Coast Capital Savings Credit Union

Coast Capital Savings Credit Union

December 09, 2009 09:00 ET

Coast Capital Ads Slay Goliath Big Banks in Battle for CMA Gold

SURREY, BRITISH COLUMBIA--(Marketwire - Dec. 8, 2009) - The 2009 Canadian Marketing Association Awards show crowned one huge winner in the financial services category and it was a not-so-huge financial institution––Coast Capital Savings.

The B.C.-based credit union beat out the big-budget favourites to win the CMA's top financial marketer in Canada award, taking home gold for Best in Financial as well as for Financial Advertising Campaign.

"Coast Capital's double win at the nation's most prestigious marketing awards event certainly proves that a great product together with a great idea can break through the clutter, even with a modest media buy," said Lawrie Ferguson, Coast Capital's chief marketing and public relations officer. "We're extremely proud of the work we've done over the years to develop a strong and distinct brand in the financial services space, but to win against major national brands with budgets ten times what we have is quite a thrill."

The CMA awards recognize the very best creative and ad campaigns for 2008. Coast Capital's award-winning work was created by Vancouver-based Rethink Communications. The No Stress campaign includes a TV spot titled "Hair" for The Free Chequing, Free Debit and More Account - Canada's first free chequing account from a full-service financial institution. In the spot, a balding man blames the stress of big bank fees for his diminishing mane. He enters a Coast Capital branch, where he discovers multiple men with long, luxurious hair, supposedly due to free chequing. The campaign contributed to more than 20,000 new account openings in 2008 and helped push Coast Capital's total brand awareness to a record 97 per cent.

The CMA also recognized Coast Capital's b2b campaign titled "Ridiculous Fees" for The One Small Fee The Rest is Free Account. It lampoons all the petty fees big banks charge small businesses. Media included small space newspaper, online ads, radio, direct mail and a website. The small business campaign delivered impressive results, with more than 8,500 new small business accounts openings, exceeding target by 9 percent.

"What makes the CMA Awards unique is that they're judged by clients and creative people," said Rethink's creative director Chris Staples. "The judges look for outstanding creative concepts combined with strong strategic results."

The No Stress campaign was earlier honoured with a Marketing Magazine Gold Award for a 30 second television single and was a finalist at the 2008 Cannes Festival.

Coast Capital Savings is Canada's second largest credit union with total assets under administration of $12.3 billion, more than 400,000 members and 50 branches in the Metro Vancouver, Fraser Valley and Vancouver Island regions of British Columbia. To learn more, visit www.coastcapitalsavings.com.

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