Credit unions banned from advertising on Twitter

Did you know?

twitter

I can understand banning get rich quick schemes and loan sharks, but the local credit union?
Notice that Twitter is banning the small business financial institutions, so the major banks can still advertise.
Well, at least they can organically post pictures of their print ads:

 

Meredith Olmstead from Social Stairway manages social for credit unions, and explained how the ban on advertising on Twitter has hurt their efforts in reaching their local communities:

I am a Social Media Marketing Consultant and my company, Social Stairway, specializes in building engagement and measuring success for small to mid-sized businesses via social media. Currently we are working with a medium sized Credit Union in the Southeast with 38,000+ members.

Our launch for them on social media has been a tremendous success so far this fall, but we have run into a road block with not being able to promote our account or tweets on Twitter. We REALLY want to advertise more there.

Our mission via Social Media is to reach out to members and the community and provide sound financial advice as well as help with questions regarding our services and personal budgeting and retirement planning.

Our Facebook community has grown to over 1,000 fans is less than two months, so clearly we are doing something right and we believe that it is essential for Credit Unions to be represented on Twitter. Without the ability to promote our tweets and account with the ads it makes it very difficult for us to reach our target audience.

We have submitted 4 enquiries with Twitter regarding when our account will be reinstated and have received the same exact email (see above) 4 times with no explanation or idea as to WHEN we will be able to advertise again?

Here are some screenshots from their Twitter account:

 

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Who would you rather see in your stream– a major credit card company or your local credit union?

Readers, what do you think? Twitter folks– you’re welcome to chime in or write a guest post in response.

Dennis Yu

About the Author

Dennis Yu
Dennis Yu is the Chief Executive Officer of BlitzMetrics, a digital marketing company that partners with schools to train young adults. Dennis’s program centers around mentorship, helping students grow their expertise to manage social campaigns for enterprise clients like the Golden State Warriors, Nike, and Rosetta Stone. He’s an internationally recognized lecturer in Facebook Marketing and has spoken in 17 countries, spanning 5 continents, including keynotes at L2E, Gultaggen, and Marketo Summit. Dennis has been featured in The Wall Street Journal, New York Times, LA Times, National Public Radio, TechCrunch, CNN, Fox News, and CBS Evening News. He’s a regular contributor for Adweek’s SocialTimes column and has published in Social Media Examiner, Social Media Club, Tweak Your Biz, B2C, Social Fresh, and Heyo. He held leadership positions at Yahoo! and American Airlines and studied Finance and Economics at Southern Methodist University as well as the London School of Economics. He ran collegiate cross-country at SMU and has competed in over 20 marathons including a 70-mile ultramarathon. Besides being a Facebook data and ad geek, you can find him eating chicken wings or playing Ultimate Frisbee in a city near you. You can contact him at dennis@blitzmetrics.com