$113M Caro Federal Credit Union Takes on Wells Fargo

Wells Fargo personal line of credit borrowers are ticked; the mega bank announced earlier this month that it was shutting down all personal lines of credit.

Caro Federal Credit Union is capitalizing on Wells Fargo’s business decision by working to scoop up all the customers who will be running for the doors. Caro FCU CEO Anne Shivers, working with Your Marketing Co., is determined to help the borrowers.  

Caro FCU is geofencing all the local Wells Fargo branches in the Columbia, S.C. area surrounding its field of membership, which will allow the credit union to put its messaging in front of people around those branches.

“Particularly now as people are working to recover from COVID-19’s financial impact, it’s unconscionable that Wells Fargo would just turn people’s lines of credit off,” Shivers said. “Not only does it shut off access to fund, but it also damages their credit scores. It’s not right, so we’re going to do something about it.”

Your Marketing Co. CEO Bo McDonald stated, “I’m so proud of Caro FCU and Anne for taking this targeted approach to provide help to these consumers whose big bank is treating them as just a number. Every credit union should be leveraging opportunities like this to demonstrate the true credit union difference and ensure consumer awareness of how relevant credit unions truly are.”

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Your Marketing Co., is a full-service strategic planning, branding and marketing firm serving credit unions that are not content with the status quo. Since 2008, YMC has helped dozens of credit unions grow their potential through strategy, execution and accountability. And we give a damn!