Neither snow nor rain nor heat nor gloom of night will keep us from creating knock-out rebrands for our clients. A perfect example is how MarketMatch rebranded Central Florida Postal Credit Union (CFPCU) …as Priority Credit Union, which helped drive a 5% growth in members in only the first 6 months.
Originally, CFPCU was created to serve area US Postal service workers and their families. Recently, they expanded their charter to serve the whole community. While their charter changed, the name didn’t—which created a lot of confusion. Add to that the visibility issues: all but one of their locations was tucked away inside post office locations.
With double-digit growth in interest income as well as assets, deposit balances and a large jump in loan balances, the credit union was financially in great shape. This seemed a great time for CFPCU to focus on revitalizing its brand to attract new members and build even deeper relationships with existing members.
- Continue to speak to the postal SEG
- Increase awareness in the community despite limited branch visibility
- Evolve the member perception of CFPCU from simply a lender to a full-service financial institution
- Provide a service level that demands member’s attention
- 5% member growth in first 6 months
- Increase in checking penetration
- 3.6% increase in loan balance in first 6 months