CASE STUDY:

Commonwealth Credit Union

SITUATION

Commonwealth Credit Union served Kentucky state employees for more than 60 years. After obtaining a community charter, the credit union expanded into additional geographical areas. Unfortunately, brand survey indicated that Commonwealth was unrecognized in those new markets. The credit union needed to re-brand itself.

ACTIONS

Commonwealth hired On The Mark Strategies to conduct a marketing audit, which included mystery shopping the credit union’s branches and its competitors’ branches. The audit pinpointed the credit union’s brand gaps and competitive advantages. On the Mark Strategies then conducted brand workshop with Commonwealth’s senior leadership team to identify the credit union’s vision, mission, messaging and key demographics. With those brand elements established, On The Mark Strategies conducted brand training for all Commonwealth employees to create their buy-in of the new brand.

RESULTS

Externally, Commonwealth is now well-known in the markets it serves. Through a combination of messaging and an overall commitment by employees to better lives (their brand mission), Commonwealth is making a big difference in its communities, not just with its products and services but through employee volunteer service.

Internally, Commonwealth has revamped its process for recruiting and onboarding new employees. The credit union also transitioned from providing new hires an employee handbook to providing a culture guide, which details the Commonwealth and the employees’ role in that brand.

Location: Frankfort, Kentucky
Assets: $1.1 billion
Members: 93,000

One of the best things about working with On The Mark Strategies is that they were able to really relay the point to our staff how far branding extends. Branding is everything. It’s who you are. It’s the first impression when you walk into the building. It’s the way they greet you on the way in. It’s the way you interact with each other. All these things are part of your brand and that’s just something that a lot of us didn’t realize.

Travis Flora

Culture and Values Officer, Commonwealth Credit Union