CHARLOTTE, N.C., Aug. 6 /PRNewswire-HISPANIC PR WIRE/ — Bank of America recently debuted its new Spanish-language campaign, Hacia Adelante, to demonstrate how the bank can help Hispanic customers achieve a better financial future for themselves and their families. The new advertisements convey the central importance a checking account plays in achieving life goals such as owning a first home, paying for college and starting a small business.
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The campaign delivers upon findings from a new national survey conducted on behalf of Bank of America that include:
— One-in-four (24%) Hispanics said they do not have confidence in their financial management skills
— One-in-four (24%) reported they would like to have a better understanding of all the products and services a bank has to offer, nearly 40 percent more than non-Hispanic respondents
— One-in-four (25%) reported they would like to talk with their bank about how best to meet their financial goals, 80% more than non-Hispanic respondents
“More than half of our survey respondents say today they turn to family, friends and neighbors for financial advice. In launching Hacia Adelante, we want to instill confidence among our Hispanic customers that they should feel comfortable visiting a banking center and speaking with our bilingual associates about their financial needs and goals.” said Lynn Kuttruff, Consumer and Small Business Deposits and Growth Markets marketing executive. “Our message is simple: Bank of America is committed to providing all of our customers with the personalized banking center services and innovative financial solutions they need to meet their financial goals.”
Hacia Adelante follows a recent American Banker Association finding that nearly two thirds (62%) of Hispanic consumers (more than double non-Hispanic respondents) are unaware that the Federal Deposit Insurance Corporate (FDIC) insures their bank deposits up to $100,000.
“The American Bankers Association study re-confirms that many Hispanics are skeptical of financial institutions when it comes to meeting their needs. We want to reassure all of our customers that we are here to help them achieve their financial goals, while keeping their accounts safe and secure,” added David Rudis, Checking and Debit executive.
The new campaign includes two TV ads, as well as new radio, print, out-of-home, ATM and banking center point-of-sale advertising. The media campaign runs through September 7. The commercials communicate account features including: FDIC insurance, free check cards with photograph, Total Security Protection(R) package to protect against unauthorized transactions, Online Banking in Spanish-language for money transfers and 24/7 account management, and access to more than 6,100 banking centers and more than 18,000 bilingual ATMs.
The survey was conducted by Braun Research via telephone from June 16-30, 2008 of 500 nationally representative U.S. adults and 500 Hispanics. The margin of error for each audience is +/-4%. Braun Research, Inc., is a privately-held marketing and public opinion research firm whose goal is to uphold the highest standards of data collection. Headquartered in Princeton, N.J., Braun Research engages in data collection via telephone and online for various marketing and advertising agencies, survey research firms, government agencies, foundations, universities and academic entities, as well as religions organizations. Since the company’s founding in 1995, it has conducted more than 4,600 research projects worldwide. Braun Research is a well respected firm employing techniques and Standards approved by various survey research academic organizations and other affiliations including those with whom Braun is active member, including AAPOR (The American Association for Public Opinion Research) and CMOR (Council on Marketing and Opinion Research) and CASRO (Council on American Survey Research Organizations).
About Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,500 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Bank of America, Member, FDIC.