😎 [Here we go again!] From a local realtor: "State Employees' Credit Union stopped by and left information on their products and an apple pie – come get you some!!"
We haven't had much time to talk about that wonderfully wasteful, half-baked SECU "Media and Rebranding campaign"! Remember that famous "Superbowl Ad" which vanished like an amateur magic trick back in February - first you'll see it, then you won't!? Well, the "Ad campaign" is still around bleeding member dollars, although with - admittedly! - very measurable, tangible results, at least in the rebranding effort! Any way you slice it, SECU has definitely been "rebranded" in the minds of many North Carolinians over the last two years. Many no longer think of SECU as a "Mom and apple pie" institution.
"Advertising expenses" over the last 4 months were $2,144,000 or @$500,000 a month - that's a lot of apple pies!
Other folks would like a piece of that pie, too! Employees, according to the comments, might prefer to see those millions go toward the recently eliminated Xmas bonus or SECU members might like to see a big boost in the MMSA rate from 1.1% to 1.2%!
😎 What do realtors (and SECU members!) want most from the Credit Union? From my experience, a fair rate and a really quick "Yes!" approval ... not another "pie-in-the sky" - "industry standard" - mediocre, marketing deep disher .
... but gotta admit, Apple Pie would be a good core value for SECU!
Gratitude
ReplyDeleteHmmm? I thought only Commercial Lenders played that game?
ReplyDeleteHmmm? I thought only Commercial Lenders played that game!
ReplyDeleteSECU is becoming a commercial lender when it comes to mortgages. Decisions will be primarily made by an automated underwriting system for Freddie Mac and eventually Fannie Mae. SECU has lost sight of who they stood for in the past.
DeleteHumble pie should be on a lot of peoples Thanksgiving menu this year.
ReplyDeleteMrs. Brady just doesn't get it I guess? All those years of members first, now look what we've become. Spending over 500k on advertising for what? Hayes should come back, he gave us a Christmas bonus and more flex time. Hehe
ReplyDeleteMaybe we can bring in a 3rd party team to help distribute all these apple pies
ReplyDeletedon't give em any ideas ....
DeleteOr, Marketing can start WeAreApplePie.com.
DeleteWait, I meant they could pay APCO to do it.
Now that's a true marketer! Ought to claim that URL for SECU!
Delete'Revenge is a dish best served cold' - vote those other 4 board members out and then fire this CEO!
ReplyDeleteThe trust is gone and it ain't coming back under these folks... if ever!
Wonder what those folks that will be voting on H. 410 are getting?
ReplyDeleteI'm shocked! They didnt leave any ice cream to go with it? Times must be tight?
ReplyDeleteAre you messing with us, Jim? Did we really take a pie to a realtor?
ReplyDeleteHow is advertising expense that high? I haven't seen any commercials or ads? What is the ROI on the marketing dept thus far?
ReplyDeleteThe salaries of the Marketing Department + all thr firms they pay to make new websites and staged videos.
Deleteand all those apple pies!!! wonder what the budget was for apple pies?
DeleteThe salaries of the marketing department would not be included as those are labor costs. Therefore that number is literally what was spent on actual “marketing.”
Delete