-Insured Credit Unions launched a “Stop Big Bank Bullies” digital advertising campaign Monday in an effort to fire back at banking trade groups that are arguing that credit unions no longer deserve their tax exemption.

“When they go after us, we’re going to go after them,” Greg Mesack, NAFCU’s senior vice president of government affairs said in an interview.

Credit union and banking trade groups have been battling for years, with the banking groups contending that the tax exemption gives credit unions an unfair competitive advantage.

Most recently, the American Bankers Association, the Independent Community Bankers of America and the National Community Reinvestment Coalition sent a letter to key members of Congress, saying that many credit unions no longer serve members of modest means.

In response, NAFCU is purchasing digital and targeted advertising, as well as circulating tip sheets making the argument that bankers are bullying credit unions and Congress. The trade group has established a website at stopbigbankbullies.com.

“Big Bank Bullies have attacked consumer-friendly credit unions for decades, and they’re at it again,” the website’s home page reads. “With an army of lobbyists, they think they can bully credit unions and Congress. We’re exposing the big banks so they can be held accountable.”

“We’re calling them out on who they really are,” Mesack said.

The website provides several damning arguments against banks, including stating that big banks have been fined a “staggering” $243 billion in 15 years, and that the top three banks earn more individually in one year than the entire credit union industry.

The website features a man—presumably a banker—with a large amount of cash in his hand.

The website also recommends that Congress re-adopt the Depression-era Glass-Steagall Act—a law that separated investment banking from retail banking.

“It’s time for banks to be held accountable; their bad behavior has been overlooked for far too long,” NAFCU President/CEO B. Dan Berger said. “Consumers have the power to stop these bullies by leaving their bank and joining a credit union. “It’s time to stand up to these bullies; enough is enough,” Berger said.

Related:

NAFCU’s Stop Big Bank Bullies website

Community Coalition Joins Banks in Blasting Credit Unions

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