Full-page newspaper ads try to calm economic jitters

Guest Opinion, Portland

The market crisis has created a wave of full-page and pull-color ads to hit national and local newspapers. Yesterday US Bank aimed for confidence when they placed a full-page ad in The Oregonian stating in large bold headlines “Bank Solid. Bank US Bank”. The ad further states “Since 1863…Our prudent approach to banking, strong balance sheet and solid position have put us in a better position to serve you.”

Also in The Oregonian this week, UBS Financial Services went for large full color advertisement with the headline “You and Us. The World changes. Our commitment doesn’t.” The ad further stated “Markets may be volatile, old certainties may waver. But you can be sure that at UBS, our commitment to our clients has not changed.” Clearly the banks and financial firms are addressing market fears head-on in order to stem customers pulling deposits and making panic stock sells.

The credit unions have placed the same full-page ad in the same newspaper, but their approach seems to be distancing themselves from banks and Wall Street. The credit union ad states “Member-owned. Not for profit. It’s what makes credit unions different than banks. We are financial institutions without shareholders or Wall Street investors. Instead, the credit unions of Oregon are owned by 1.4 Million regular people – Oregonians just like you…Isn’t it time you joined us?” This subtle we-are-not-them ad has run several times in The Oregonian.

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