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WaMu Gave Grandma's Money to Crooks

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New York Times Reporting on ICT

The article appeared on May 21, 2007.

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Wednesday, March 15, 2006
WaMu's new ad campaign
You've probably seen the new commercials with the stodgy, old bankers in the basement that the Wamu spokesman says they are actively ignoring.

Here's the Adweek summary:

* CHICAGO Publicis Groupe's Leo Burnett depicts Washington Mutual using a captive focus group of stodgy, rich bankers to help guide its business decision in the agency's first work for the client.

* In television spots breaking today, the agency introduces the idea of the "banker's pen," where a pool of rich bankers is kept in the basement of a Washington Mutual branch.

* The new spots introduce a free checking product, which offers free ATM cash withdrawals, a free overdraft waiver, free checks for life and cash back for debit card use.

My question for Washington Mutual: was it one of those old bankers in the basement that told you not to accept checks like this?

Wamu accepted this check

If so, maybe you should hear out a few of their ideas. (One conclusion a cynic might draw from all of this: Washington Mutual doesn't mind sacrificing a few senior citizens if it serves the higher purpose of their own public image.)

A more detailed description of the new Wamu ad campaign can be found here:

Washington Mutual Launches National Advertising Campaign in Support of Its New WaMu Free Checking(TM) Account, Stirs Up the Industry

I suspect it has less to do with stirring up the industry than covering their ass(ets).



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