Agency: Palmer Jarvis Communications Author: Kerrie Couttie

Richmond Savings Image Campaign

EXECUTIVE SUMMARY

Money is serious business. This case shows how humour can take deadly aim with
spectacular results.

Richmond Savings is Canada’s third largest credit union, and in 1991 the company developed an aggressive 10 year plan. It called for the membership and asset base to more than double by 2001; and for the company’s unaided awareness to reach 25% vs. the existing benchmark of 5%. This would be easier said than done. Research showed that:

  • Credit unions were generally seen as inferior to banks.
  • Credit union members tended to be extremely loyal to their institutions.
  • Whether at banks or credit unions, customers were extremely reluctant to change their arrangements, even if service was highly unsatisfactory.