
Background
Woodstone Credit Union was established in 1941 to serve Weyerhaeuser employees. In 2003 the charter was changed, opening the credit union to anyone in the state of Washington and requiring the brand to compete for space in an over-crowded pool of financial service providers.
Challenge
With limited resources and massive competition from aggressive national banks, Woodstone was challenged to make their brand work harder, "turning marketing dimes into marketing dollars."
Stoke initiated consumer research as part of a comprehensive strategic assessment. A set of recommendations was developed aimed at creating a signature customer experience, and increasing awareness with clear brand differentiation based on a relationship with members.
Outcome
Working with the un-changing position of "Where Relationships Mean More," Stoke developed an invitingly fun and timelessly designed tandem bicycle. Woodstone adopted the tandem bike as a surrogate identity for the brand.
This strong visual association – the "bikon" as it endearingly became known – reinforces people working together in common purpose towards a shared destination.
Custom-painted tandem bikes are featured prominently in all consumer touch-points, including retail environment, digital media, all print communications, signage, advertising and grass roots marketing initiatives.
"Everything is looking great for the new brand. All the signage and posters are up in the branches. We're very proud of our new look and messaging and have received multiple compliments from members and from vendors and others that see it. I love it and so does our staff. Stoke – literally – did award winning work for us. We truly appreciate all that they have done and know they went far and away - above and beyond," said Donna Meyerhoff, Director of Marketing for Woodstone Credit Union.
In 2010, the initiative was recognized with a Diamond Award, the highest national design award for the credit union industry.