A small bank based in Fort Worth Texas went after the big guys. And so far, it’s working. One billboard at a time, they are riding the wave of consumer opinion that the banks must have done something wrong if they needed TARP money. By letting people know that Worthington Bank didn’t take any of that money, they are creating a halo effect. People are feeling more comfortable putting their money into Worthington. But comfort isn’t the only motivating factor. It’s pride. Most people have worked very hard for what savings they have and take pride in knowing that they’ve been able to survive on their own without much help from others. They relate to a bank that does the same. It’s not that they wanted the economy to go into a tailspin or that they don’t think people should get help when they need it. But banks are not exactly an easy institution to sympathize with. And consumers understand that no matter how small their account is, what they do with their money is in fact a vote for what they stand for. Understanding this consumer insight has proved to be priceless.

Billboards saying things such as “Just say no to Bailout Banks. Bank responsibly,” “Did your bank take a bailout? We didn’t,” and my personal favorite that was placed next to the local zoo “Don’t feed the animals” with the word animals crossed out and “big banks” scribbled in.

And while big banks are crying foul saying that TARP money was important and helped a lot of people out, this little bank is growing rapidly. To the tune of $5 million in new deposits since the launch of the campaign. In their own little way, consumers are saying enough is enough with the poor me mentality of big banks.

After all, if we’ve learned anything from the automobile manufacturer Ford lately, it’s that stability is still part of the American dream.

Here is a video about the work. http://www.youtube.com/watch?v=9SNCuQ04ang.

Some of the back and forth about the campaign:
http://www2.snl.com/Interactivex/article.aspx?CdId=A-9218440-12642
http://www.bizpress.net/display.php?id=9849