Teachers Mutual Bank
Transforming a Credit Union to a Bank
Background
In October 2011, Teachers Credit Union (TCU), Australia’s third largest credit union with over 155,000 members and assets of over $3.5 billion, appointed Traffic to manage their brand transformation to Teachers Mutual Bank in a volatile financial marketplace with the big four banks jockeying for dominant positions.
Strategy
Transforming Teachers Credit Union into a retail bank meant the removal of the ‘mutuality’ mindset from the organisational and operational culture of the new bank. The move into mainstream banking required a more agile culture and customer experience but maintaining the personalised service that members loved.
Solution
The new Teachers Mutual Bank logo – the aim was to differentiate TMB from all other banks and convey a warm and welcoming personality. It shows a smiling face. It was designed to capture the feeling of new TMB members and represent their satisfaction with the new banking experience. This was supported by the positioning line “We put you first”, which recognises the original Teachers Credit Union philosophy – created by teachers for teachers. In 2017 Teachers Mutual Bank is now ranked #8 in Australia.
