Danversbank hits home run 

On November 20 in the midst of bank failure news, economic chaos and uncertainty on every financial front, Danversbank (www.danversbank.com) ran a two-thirds page color ad in the Boston Globe. 

Headlined A history of strength and stability, the ad featured a photo of the bank president facing the reader squarely with a phrase from the bank mission statement (“deliver exceptional service to our employees, customers & community”) behind him.  So far, so standard.   

But here’s the kicker. In bold color, the ad makes this statement…. 

Danversbank raised significant capital reserves from depositors in its public offering in 2008, has excellent asset quality and liquidity, did not participate in subprime mortgage lending, and held no Fannie Mae or Freddie Mac preferred stock.  We continue to lend money to corporations, non-profits, small businesses and families, and we have 100% deposit insurance coverage, regardless of your account balance. 

This is a powerful selling message!  Specific points reinforce the bank’s sound direction, responsible management, safety, and stability.  They provide reassurance for the bank’s customers and future customers. 

The call to action in the ad invites readers to contact the president & CEO directly by phone or by e-mail for answers to questions or concerns they might have. 

This ad is the best public response by a financial institution that I have seen locally in the midst of the current crisis.  Cheers to everyone who had a hand in generating it.   

COMMUNICATIONS MORAL:  Avoid cliches; present real consumer benefits; offer facts to back your claims