Credit Union Contest Seeks Best Bank-Bashing Stories

The Minnesota Credit Union Network is distributing cash prizes and gift cards to those with the best stories about banking anxiety and frustrations and/or ways in which credit unions have come to their rescue.

Local credit unions have launched a new offensive in their longstanding rivalry with banks.

The Minnesota Credit Union Network (MnCUN)-which represents 141 credit unions across the state-is hosting a “Bankziety” contest on Facebook. Cash prizes and gift cards will be awarded to those with the best stories about banking anxiety and frustrations and/or ways in which credit unions have come to their rescue.

Stories can be submitted through May 7 on MnCUN's Facebook page. Up to a dozen contest winners will be named, and the top four will receive $2,000 and a chance to tell their stories as part of a video series.

In conjunction with the contest, MnCUN developed SeeYouLaterBank.com, a website that includes a credit union finder, information that compares banks and credit unions, and various money management tips.

“Our credit unions have been telling us that they're seeing more and more new customers coming through their doors because people are ready for something different,” MnCUN President and CEO Mark Cummins said in a statement. “Based on what we were hearing, the time is definitely right to capitalize on this 'bankziety,' a term we use to describe the anxiety and frustration consumers are feeling right now about banks.”

According to the Star Tribune, MnCUN's contest marks the launch of a new marketing campaign being launched by Minneapolis-based public relations firm Padilla Speer Beardsley. MnCUN reportedly wouldn't tell the newspaper precisely how much it's paying the firm but said it's less than $300,000 for the campaign, which will run through this year.