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Complicated process leads to ‘Life Simplified’
By Jessica Johnson
Contributing Writer
It took years before South Carolina Federal Credit Union felt comfortable rolling out its new brand.
First came a corporate structure change and then came a study of members before the new brand creation was complete. Although the re-brand came in the credit union’s 70th year, that’s just coincidence, said Scott Woods, SCFCU’s president and CEO.
“We see this as something we’ve been building up to,” Woods said.
The credit union launched an internal quality initiative in 1999.
“We began changing the thought process in the company on how to rally around a single point,” Woods said.
The company has evolved to a point where it could back up its new brand promise 100%, he said.
On Oct. 16, the credit union, which boasts a membership of 140,000, announced its new brand: “Life Simplified.”
“It takes a corporate culture change to be able to support that,” Woods said. “We have the right people on board who are ready to take South Carolina Federal Credit Union to the next level by making a brand promise we feel we can live up to.”
During the creation process, the credit union controlled the branding; now, according to Woods, the “Life Simplified” message controls the financial institution.
When a new service or product is suggested, Woods said, employees ask themselves one question: “Does this simplify our members’ lives?”
The institution developed brand ideas through a series of focus groups with members and non-members. What stood out after several meetings was that people thought the credit union’s branches were easy to do business with, Woods said.
It’s also a coincidence that the credit union launched a new brand in a time when an increasing number of financial institutions are competing for
Lowcountry customers.
“We consider ourselves the leading financial institution in the Charleston market,” Woods said.
While he is aware of competition from the new banks, he said it is part of the duty of the institution to constantly look for ways to better serve its members.
The new brand will be followed by increased business services, including new lending options for small businesses. The credit union will also expand its boat loan operations through dealers.
Advertisements featuring the tag line “One Step Ahead” are meant to boost recognition of products and services among current and prospective members.
“A lot of people don’t know we are one of the leading new car financers in each of our markets,” Woods said.
S.C. Federal has opened new branches in Moncks Corner and Columbia and has purchased former branches of Heritage Trust Credit Union. New branches will open in Summerville and near Carnes Crossroads in third quarter 2007. S.C. Federal is also expanding its main office on Rivers Avenue in North Charleston, with construction set to begin in January.
Current and new branches will feature a tweaked logo and signage, but will keep the palmetto tree from the former logo.
Through its focus groups, S.C. Federal learned that nearly half of prospective members were not aware they could join the credit union.
“That is a tragedy. A lot of folks think there are barriers,” Woods said.
When credit unions first got their start, often membership was linked to a common bond of employment. In recent years, however, the field of membership tends to be geographic.
Anyone who lives, works, worships or goes to school in Dorchester, Berkeley, Charleston, Orangeburg, Clarendon, Calhoun or Georgetown counties, and most of the Columbia area, is eligible to join S.C. Federal Credit Union.
“Who doesn’t need some part of their life made simple for them?” Woods said.
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