What Makes A Great Credit Union Brand?

A class of goods identified by name as the product of a single firm or manufacturer or a characteristic or distinctive kind. That’s the tired definition of brand from Merriam-Webster.

That’s fine, and any credit union leader reading this will be glad to know your credit union brand is most likely fulfilling at least that definition of brand.

Here’s what makes a great brand: It should live as a character in the minds of customers, like the fictional characters that make great novels, television shows and movies, well, great.

If you feel connected to a brand, it’s because that brand represents something you believe in.

Most people can claim at least one brand they feel passionately about for that very reason.

Credit union brands don’t often fall into that bucket. We remain a commodity that may edge out the competition on an adequate level of service or convenience.

If you’ve recently pondered whether your credit union brand needs some clarity, or maybe a refresh, here are three things an expert brand consultant will do for you:

  1. Identify the characteristics of your credit union brand. It’s quite possible that you never intended your brand to have the characteristics that it currently does, yet there they are. The best brand consultants want to answer the question, “What makes this brand think, speak, act and see the world the way it does?”
  2. Amplify those characteristics to live a distinct brand personality. We do not bond with products or services that lack personality.
  3. Craft your credit union marketing messages to reflect the brand’s personality. Doing so will accelerate your credit union marketing efficiency and bolster member growth to a whole new level.

How did your current credit union brand get to where it is? It’s a reflection of the leadership and the person in charge of marketing. Good or bad, it is what it is.

If you consider the YMC brand you will note hints of John Legere and Ed Stack, leaders that I have studied closely and learned from.

I recently examined several credit union brands and have found that their brands reflect their CEOs’ personalities as well. One, a former client that underwent a CEO change about a decade ago, has become very quiet and conservative – a slow evolution since his becoming CEO.

I share these tidbits to help credit union leaders identify how your current credit union brand truly became your current brand. If you don’t like what your credit union brand has become – or more importantly, your members and potential members aren’t responding to it – Your Marketing Co.’s proven and experienced team can help identify your credit union’s brand using an outsider’s perspective, amplify its characteristics to stand out and craft your credit union marketing to match and help you grow.

Need Some Guidance?

From strat plans to rebrands, YMC President and CEO, Bo, is passionate about helping financial institutions come up with a winning formula. If you’re ready to go beyond the SWOT, you can email him at bo@yourmarketingco.com.

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