Westminster Savings Credit Union

Westminster Savings Credit Union

October 16, 2006 10:00 ET

Westminster Savings Launches Canada's Highest 18-Month Interest Rate Term Deposit Account

NEW WESTMINSTER, BRITISH COLUMBIA--(CCNMatthews - Oct. 16, 2006) - "Grow Something Big" is the Westminster Savings Credit Unions' (WSCU) new third wave communications slogan for a new breed of flexible and fixed term deposit plans, including a special 4.2% interest rate on an 18-month non-redeemable term deposit product, launched today.

In 2005, WSCU held $622 million in term deposits, which came to 50% of the money members had on deposit. Members placed an average of $15,000 into term deposit plans for long-term savings, retirement and large purchase decisions, adopted mostly by the baby boomer generation.

This week, Westminster Savings Credit Union kicks-off a new range of competitive term deposit products, plus a communications campaign targeted at the boomerang generation, where twenty-and-thirty somethings need a viable and fast maturing solution to grow their savings into an investment for the future.

"The guerrilla marketing and public relations events taking place this month showcase WSCU as a unique financial services provider," said Wayne McKay, Vice-President, Marketing at Westminster Savings Credit Union. "To attract and retain today's demanding customer, we are combining our reputation as the number one community credit union with a range of flexible and highly competitive interest rate term deposit products. For the first time, our campaign communications will reach out to a younger demographic that need to save and grow their investments."

The "Grow Something Big" communications campaign, developed by third wave ad agency Spring Advertising, features a WSCU investor being dwarfed by his oversized wallet after a term deposit has matured. The campaign, launching on October 16 is comprised of:

- BROADCAST: Radio advertising (CHQM, CJJR, Jack FM, CKNW, CKWX, CFMI)

- ONLINE: Micro site and web movies at www.growsomethingbig.com

- BILLBOARDS: Billboards in Coquitlam, New Westminster and Surrey in high traffic areas

- GUERILLA STREET LEVEL MARKETING: Popular TheatreSports actor, Gerry McAteer will be appearing for one hour shows in undetermined street locations, with the advertising campaigns' giant wallet

- NEWSPAPERS: Uniquely positioned print advertisements across Maple Ridge News, Langley Times, Peace Arch News, The Record, Surrey Now and Coquitlam Now

- BRANCH: Teller Talkers, homepage presence www.wscu.com, Leaflets and branch posters

Rob Schlyecher, Creative Director of Spring Advertising commented, "A high percentage rate is certainly an attraction in today's marketplace, but drawing attention to it takes ingenuity. So along came the giant wallet. It grows when interacted with on a micro-site, it gets to squash some lucky owner out in public, and it unbalances park benches and herniates radio announcers. In short, it makes itself, and its term deposits, something to talk about."

About Westminster Savings Credit Union

As one of Canada's largest credit unions, Westminster Savings Credit Union is dedicated to providing full financial services to the residents of Lower Mainland, B.C. Westminster Savings Credit Union has $1.4 billion in assets, more than 350 employees, 51,000 members and 10 retail branches in New Westminster, Coquitlam, Port Coquitlam, Maple Ridge, Cloverdale, Surrey, Langley and White Rock. A state-of-the-art Member Service Centre additionally offers telephone and internet service before and after business hours, and can be reached at 604-517-0100 or toll-free at 1-877-506-0100.

The credit union also operates two subsidiaries, WS Leasing Ltd. and Westminster Savings Financial Planning Ltd., and provides a full service commercial services group offering deposit products to business customers. The Westminster Savings Foundation is the second largest credit union Foundation in the country. We are proud that, since it began in 1992, the Foundation has grown to over $5 million. For more information about WSCU, please visit www.wscu.com.

About Spring Advertising

Spring is the third wave advertising agency. Traditional advertising; print, radio and TV are second wave advertising vehicles, print having been the first wave. Spring develops all of its campaigns with a media agnostic philosophy that integrates traditional media with interactive and non-traditional brand experiences from the first moment of strategy to the last marketing message. It's a unique approach that other agencies have yet to adopt. It is the third wave.

Contact Information

  • Westminster Savings Credit Union - Media Contact
    Steve Mosey
    Communications Officer, Marketing
    (604) 528-3836
    Email: smosey@wscu.com

    OR

    Chocolate Communications
    Caroline Stokes
    (604) 739-9580 or (604) 649-9601
    Email: carolines@chocolatecom.ca