Vancity Community Investment Bank (VCIB) is a subsidiary of the Vancity parent company – BC’s leading credit union and is 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.
A relative newcomer to the world of financial institutions, VCIB has two main communications challenges:
- Building a reputation for VCIB as Canada’s leading business bank, highlighting VCIB’s commitment to finance a sustainable tomorrow.
- Creating 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).
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.
As a result, Yulu is working 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 has created a detailed roadmap for the next 12 months, highlighting where and when VCIB needs to be showing up to increase brand awareness with its key target audiences.
Messaging is also central to tackle VCIB’s second challenge – creating a distinct and separate identity for VCIB from its parent company. Yulu is prioritizing securing media briefings with key journalists in target publications to allow VCIB spokespeople to explain exactly what VCIB is and why it is unique. Rather than stressing points of difference, media briefings concentrate on the positive impact of VCIB – this approach both educates journalists while also establishing long-standing media relationships for the bank.
The Results & Impact
In the past few months alone, Yulu’s media coverage for VCIB has reached an audience of over 160 million. Coverage has been featured in key national outlets, including the National Post and the Narwhal, as well as key financial trade outlets.