BROOKFIELD, Wis. – Landmark Credit Union has introduced what it is calling a “refreshed, simplified brand look and philosophy that supports the desire for a clearer and more convenient banking experience.”
In conjunction with the update, Landmark also released the results of research it commissioned to learn more about Wisconsinites’ relationship with money and their viewpoint on today’s banking process, saying the results suggest its “Banking Made Easy” approach will “hit the mark for current and future members.”
“Put simply, ‘Banking Made Easy’ means less jargon, clearer explanations and quicker processes, like opening a checking account in less than five minutes,” the $6.2-billion Landmark CU said. “It also means there are no hidden account fees and plenty of options to manage finances. All of this and more is available to Landmark Credit Union members, and it’s easy to get started with just $5.”
As part of its refreshed brand identity, Landmark CU has introduced an updated logo, a modified color palette, and a new creative campaign and website.
Specifically, the credit union said of the components:
- Simplified Logo. “The trusted Landmark name is updated within the logo to better represent the simplified approach to the banking experience. And different shades of blue modernize the look.”
- The Landmark Lighthouse. “Also simplified in its look, the lighthouse continues to be a key fixture, representing strength, safety and guidance on a financial journey.”
- New Website. “In addition to the brand evolving, so is the Landmark Credit Union website. In the spirit of “Banking Made Easy,” it’s more user-friendly and transparent, while featuring new information and functionality.”
What Survey Discovered
In addition, Landmark reported it conducted a survey of 500 Wisconsin residents that revealed three types of money managers, each characterized by their financial habits.
Those character types include:
- The Trackers (23% of respondents). “As the name suggests, these individuals are highly involved in their finances, with nearly a third indicating they check their account balances multiple times per day and another third checking daily,” the credit union said. “No surprise that 95% of Trackers were very confident knowing just how much money they spent last month on life’s expenses.”
- The Estimators (60% of respondents). “This group is comfortable estimating approximately how much money is coming in and going out of the household,” according to Landmark. “They are not as concerned as the Trackers about knowing the exact amount. Since an estimate will do, this group checks their account balances two or three times per week and the majority (68.7%) are at least fairly confident in knowing how much they spend on monthly expenses.”
- The Spenders. (17% of respondents). “The Spenders take a much looser approach to money management even though approximately 78% indicated their financial situation controls their lives. The majority of this group (nearly 70%) admits to going on spending sprees and more than 30% rarely, if ever, contribute to any form of savings account.”
A Common Response
Regardless of the type of money manager, Landmark said there was a common response when it came to how banking was viewed. The credit union said it found the majority of all survey respondents (77%) agreed that banking products should be easier to understand and nearly 64% felt there is a lack of transparency around banking products and services.
"We’ve been providing great rates, low fees and excellent service to members for 90 years and have offerings to help support each style of money manager,” said Brian Melter, chief experience officer, in a statement. “We believe everyone should experience and expect more transparent and direct explanations and conversations about financial products. We’ve modernized our technology and related services too – all to deliver a friendlier and easier banking experience. We’ll continue to strive for an easier way to get things done for current and prospective members. After all, the survey confirmed the communities we serve want that too. We are committed to delivering on the ‘Banking Made Easy’ concept and will carry that into the future for our members and associates.”
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