For 50 years Carolina Collegiate Federal Credit Union had a name that reflected its original ties to a local education community. As the credit union’s need to grow beyond that became apparent, the executive team wanted a new name that would pay homage to its education ties while sounding more inclusive to other members eligible to join its field of membership.
The need for a name change became clear during one of the credit union’s strategic planning sessions facilitated by On The Mark Strategies. The credit union hired On The Mark Strategies to conduct its branding workshop. That time was spent in dialogue determining the credit union’s mission, key demographics, messaging and overall brand identity. Armed with those branding elements, executives then participated in a name change session to select a name. On The Mark Strategies conducted brand and name change training for staff.
The credit union selected Caro – Smart Financial and is now positioned to better compete in its respective markets. The training created buy-in from all employees on both the brand and the new name. The new name is still in its infancy, but member feedback has been positive.
Assets: $88 million