3 Branding Tips for Credit Unions

My creative agency BRINK are proud proponents of community banking models, seeing them as a form of activism and empowerment for people to take more control of their local economic system.

Our most prominent work in this space is as the longtime agency-of-record for Vantage West Credit Union, one of the largest credit unions in the state of Arizona. The work we’ve done with Vantage West has earned many awards and accolades, but most importantly has helped them grow from $1.6 billion to $2.5 billion in assets in just 4 years using bold and often subversive campaigns, best exemplified with their tagline: Banks own you. You own us.

With this success, we wanted to reflect on and share a few lessons learned.

#1 Credit Unions should focus on brand, not product.

Building a strong brand that stands for something in the market creates a more reliable platform for sustained growth vs. chasing rate shoppers with incentives and product offerings. Make people feel connected with your brand and they are far more likely to adopt more products and make you top of wallet.

#2 Credit unions should invest in their brand position and make everything ladder up to it.

Member expectations are at an all time high and are being influenced by non-banking experiences. Studies show that 87% of consumers compare their experience with a brand to their experience with a select few — think Amazon, Netflix, Starbucks. Credit Unions should prioritize the Member experience first before going heavier on advertising. What are ways you can help build trust? Vantage West focuses both on community storytelling (such as the flagship THRIVE content series) as well as financial wellness programs that help further demonstrate we are a mission-driven organization.

#3 Credit Unions should lean in to their biggest strength: ownership

A rising tide lifts all boats. Credit Unions should spend no time, energy or resources competing with one another and instead put all of their attention to challenging the big banks, leveraging their biggest asset. Everyone values ownership and in a cultural landscape that has become increasingly about “elites vs. everyone else” credit unions have a big opportunity to make it clear they stand for everyone else.

If you’d like to pick my brain further, feel free to reach out.