Illustration for Marketing Maven Column at Enterprise Magazine

Prospera Credit Union rebranding efforts were an extreme makeover that turned its image to slick from stodgy.

" Branding is an essential differentiator in the financial marketplace, says Puiu, since financial products differ very little from one institution to the next. That’s why he hired one of Canada’s largest agencies, Cossette Marketing, to help establish a bold new brand featuring distinctive emblems and colours. Simplicity was key. “If you look at world-class brands – Nike or Adidas – they’re simplistic, but people understand what they are,” Puiu says...

In the end, Puiu says it all comes down to differentiation since “banks can eat us alive with their marketing dollars.” A strong brand, well implemented, can go a long way to fending off any nibbles."

by Diane Luckow