RAPID CITY, S.D.–Credit unions in this state are being cautioned over what is believed to be a marketing scam targeting CUs.
According to the Credit Union Association of the Dakotas, Sentinel FCU was contacted by a “production company” that targets the CEOs of a business with an offer soliciting to purchase videos for almost $27,000. The company claimed one of the videos would be a three-five minute short-form documentary that would highlight the benefits of South Dakota credit unions and would feature the credit union in the video, according to the CUAD. This short video would purportedly air on public television stations, even though PBS does not air paid programming like this paid video.
Marketing materials created as part of the alleged scam include a photo of actor Rob Lowe and suggest he is involved in the project.
The CUAD added the pitch that is being made says the company will also produce two more videos that could be posted on the credit union website and social media sites, and a one-minute educational commercial segment which could broadcast on cable channels. “They again mislead by not disclosing that air time would have to be purchased on the cable channels,” the CUAD said.
The association noted that PBS has also issued a warning over such solicitations.