Case Study: LA Financial Credit Union
Positioning a 90-year-old credit union for growth
Services: Brand Strategy
The Challenge
LA Financial is a midsize credit union that has served Los Angeles County since the 1930s. With the goal of increasing and expanding its membership base, the leadership team brought in me and my research partner, Melanie Richards of Thought Catalyst, to help identify and better understand their target market and evolve the credit union’s brand strategy to set it up for growth.
The Solution
Internal + Market Research
We started our research and strategy work by interviewing those who know the credit union best – employees and board members – doing a deep dive into the Los Angeles market and how it’s changing, and conducting a landscape study looking at both competitive and comparative brands.
Member + Prospective Member Research
Using what we discovered during our internal and market research, we designed and executed in-depth interviews and a survey with both current credit union members and prospective members. The insights we uncovered informed the development of four prospective member personas representing the credit union’s path to growth.
Brand Strategy
In close collaboration with the LA Financial team, we developed a new brand strategy for the credit union that both felt true to the 86-year-old organization and would also resonate with its four prospective member personas. Using David Aaker’s Brand Vision model, the strategy defined an inspiring yet achievable brand promise detailing what the organization stands for and the unique role it aims to play in the lives of its members, as well as unique guiding principles to help every LAF team member – from retail to marketing to finance to product development – to deliver on that promise.
The Result
We packaged the research highlights, personas, and brand strategy and positioning into a comprehensive brand book that’s been shared and socialized with every LA Financial employee. It’s also being used to guide marketing efforts, further facilitate team alignment, design new financial products and services, and strategically plan for the organization’s future.
“Tavaner added immense value by guiding us through telling our brand story (based in research) and creating focus for the organization, which clarified priorities for the marketing department. On top of that, Tavaner is a wonderful, collaborative partner – from strategic conversations all the way through to delivery.”
— Amanda Singh, VP of Marketing, LA Financial