How well you do depends on
how well you tell your story.
YCU CASE STUDY
Your Credit Union repositions against ownership
Your Credit Union had a number of objectives when they engaged in their rebranding exercise. They had gone through a period of contraction and consolidation. Membership was now open to all and they were about to initiate an aggressive plan for growth. They had never marketed to the general public before and knew that they had to convince them that a credit union could offer unique and powerful benefits beyond those of a traditional bank. They engaged brand strategist Blair Minnes and Designer Kate Howes to help them establish a new brand identity and identify the benefits that would best motivate the public to join Your Credit Union.
This re-imagining included a new logo, new branch design and new messaging to attract new members in significant numbers.
Ownership is what makes credit unions better than banks
Years of research with credit union members and the general public has proven that the concept of ownership is what the public finds most compelling about the credit union model.
The campaign for Your Credit Union announced that they were “Giving YOU the strength of ownership” and it was effective in both intriguing the public and causing them to investigate membership in YCU.
The ownership message remains consistent through all platforms.
Billboards
Directmail
Social Media
RESULTS
New membership increases by 30%
Of prime importance was increasing new membership. Like most credit unions, Your Credit Union membership had been flat for several years. New membership for the most recent fiscal year is up 30% over the average of the previous three years.
Three new branches are established
Your Credit Union successfully opened three new branches in 2016 with a branch design
that was based on the new brand image.
There are now plans to open a further six branches over the next three years.
Term deposit sales increase
Term Deposits have been a focus of the marketing initiative for the last fiscal year. “Our pipeline has increased by 20 million dollars”,
say Joel Lalonde, President and CEO of Your Credit Union, “and actual term deposits have increased by 18%.”
Staff pride in the new brand leads to increased share of wallet
President and C.E.O. Joel Lalonde believes strongly that one of the most important benefits of the rebranding exercise has been the renewed pride his staff have in the organization. This pride has had a tangible result through an internal program that asks staff to encourage current members to move their deposits at other F.I’s to Your Credit Union. Staff have identified millions of dollars in member deposits and have been converting those deposits to Your Credit Union at a rate of 50% or more.