Wednesday, November 22, 2023

SECU - Seducing Realtors With A Piece Of the Pie? Not Likely....

😎 [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!