Since 1963, Baltimore County Employees Federal Credit Union (BCEFCU) had been serving employees and families of Baltimore County. Fast forward 60 years and the Credit Union identified that its aging membership and stalled growth, particularly in the younger demographic, will soon become an issue that needs to be addressed, quickly and strategically.
After several internal discussions with the BCEFCU marketing staff, key stakeholders and the Board, BCEFCU was ready to develop a new brand name and refreshed brand identity. The overall goal was to create a contemporary yet durable brand that still connected with existing members but was also more appealing to a new younger identified prospective group. With its new name and brand, the Credit Union would be able to boldly focus on wider market appeal, leading to real growth in new memberships, deposits and loans.
The Channel team was hired to identify and survey perceptions in the marketplace, both with the greater outside community within their target geography, BCEFCU’s current membership, staff, and the Board, to create a new brand and identity, and create a suite of communications deliverables. After conducting several rounds of both quantitative and qualitative research, BCEFCU’s current name had been identified as a limiting factor (particularly, “Baltimore County Employees”) for those looking to join the credit union and, thus, Peake Federal Credit Union and its tagline, “Banking. Elevated” was born.