Rebranding: why it’s all about your “why”

It’s human nature to name things to make them easier to understand. We name things in order to identify what they are, organize them into some sort of system, and describe them to others. And once named, that thing then becomes a bit more real to us; we start to feel ownership, more of a mental and emotional connection. We understand it.

So it’s no wonder credit unions were usually named after the entity where they started. If you worked at ABC Widgets Company, it was pretty easy to understand that you could join the ABC Widgets Credit Union. Then, once you were a member, that name became one more bit of your personal identity.

Why branding should honor your history, not embalm it

Today ABC Widgets no longer exists, and the small town where it started has grown into a city. The CU’s members now come from a variety of SEGs and affiliations, and maybe even a few counties. Other than four members of the Board who retired from ABC Widgets several years ago, there is no strong common link between the name and an employer or community.

 

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