BECU Own It
Comprehensive Campaign > Comprehensive Campaign - $1 Billion and Greater
BECU kicked-off 2016 with aggressive goals to continue to grow its member base in the Puget Sound area and beyond with its planned expansion into Spokane, WA in October 2016. However, achieving these growth goals presented a considerable challenge as prospects have been more entrenched in their banking relationships than ever as consumer sentiment toward big banks continued to improve.
It was critical that BECU double-down on the credit union difference to compel prospects to consider BECU when switching financial institutions. With this focus, BECU in partnership with DNA, developed a new campaign that served to 1) reinforce the credit union difference by doubling-down on its key point of difference, member-ownership, to attract prospects; 2) introduce the brand to a new market; and 3) capture the essence, the “soul” of the brand to effectively connect with consumers.
The primary target audience was switchers – Adults 25-24 (i.e., Millennials) in Washington State. Millennials presented the greatest opportunity for BECU as they’re the least entrenched in their banking relationships and are at a life stage where they have a greater need for financial products and services.
It is also a generation thats values align with BECU; Millennials take pride in doing good and in making sustainable choices, and want to act unselfishly and consider the greater good. But at the same time, money is tight, so they do need to put their own interests first. They’re also less sure of themselves when it comes to making financial decisions and are looking for someone to help, and the big banks haven’t done much to inspire their trust.
As a member owned cooperative, BECU would be a natural fit for this target audience, but we needed to build on what they already knew about BECU so they could see BECU in a new way.