Massachusetts-Area Banks Using Pro Athletes As Endorsers To Grow Their Brands

Pro athletes, past and present, are "showing up more frequently in bank television commercials and advertising campaigns, whether it’s for a small credit union or the state’s largest community bank," according to Deirdre Fernandes of the BOSTON GLOBE. Athletes "provide glamour, excitement, and energy for better times -- and for banks looking to grow." Boston-based Eastern Bank paid Patriots TE Rob Gronkowski an "undisclosed sum in the run-up to the Super Bowl to surprise a customer with a couch delivery." The bank also works with former NFLer Doug Flutie and "had a relationship" with Texans DT Vince Wilfork while he was with the Patriots. Meanwhile, Massachusetts-based Berkshire Bank earlier this month signed Hockey HOFer Ray Bourque and Bruins LW Milan Lucic as spokespeople "as it tries to make a name for itself outside Western Massachusetts." Another Massachusetts-based bank, Salem Five, uses Red Sox 2B Dustin Pedroia as a pitchman and "developed an animated series around him." For athletes, these endorsement deals "can be an easy way to make some cash, burnish their reputations, draw attention, and connect with the community." Multiyear contracts involving commercials, billboards, and events "can run up to as much as $500,000." That is "small change compared to what the top echelon of pro athletes can draw." But Harvard sports marketing professor Stephen Greyser said that for athletes who "don’t have national reputations, regional endorsements, for banks and local restaurants, are an appealing option" (BOSTON GLOBE, 3/27).