Credit Unions now are able to re-charter and offer their services to those outside of their normal customer base. Thus, credit unions like City Employees Credit Union find themselves looking to marketing firms to help understand the newfound opportunities in the marketplace and map out a strategy on how to launch. Part of that strategy is the development and selection of a new name for their credit union. Most, if not all, are deeply connected to their roots and, some, have had those names for over a hundred years. Change is a difficult thing to manage and an emotional thing to overcome.
However, the opportunities are boundless when it comes to directly competing against other credit unions, banks, loan companies and more. City Employees Credit Union reluctantly chose to rebrand their financial institution and become known as simply CECU.
Colloredo & Associates recommended the change, the new logo and launched a multimedia campaign complete with new graphical approach, new color scheme, newly-created contemporary graphics and lively, upbeat commercials. This was a big change in direction for a credit union who had not previously needed to advertise.
Colloredo & Associates launched television, radio and newspaper advertising to demonstrate to the local Knoxville market that CECU was a fun, lively, happening place to do banking business. This was a great campaign directed to millennials and baby boomers alike.