CASE STUDY

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.

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