Customer-Owned Bank BCU Unveils Refreshed Brand

BCU Bank (‘BCU’), a division of P&N Group, has launched their brand refresh on the back of winning multiple awards for their competitive product range and the recent launch of a new banking companion app, mymo by BCU.

Mark Smyth, general manager of BCU Bank, said, “We are excited to launch our refreshed brand, which reflects our commitment to our customers, our investment in the future and a springboard for new opportunities for growth and success. The banking industry continues to face rapid changes and we need to listen to our customers, understand their evolving needs and aspirations, and leverage our core strengths to be a brand that inspires them.”

Research conducted by the organisation identified the potential for BCU to grow its brand awareness and market reach in NSW and south-eastern Queensland outside the traditional heartland area. A key element of the research informed BCU’s decision to incorporate the term ‘Bank’ more prominently into its visual and verbal identity.

To that end, the bank embarked on a brand repositioning project with international customer and brand experience agency VMLY&R in January 2022.

BCU senior manager, brand and marketing Michelle Hemingway said key learnings from focus groups, surveys, and other analyses of BCU’s target audience had been used to develop a strategy that reaffirmed BCU’s unwavering commitment to their customers.

“This project hasn’t just been about refreshing BCU’s look,” Michelle said. “It’s been about rediscovering and redefining BCU’s ‘why’, so we can develop a brand platform that accurately communicates our purpose.

“BCU exists to empower our customers to confidently take control of their financial goals, and our new brand reflects that.”

Michelle said the brand positioning project has seen BCU refine its visual and verbal identity, complete with a new logo, font, colour palette, imagery, and tone of voice.

“Our new logo puts a fresh and modern face on the brand, while subtly paying homage to BCU’s rich history and origin from the banana farming community in the Nambucca Valley, with references to the banana leaf through rounded and sharp edges, and the leaf-inspired full stop.”

Michelle said the brand’s new look is contemporary, engaging, and energetic, including illustrations that bring new life and character into the brand.

“The friendly and light-hearted BCU characters represent our valued customers,” she said, “with simplified details that allow them to be easily adapted into different poses for imagery that’s focused on people, not products.”

The bank’s new strapline – ‘Because you, BCU’ – is supported by its new brand pillars and backed by the extensive research and brand positioning work completed as part of this Project.

Adam Kennedy, managing director VMLY&R, explained that the new BCU branding was inspired by the organisation’s purpose.

“BCU has a longstanding customer-first philosophy which underpins everything they do. That’s how we landed on ‘BECAUSE YOU’ as their new brand line. Simple and memorable, it encapsulates the brand’s mission to help customers navigate life’s financial journey. We paired this promise with a logo design and visual identity that’s not only fresh and contemporary but also nods to BCU’s proud heritage. We can’t wait to see how existing and new BCU customers react to it in market.”

The new brand positioning is expected to help bolster engagement and advocacy, both internally and externally, and will be essential to connecting with existing customers and growing BCU’s customer base along the east coast.

Michelle said the new branding will initially co-exist with the old brand, so customers can expect to see both in-market.

“BCU is taking a strategic approach to re-skinning and refreshing our assets over time to minimise the impact on our customers and team.”

“After all, that’s who BCU is built for.”