Credit unions and building societies launch $2.5m ad campaign taking aim at banks

Abacus, the body that represents credit unions and building societies, has launched its first national campaign in ten years highlighting research that reveals homeowners with a mortgage from a credit union or building society are $35,000 better off over the life of the loan.

The $2.5m advertising campaign, which is being supported by online ads and a new website, takes aim at the major banks and talks about the advantages of credit unions and building societies, such as their lower interest rates.

The body points to research from InfoChoice and new ABS figures which shows that today nearly one in ten homeowners are using a credit union or building society for their home loan.

Abacus CEO, Louise Petschler, said: “While a lot of attention during the GFC was on government efforts around the world to stablise large banks, credit unions and building societies remained strong because they had a secure member base and their structure is such that they lend from their retail deposits rather than accessing toxic overseas wholesale markets.”

The campaign was created by ad agency EMC and media by Mitchell & Partners.


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