Vancity Community Investment Bank (VCIB) is a subsidiary of the Vancity parent company – BC’s leading credit union known for its purposeful and innovative approach to retail banking. An Ontario-based schedule 1 chartered bank (not a credit union), VCIB is a distinct and separate organization providing commercial banking services to businesses. But more importantly, VCIB is a values-based bank committed to using the tools of finance to drive long-lasting social, environmental and economic change in the communities in which it operates.
Put simply, VCIB wants you to bank on the change you want to see in the world.
The Challenge
As a trailblazer in the world of purpose-driven financial institutions, it was up to Yulu to build a reputation for VCIB as Canada’s leading business bank, highlighting VCIB’s commitment to finance a sustainable tomorrow. We also created a separate and distinct brand identity from Vancity (while still being able to leverage the credibility and brand engagement that comes from having a famous parent).
The Strategy
What continues to separate VCIB from other banks is that it is Canada’s first and only values-based bank, and this ongoing commitment to leading with values is central to Yulu’s strategy to build VCIB’s reputation as Canada’s leading financial institution for businesses.
Yulu worked with VCIB to refine and hone its thought leadership strategies and key messaging, prioritizing the impact outcomes and working to quantify how VCIB financing (loans, impact investment funds etc) are creating real change in its communities. Yulu also created a detailed roadmap for the next 12 months, highlighting where and when VCIB’s presence was most needed to increase brand awareness with its key target audiences.
Messaging is central to the creation of a distinct identity for VCIB, separate from its parent company. Yulu secured media briefings with key journalists in target publications to allow VCIB spokespeople to explain VCIB and what makes it unique. Rather than stressing points of difference, these media briefings concentrated on the positive impact of VCIB – an educational approach that also established long-standing media relationships for the bank.
The Results & Impact
Yulu’s media coverage for VCIB has reached an audience of over 400 million. Coverage has been featured in key national outlets, including the National Post and the Narwhal, as well as key financial trade outlets.
