NJCUL CEO and XCEL FCU Opinions on Vermont ‘B’ Word Controversy Featured in CU Times Article

Posted by Marissa Anema Thursday, August 09, 2012 9:27:00 AM


As an offshoot to the controversy in Vermont over the state regulator’s crack down on a credit union’s use of the words “bank” and “banking” in their marketing, CUNA and the South Carolina Credit Union League suggested that copyright protection remains a key defense for at least one national branding campaign, “Every Day Is Bank Transfer Day”, according to a Credit Union Times article. 

The article, titled “Vermont ‘B’ Word Clash Draws New Industry Input”, quotes CUNA arguing that at least on the narrow issue of “Every Day Is Bank Transfer Day” marketing, “trademark protection of the phrase for use by any credit union nationwide could help Vermont credit unions fill the void.”

The article goes on to cite the New Jersey Credit Union League’s support of Vermont credit unions, quoting NJCUL President/CEO Paul Gentile, who stated in an article in the Daily Exchange on Tuesday, “‘Banking’ instantly tells consumers what it is that credit unions do. We’re certainly not banks but we offer banking services and have been doing so for 100 years.” CU Times points out NJCUL’s successful statewide “Banking You Can Trust” ad campaign, which prominently uses the term “banking”. 

XCEL FCU of Bloomfield, N.J., who is a subscriber to the “Every Day Is Bank Transfer Day” slogan, also weighed in on the issue in the article. Tom Quigley, the credit union’s director of marketing, said, “We are in full support of what is going on in Vermont” and that a group of “Every Day” users is planning to meet online in the next few days to discuss strategy.

The article is available in its entirety here


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