Connex Credit Union is one of Connecticut’s largest. But with an aging membership and a poorly defined identity, Connex needed a total rebrand to position for a successful future.
The knowns and unknowns
There were two major challenges. First, most people didn’t really understand the difference between credit unions and banks. Second, banks were suffering a significant identity crisis in the heart and mind of the public.
Ingenuity builds brand equity
To us, those dual challenges presented a remarkable opportunity. If people distrusted banks and they didn’t understand what a credit union was, then position Connex Credit Union as the opposite of a bank. Make it the “Unbank”, employing a young, irreverent spokesperson. We used TV, radio and social media to drive home the point that Connex is a member-owned institution that, unlike banks, puts its depositors ahead of profits. It was a “strike while the iron is hot” approach, creating a counterculture buzz for a younger audience that had seen enough of big bank greed.
The Credit Union National Association took note, giving Connex the Diamond Award for best new marketing campaign. Since then, there has been a steady increase in membership, including a new, younger demographic base.