Financial Resources Federal Credit Union
By Joyce Moed, Reporter

A mobile billboard appearing on a truck driven on major roads throughout New Jersey's Hunterdon, Somerset and Middlesex counties, as well as parked at major shopping centers, carries the message of "Start banking where they're not in it for the money."

The mobile billboard program started appearing on roads on Feb. 11, and is planned to run through February of 2009. The two branches the CU is promoting through this campaign are its Eastern Avenue, Somerset branch, which was relocated in May of 2006 from an adjacent community in New Brunswick, and its Flemington branch, which is a new location opened in May of 2007.

"Financial Resources Federal Credit Union is a multiple common bond credit union serving employees of many Johnson and Johnson operating companies, over 125 other select employer groups and associations, and two underserved market areas in its field of membership," said Daniel Gontcharenko, director of marketing for the 23,000-member credit union. "These two branches serve our members commuting in and around these two different underserved market areas and select employer groups in our field of membership.  The advertising message of ‘Start banking where they're not in it for the money' is designed to promote the distinction between our credit union and banks.

According to Gontcharenko, the annual contract - including production - is costing the credit union about $25,000.

Financial results aren't being measured, Gontcharenko noted.

"The sole purpose of the mobile billboards is to build awareness of our credit union in the communities targeted by this medium," he said. "And to promote the distinction between our credit union and banks. No ROI goals are being directly attributed to the advertising medium, which is using a positioning message similar to other advertising mediums–stationary outdoor, print and advertising in supermarkets and a major health club facility partnership arrangement–in our markets."

Gontcharenko said that after doing research, the $300-million credit union decided mobile billboards were perhaps the most cost-effective way to market to these communities.
"Mobile billboards directly target our advertising message in high traffic areas, specific neighborhoods, and at special events," he said. "Although we also use stationary billboards around the targeted market, mobile billboards are very cost-effective when compared to other outdoor media."

Gontcharenko said when typing in the words "mobile billboard statistics" on an Internet search engine, he learned a lot about this advertising medium from several sources. For example, he said, he read that "mobile billboard displays boost name recognition 15 times greater than any other form of advertising."

He also read that one mobile truck can make more than 1.5 million impressions per month when targeting a designated area of more than 5 million people. Other research showed that mobile billboard generates more than twice the attention of a static billboard, while building brand recognition, Gontcharenko said.

Outdoor media–such as mobile billboards–reaches those not exposed to newspaper and local television, he said, while also capturing heavy commuters' attention, he also read.
In all, Financial Resources FCU has three public access branches and eight in-company branches in New Jersey, two in-company branches in Pennsylvania, and one in-company branch in each of the following states: Massachusetts, Ohio and New Mexico.

As far as the CU's other branches, Gontcharenko said they are located in Johnson and Johnson company locations, "however, many of their New Jersey employees commute in and around the communities targeted by this advertising medium."

"We also promote our credit union in these company locations by utilizing event marketing, company e-mail blasts, broadcast media, and educational seminar programs," he said.

www.myfinancialresources.org