Celebrations across branch locations on August 31 mark a new era for the 80-year-old credit union
DENVER, CO (August 29, 2018) — Public Service Credit Union (PSCU) is officially and forevermore to be known as Canvas Credit Union. For the 80-year-old Colorado financial cooperative, this is more than a name change — it’s an all-out offensive aimed at disrupting how Coloradans experience financial services.
Credit Unions, by definition, are member-owned organizations that put members’ financial needs before profits. Unlike mainstream banks, it’s that member-centricity that leads to their benefits being largely overlooked. Canvas aims to break out of the shadows and bring their brand of finance to all of Colorado.
Canvas embarked on their game-changing journey 18 months ago with extensive research, engaging members, community members, and team members to better understand their needs, which are the drivers of the brand and the organization. The response was overtly positive, explicitly on a suggested name change from Public Service Credit Union to one that expressed greater inclusiveness. The credit union was originally named after the Colorado Public Service Company (now Xcel Energy).
The research starkly highlighted consumers’ desire for personalized financial guidance in a partnership atmosphere. Canvas emerged as the name most reflective of its members’ life journey — a fresh canvas on which the credit union helps members paint their future. One member shared, “it sounds like they are giving you a blank canvas, and working with you to fit your needs instead of theirs”. Another said she could “also see it as a blank canvas, and being able to create a better life through the financial backing of the credit union.”
The research further demonstrated Canvas members’ desire for a partner “on their team” that speaks in clear, simple language — something the financial industry is notoriously bad at. Canvas took this insight to heart and instituted measures to restructure every aspect of their members’ experience — from loan applications to branch visits. Their phone conversations are unscripted to promote real interaction, and they invite employees to use real, human language when discussing services. They even reinvented the way they recruit new employees to focus on personalities over resumes.
It was this spirit that inspired the Denver-based brand experience agency, Monigle, to assist with crafting the Canvas logo. The lowercase typeface reflects an approachable brand that is on the same level as its members. The logo’s arrow-style shapes not only help guide people on their journey, but also, if you look closely, form the Canvas name.
The August 31, 2018, re-branding launch marks the beginning of an ongoing journey for Canvas. The organization unveiled its new website (canvas.org) on August 24, 2018, and over the next eighteen-months will update its signage at every branch, on every ATM, and at every point members will encounter. Branches in the Fort Collins area and the Canvas Stadium on the Colorado State University campus have already received the new look.
Canvas is inviting all of its members and any member of its communities to stop into its 26 branches for snacks and giveaways on August 31. Later in the evening, Canvas will be the official credit union of the Rocky Mountain Showdown, the annual match-up of epic football rivals, the Colorado State University Rams and the University of Colorado Buffaloes at Mile High Stadium. They’ll be celebrating their new brand image with more giveaways and a chance for two students to win $1,000 each.
“We see each of our members’ futures as a blank canvas, a unique possibility waiting to be painted. Our new brand and name bring to life the work we’ve been doing for over 80 years, and today, we invite even more Coloradans to create their own unique and bright future with us,” said Todd Marksberry, Canvas Credit Union President and Chief Executive Officer.
“Credit unions have too long been a best kept secret. We hope to transform financial services one member at a time. I also hope that our story begins a revolution in credit union awareness not only in Colorado, but across the country. I’m honored to share the heart of this incredible team and be a part of shaping its future,” said Tansley Stearns, Chief Marketing & Strategy Officer.
Canvas will continue to have friendly faces, better rates and a member-first focus to change how people experience banking. As a progressive financial institution, it prides itself in being delightfully offbeat and celebrates its love for its people and members. As the third largest credit union in Colorado with more than 242,000 members and 550 employees, the company is excited to share what it has become.
Colorado State University’s Canvas Stadium at Sonny Lubick Field.
About Canvas Credit Union
Canvas Credit Union is a safe and insured financial institution with over $4.3 billion in assets and more than 295,000 members. Canvas provides a full array of financial products and services, including savings, checking, loans, mortgages, and online and mobile banking options. Serving Colorado communities for more than 85 years, Canvas currently has 34 branches and is well recognized for its people, its heart, and its commitment to community.