Victoria Teachers Mutual Bank rebrands at height of Banking Royal Commission
Victoria Teachers Mutual Bank has changed its name in a bid to show itself as a more trustworthy financial services alternative during the Banking Royal Commission.
Now known as Bank First, the Melbourne-headquartered co-operative has unveiled a new logo and integrated campaign, although its tagline ‘Invested in You’ remains the same.
Created by by Melbourne agency 10 Feet Tall, the rebrand campaign consists of a one-minute commercial, plus ads in print and out of home.
The TVC depicts a teacher reviewing her loan application with a Bank First representative in a school hall. After appearing to query the teacher’s salary – or what she “makes” – the bank teller then stands up to reveal a host of people hidden behind the stage curtain.
As the people cheer, the teller says: “You make sharper minds, brighter futures and tomorrow’s leaders.”
Explaining the concept, 10 Feet Tall managing director Joseph Meseha said: “Bank First is quite unique in that they genuinely value peoples’ contribution to the community, well beyond the dollars and cents banks ask you to fill in on an application form.
“It’s those eight little boxes that banks use to judge your worth, however Bank First knows that what their customers do goes well beyond this.”
When asked whether the bank rebrand was deliberately timed with the Commission – an ongoing investigation into whether Australia’s financial institutions have engaged in misconduct – Meseha said campaign work began 18 months ago, but that its release timing was “opportunistic”.
He said: “There are a lot of people out there who are disgusted with the banks and so there’s a chance to show a better alternative with mutual banks. It was a good time to reconsider the need for privatised banks and mutual banks are poised to be more trustworthy.”
Adam Alsbury, chief strategy and marketing officer at Bank First added: “Banking is in the news every day and consumers quite often feel powerless in their dealings with the big banks. With a history of putting our customers first and reinvesting profits into better products and services, we provide a real alternative to the Big 4.
“As a bank that was founded by a group of educators, we have always valued what our customers do for the community – not just how much they make – and it’s this insight that sits at the core of our new platform ‘We value what you really make’.”
Credits
Client: Bank First
Chief Strategy & Marketing Officer: Adam Alsbury
Head of Marketing: Jade Maletsky
Senior Marketing Coordinator: Melissa Freeman
Agency: 10 feet tall
Managing Director: Joseph Meseha
Creative Director: Stuart Black
Strategy Director: Magnus Nilsson
Art Director: Matt Toebelmann
Design: George Kalogerakos
Client Services Director: Pia Moore
Production Company: Eight
Director: Florence Noble
Executive Producer: Dan Higgins
Too staged. Would have been more believable if they used a real teacher being reunited with real students
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