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 co-author of the #1 best-selling book on Amazon in social media, The Definitive Guide to TikTok Ads.  He has spent a billion dollars on Facebook ads across his agencies and agencies he advises. Mr. Yu is the "million jobs" guy-- on a mission to create one million jobs via hands-on social media training, partnering with universities and professional organizations.

You can find him quoted in major publications and on television such as CNN, the Wall Street Journal, Washington Post, NPR, and LA Times. Clients have included Nike, Red Bull, the Golden State Warriors, Ashley Furniture, Quiznos-- down to local service businesses like real estate agents and dentists. He's spoken at over 750 conferences in 20 countries, having flown over 6 million miles in the last 30 years to train up young adults and business owners. He speaks for free as long as the organization believes in the job-creation mission and covers business class travel.

You can find him hiking tall mountains, eating chicken wings, and taking Kaqun oxygen baths-- likely in a city near you.