Credit unions provide many financial advantages over banks, including lower fees and interest rates on loans and savings accounts, more personal service from employees who focus on helping members with key decisions that could have an effect on their future, and local presence that allows credit unions to develop trusted relationships with customers for small-business loans as they often possess an in-depth knowledge of local economic trends and challenges.
Seven seventeen Credit Union is a community-based financial institution founded by members of IUE Local 717 at Packard Electric in 1957. Since then, its branches and membership has expanded significantly, now reaching Trumbull, Mahoning, Columbiana, Portage Summit counties of Ohio as well as certain areas in Stark counties in Ohio. Led by an executive team and board with expertise in banking operations.
The Credit Union’s roots in working-class culture and conservative midwestern values have fostered longstanding relationships between its employees, customers, communities and local businesses. These strong ties have enabled it to build up an excellent reputation among employees, customers and communities as an honest and trustworthy business dedicated to meeting its members’ financial needs in an ethical and respectful manner. This core value was the driving force of its rebranding effort as it informed every aspect of this project – from logo and tagline creation through color palette selection and brand storytelling.
As part of our planning process, we focused on creating an intimate yet vibrant brand vision that would resonate with target market segments. To do this, we carefully considered the CU’s mission and values; these were centered around building your financial strength through our common bond; this mutual respect theme guided our brand promise: Respectfully Yours.”
As part of the process, we created a range of marketing materials suitable for use across all media platforms – this included new advertising, collateral and an online and mobile website. Furthermore, we designed an enhanced member experience specifically tailored towards account opening and online application processes to reduce friction for new members.
After its rebrand, loan growth remained strong despite an uncertain housing market and rising mortgage rates environment. Membership also continued to experience robust growth; and, their Net Promoter Score (NPS) showed its success with this brand strategy change.
Recently, Global Market Insights honored our Credit Union as one of America’s premier credit unions in a study they conducted, bestowing this honor upon only 250 credit unions and regional banks nationwide. Their selection is determined by metrics measuring customer satisfaction, member engagement and the financial health of an institution – testaments to both the hard work of its team as well as loyalty of members who made this distinction possible!
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