Magna Bank Opens Wolf River Branch; Memphis Coach John Calipari
to Cut Ribbon

MEMPHIS, TN —Tuesday, November 27, 2007 – Local college basketball fans will have a chance to see Coach John Calipari cut the grand opening ribbon at Magna Bank, hopefully as a precursor to cutting down the NCAA National Championship nets at the end of the season.

Calipari will cut the ribbon when he officially inaugurates Magna’s new Germantown branch on Thursday, November 29th. The branch recently opened at the corner of Germantown Road and Wolf River but even before the opening, the bank leadership began a full court press to put the scissors in Coach Cal’s hands.

It’s all part of an unconventional marketing campaign that Magna Bank’s President and CEO Bill Menkel is certain will be effective.

“The local spotlight is always shinning on Coach John Calipari,” said Menkel. “And it’s obvious that college basketball and the current success of his team have a powerful marketing draw that will be good for us.”

It will be good for fans as well. Those who attend the ribbon cutting event will have an opportunity to have their pictures taken with Calipari, coach of the nationally ranked University of Memphis Tigers.

Germantown dignitaries, business leaders and local celebrities will receive a hand-delivered invitation to the ceremony consisting of a box tagged: “The Ball is in Your Court.” A seven-inch Magna basketball was placed inside along with a cardboard invitation that has a blue Sharpie marker attached.

“We wanted to make it easy and convenient for fans to get Calipari’s autograph on the mini basketball,” Menkel noted.

If not on the list to get a hand-delivered invitation to the Magna Bank ribbon cutting with Coach Cal, there is another way fans can get in. During the next two weeks, shoppers in the

Germantown and East Memphis area will want to keep a sharp lookout for lost black leather wallets that will be ‘dropped’ at more than 50 retailers and restaurants. The wallets with a Magna Bank logo embossed on the lower-right corner contain a Tiger Basketball schedule, a tip sheet on interest rates and a certificate to attend this high profile, invitation-only ribbon cutting and autograph party at Magna’s Germantown branch.

The certificate can be redeemed before November 29th for an invitation to the event at the branch located at 1264 Germantown Road. If a wallet is found after the 29th, the bank will offer another prize.

For people who aren’t college basketball or Memphis Tiger fans, Magna’s marketing effort is not all Coach Cal. Magna Bank personnel will distribute 500 bouquets of blue and yellow flowers to Germantown area offices and retailers as well as to anyone who enters one of the three Magna branches in the Memphis area.  Free newspapers will also be handed out to commuters during several morning rush hours.

The ideas for this unusual marketing effort were developed by Magna’s marketing agency, Signature Advertising. These tactics target shoppers, commuters and businesses in the Germantown and East Memphis area.

“This is designed to show we’re a fun, exciting addition to the Germantown community,” Menkel explained. “Our promotions reflect the bank’s personality as a spirited, enjoyable place to conduct your banking business.”

Magna’s Executive Vice-president and Retail Banking Division Manager Lisa Foley agreed. 

“Giving harried drivers a morning newspaper and brightening up an office with flowers is just our way to reach out personally to our new community and having Coach Cal cut the ribbon reflects our local support of the Memphis community,” Foley said.