Newly formed group launches creative campaign to promote co-operative
TORONTO, Jan. 20, 2014 /CNW/ - Want to achieve financial freedom and
help your community while banking? That's the idea behind the
co-operative banking movement the Credit Unions of Ontario would like
Ontarians to join. Their creative campaign encourages Ontarians to
think about how they bank and consider credit unions as an economically
viable and socially meaningful alternative to traditional banking
Credit unions from across Ontario have come together as the Credit
Unions of Ontario to encourage Ontarians to join the co-operative
banking movement, introduced through an inaugural creative campaign.
The campaign, which includes ads on television and the web, as well as
a refreshed social media presence, is designed to change the
perceptions and attitudes Ontarians have towards credit unions, while
educating them about the many benefits of this alternative form of
"Credit unions have always helped our Members achieve financial freedom
by putting Members' best interests front and centre," said Stephen
Bolton, President and CEO of Libro Credit Union, speaking on behalf of
the Credit Unions of Ontario. "The Credit Unions of Ontario are excited
to show Ontarians just what a great banking alternative we are. After
all, we do great things to help our Members and the communities where
we all live."
Co-operative banking offers Members - who are also credit union owners -
the most competitive tools needed to help them successfully manage
their finances, including:
Financial products (such as bank accounts, mortgages and loans);
Services (including financial advice, wealth management and
Innovative solutions (such as mobile banking and mobile cheque deposit);
Security (the comprehensive deposit insurance you would expect, through
the Deposit Insurance Corporation of Ontario - DICO).
These, however, are provided with a powerful difference - profits are
returned to Members in the form of competitive rates and better
service. They are also put back into the communities where credit
unions operate and where Members live.
In addition, co-operative banking allows Members to benefit from:
Financial solutions that are right for them (rather than those someone
is trying to sell them);
Expert and objective financial advice; and
"We answer to Main Street, not Wall Street. While we do make profits, we
pride ourselves in putting them back into the communities we serve to
do good things for everyone," said Bolton. "It's at the core of what we
do - banking with a higher purpose."
Awareness of credit unions in Ontario is low. In fact, a recent survey
commissioned by the Credit Unions of Ontario revealed that only one in
five Ontarians (19 per cent) named a credit union when asked about
financial institutions they are aware of. When probed, only one third
(36 per cent) of respondents understand the types of services credit
unions offer, how they function and how they differ from other
"Credit unions have taken home the Ipsos Best Banking Award for overall
Customer Service Excellence for nine consecutive years, yet our survey
shows that we are still the best-kept financial services secret in
Ontario," said Bolton. "We intend to change that by showing Ontarians
that we represent a great banking choice - one that empowers them to
make a difference in their lives and within their community."
For more information about the Credit Unions of Ontario and co-operative
banking, please visit cooperativebanking.ca.
About Credit Unions of Ontario
The Credit Unions of Ontario provide a full range of competitive
financial products and services to 1.4 million Members, both
individuals and organizations, across Ontario. Their mission is to
raise awareness of credit unions among Ontarians and inspire them to
join the co-operative banking movement, allowing them to make a real
difference to their financial lives and the communities in which they
live. For more information, and for a list of participating/founding
credit unions, please visit www.cooperativebanking.ca.
From December 5 to December 18, 2013, an online survey was conducted via
Research Now online panel among 1,103 Ontarians between the ages of 32
and 47. The sample size provides results that are accurate within +/-
3%, 19 times out of 20.
Launched in 1987, the Ipsos (formerly Synovate) Customer Service Index
(CSI) quarterly survey generates the winners of the annual Best Banking
Awards. The Ipsos 2013 Best Banking Awards are based on quarterly
Customer Service Index (CSI) survey results. Sample size for the total
2013 CSI program year ended August 2013 was 45,875 completed surveys
yielding 69,268 financial institution ratings.
SOURCE: Credit Unions of Ontario
For further information:
Natasha Dos Santos
416.640.5525 ext. 248