Bank and Credit Union Brand Fundamentals

Brand Fundamentals at a Glance:

• Good branding looks at what’s an essential, embedded, and enduring element of a brand and brings that forward
• Brand storytelling should focus on the relevance between your brand and your audience
• The best brands match their core values to consumer expectations, even as they change

In the Financial Brand article “How Branding Pays Off in the Bottom Line and in Tough Times,” Adrenaline’s Chief Experience Officer Juliet D’Ambrosio explores how a bank’s brand can provide a solid foundation for organizations to lean on. Having a strong bank or credit union brand is especially important when the stakes are high, like during the regional banking turbulence that the financial services industry experienced in 2023. But while many organizations may understand the relationship between their brand and business value, do they know how their brand’s foundation can guide them through tough times?

While having a strong brand is essential for moments of uncertainty, Adrenaline’s survey on financial institution business success found that many brands may not be ready for prime time. That’s because the vast majority of banks and credit unions we surveyed haven’t touched their brand within the last three years, with 14% not updating their brands for more than a decade – or “when Blackberries were a thing.” Based on the Financial Brand article and best practices in the real world, we’ve rounded up some brand fundamentals for banks and credit unions to help ensure they’re ready to meet the moment.

1) Define Your DNA

A best practice for branding in any industry is to be hyperaware of your organization’s core truth – the internal beating heart that makes your brand what it is. Dig into what’s an essential, embedded, and enduring element of the brand and bring that to the forefront.

2) Prioritize Brand Strategy

A strong strategy shines a spotlight on a brand’s story and core organizational values that will help provide a roadmap forward. Strategy provides a solid foundation for banks and credit unions of all sizes – both for their business and for their brand – and brand strategy in particular is a connective thread uniting people across the organization. Brand strategy allows banks and credit unions to stand out among their competitors, connect with audiences that matter, and is the engine for business success. For institutions of all sizes, brand strategy is a vital foundation for how organizations show up in the world.

3) Meet the Moment

Silence is not a strategy. In tough times, it’s essential to lean on your brand and communicate clearly, often, and with appropriate breadth and depth. A shining example of a bank brand stepping up when it mattered most is VeraBank. As news of the 2023 regional banking crisis rippled across the industry, many banks and credit unions chose to lay low and wait for the upheaval to pass. But VeraBank’s President and CEO Brad Tidwell reached out directly to customers to address any concerns about the bank’s standing, and even took a very public stance to calm the industry, appearing on CNN, the New York Times, and NPR’s Marketplace.

4) Tell Your Story

Your story isn’t just about you – it’s about who you want to influence and inform. A holistic brand story builds a meaningful narrative that communicates organizational vision, mission, and values in a way that makes their promise real for people. Banks and credit unions that tell their story well connect with customers and members in a meaningful way – communicating values that are not just about your organization, but how the brand adds value to their lives. Successful storytelling should always focus on the relevance between your brand and your audience member’s real lives.

5) Communicate with Intention

What is your brand telling the marketplace? The best brands match core values to consumer expectations, even as they change, and consistently center customer needs in an ever-evolving environment. Understanding the impact of brand communications is one thing, but matching the right channels with the right message is table stakes. With advice on channel communications, Adrenaline says, “Developing a thoughtful communication channel strategy enables leaders to tap into the inherent influence of each medium to create power and presence for their brand,” ultimately communicating the brand is there to help people and their communities prosper.

To learn more about brand fundamentals for your financial institution, or to speak with one of Adrenaline’s bank and credit union experts, contact us today.  And be sure to stay tuned in to the Believe in Banking Podcast as it highlights industry news and views for banking leaders.

Adrenaline is an end-to-end brand experience company serving the financial industry. We move brands and businesses ahead by delivering on every aspect of their experience across digital and physical channels, from strategy through implementation. Our multi-disciplinary team works with leadership to advise on purpose, position, culture, and retail growth strategies. We create brands people love and engage audiences from employees to customers with story-led design and insights-driven marketing; and we design and build transformative brand experiences across branch networks, leading the construction and implementation of physical spaces that drive business advantage and make the brand experience real.