NEW ORLEANS – Credit Human, a member-owned, not-for-profit federal credit union, has announced the launch of its “Straight Talk” campaign in New Orleans, calling attention to the impact of big-bank consolidation on local households and the importance of keeping deposits circulating close to home.
Designed specifically for the New Orleans market, the Credit Human campaign highlights differences between member-owned credit unions and large for-profit banks, and how those distinctions can affect consumers and local access to capital.
“Where you put your money matters, especially in a city like New Orleans where the impact of mergers and acquisitions of local institutions has consequences that manifest over time,” said Steve Hennigan, CEO of Credit Human. “When decision-making about deposits leaves the City, so too does the access to that capital to help fund mortgages, small-business loans and community projects that strengthen individuals and neighborhoods. When deposits leave town, some opportunity leaves with it. As a not-for-profit, cooperative credit union, we exist to improve the financial health of our members and the communities we serve – not to maximize returns for distant shareholders.”
The campaign focuses on the effects of long-term consolidation in the banking sector and the centralization of financial decision-making, positioning credit unions as an alternative model with a different ownership and governance structure:
- Shareholder-owned banks are structured to generate returns for investors, with revenue typically derived from lending, service fees and other financial products, while also providing a range of consumer and commercial banking services.
- Credit Human, a member-owned, not-for-profit credit union, reinvests into rates, fees and customer services, including one-on-one guidance offered through its Financial Health Centers to support both members and non-members.
The message of the campaign promotes credit unions as an alternative structure where members are also owners and where the institution’s stated mission centers on improving financial outcomes for its members.
“Too many New Orleanians at every socio-economic level from low to lower edge of upper-income are finding themselves living paycheck to paycheck and stuck making high-cost financial decisions–not because they’re irresponsible–but because no one has ever sat down with them to explain and provide access to options,” Hennigan said. “Our commitment is to be part of changing that – by keeping dollars invested locally and by providing the kind of financial guidance that helps people move from constant financial stress to greater stability as a platform for improvement for themselves and generations that follow.”
Credit Human – Local Stories, Local Voices
The “Straight Talk” campaign pairs perspectives on banking access, capital availability and consumer experience with commentary from Credit Human leadership, including CEO Steve Hennigan, outlining factors contributing to current conditions and potential approaches to improving financial access.
The campaign has been rolled out across multiple digital channels, including a dedicated microsite featuring interviews with community members, Credit Human customers and leadership discussing access to capital and local investment.
The work is designed to complement Credit Human’s on-the-ground investment in Financial Health Centers, direct engagement with community groups and non-profits, financial education programming, and one-on-one coaching that help people better understand credit, manage debt, and build savings.
Credit Human operates six locations in New Orleans, with more planned, as part of its focus on expanding access to financial services in areas where traditional banking presence has declined. Credit Human has an open-door policy where anyone, both members and non-members, can visit a Financial Health Center to speak with one of Credit Human’s specialists.
Credit Human and Trumpet Advertising
The Credit Human campaign was created by Trumpet Advertising, a New Orleans-based branding and advertising agency founded in 1997 that works across sectors including financial services, healthcare, tourism, education and non-profits to develop strategy-led campaigns.
