Essential Federal Credit Union
Essential Rebrand
Objective
Rebrand a credit union to better engage with a changed customer base in order to grow membership and assets.
Challenge
Transitioning from an employee-based credit union to a community credit union allowed for marketing to a much larger customer base, but the heritage name was tied to the old mission. A new name with broad appeal was now needed. However, the new identity had to feel inclusive of existing members.
Solution
- Conducted quantitative research to define current brand perceptions of all credit unions in then market
- Led a Brand Bootcamp to define the core purpose of the new brand
- Developed and focus group tested a suite of new names, logos and brand identities
- Launched a transition campaign for the new brand identity
- Introduced the new brand with TV, print, social media, public relations and direct mail
- Developed and applied brand guidelines to every aspect of the brand change
- Trained employees on how to present and sell the new brand
- Introduced the new brand to key audiences via special events
Result
In the year following the name change, membership increased eight percent versus a two percent average increase in the three years prior. Since the new brand was introduced, the credit union has had a 27 percent increase in total assets.
