Financial institutions use mascots to create a fun, festive presence at events like parades, fairs and branch grand openings. Many banks and credit unions have created mascots to support their kids clubs/accounts, notably Harris Bank’s widely loved Hubert the Lion. Sometimes these mascots transcend their original purpose and can wind up being the spokesperson for the entire organization, making appearances in nearly every single ad and marketing piece.

Financial institutions pick some predictable characters to reflect a fairly standard range of personality attributes — friendliness, strength, wisdom, etc. Dogs and lions are the most common creatures chosen for bank mascots, however other animals like eagles, owls, tigers and bears are used as well. There are a few exotic — even mythical — creatures used as bank mascots, including a whale, dolphin, hippopotamus, rhinoceros and a dragon. Some banks create costumes out of their logos, while plenty of others choose the hackneyed piggybank concept.

Does your financial institution need a mascot? Doubtful. If you’re extremely active in the community and sponsor a lot of events every year, then perhaps a mascot character could help you maximize your investment. But be careful with the design process. Put a lot of thought into what will best represent your organization and its values. And whatever you do, don’t cut any corners. Most financial institutions with a mascot are already at risk of looking pretty hokey and stupid… a cheap suit is sure to cinch the wrong image in consumers’ minds (as the last costume in this article does).

RBC – Leo the Lion

PNC Bank – Linky

US Bank – Captain Shield

Bendigo Bank – Piggy

Key Bank – Key

Chase – Chase the Dog

Harris Bank – Hubert the Lion

ABSA Bank – Piggy Bank

Ulster Bank – Henry the Hippo

St. George Bank – Happy Dragon

Commerce Bank – Mr. C

Metro Bank – Metro Man

Bank Atlantic – 7

Maybank – Yippie

Nittany Bank – Nookie Monster

County Bank – Buck

Piedmont Community Bank – PC Bear

Butterfield Bank – Vern

Waukesha State Bank – Friendly the Eagle

Nadra Bank – Whale

Wells Fargo – Jack the Dog

In gold rush days, Wells Fargo agents sometimes had dogs to help guard Wells Fargo treasure.
This dates back 143 years, accompanied by the motto, “Alert & Faithful.”

Andhra Bank – Dolle the Dolphin (India)

DiBa Bank – Otto the Rhinoceros

Unknown Bank – Lion Suit

Norwest – Barney the Snowman

Citizen’s Bank – Logo

Trademarked red ‘M’ triggers lawsuit

Two Pennsylvania financial institutions will square off in court over who can — and can’t — use a big, red “M” in their logo. In a court filing, Members 1st FCU is accusing Metro Bank of trademark infringement over its use of an “M” monogram that the two companies currently share as their logo.

Members 1st says it’s been using its current red “M” logo since March, 2003, and received a federal trademark protection on its logo from the USPTO in January, 2006. Metro Bank debuted its new red “M” just last month.

In its filing, the credit union asserts Metro Bank adopted the M logo “in an effort to capitalize on Members 1st’s goodwill and thereby obtain a competitive advantage.”

Keep in mind that both these financial institutions share the same service areas in Pennsylvania.

In an article about the lawsuit, Members 1st spokesman George Nahodil said the two logos are so similar that the credit union has learned of cases where a Metro Bank customer came into a Members 1st branch, thinking he or she was in a Metro Bank. He said the credit union has also heard of Members 1st customers walking into a Metro Bank and thinking they were in a Members 1st.

“We’re significant players in the central Pennsylvania financial market. We felt we had to defend our logo and our brand,” Nahodil told the Patriot-News. The credit union has $1.5 billion in assets and well over 150,000 members.

The big red “M” isn’t the only trademark trouble the folks at Philly’s Metro are facing. Last November, The Financial Brand noted the serious potential trademark problems posed by the Metro name itself.

Metro Bank was created when Pennsylvania Commerce and nearby Republic First agreed to merge and change names late last year. The problem is that there were no fewer than four other banks who were already using Metro before Pennsylvania Commerce + Republic First chose it as their new name.

People frequently — and incorrectly — assume that it’s okay for an organization to use a name as long as no one else in their market is already using it. Wrong. A bank 3,000 miles away with only one branch and $10 million in assets can stop you dead in your tracks… provided they have secured a federally registered trademark from the U.S. Patent & Trademark Office.

Bottom Line: Picking something similar to what someone else in the financial industry is already using…

1. Doesn’t differentiate you, which undermines your brand.
2. Can get you sued, costing you a truckload of money. And then you’ll have to start from scratch… which will cost a second truckload of money.

If you haven’t yet taken to heart The Financial Brand’s advice about protecting your financial institution’s brand assets, what are you waiting for? A lawsuit? You should contact a trademark attorney immediately and talk about (for starters) registering your name, logo and slogan with the USPTO.

Okay, sorry, this gets a little complicated. There was a Commerce Bank in New Jersey. But earlier this year, TD Banknorth took them over. That merger created a huge naming hassle — including a lawsuit from a Commerce Bank in Massachusetts — over the Commerce name. In the end, the Massachusetts bank prevailed, preventing the Canadian behemoth from using TD Commerce, the name it preferred.

Now, a Commerce Bank — this one in Pennsylvania — is merging with Philadelphia-based Republic First Bank. These newlyweds are opting for Metro Bank as their new name. The combined company will have total assets over $3 billion and more than 1,200 team members. The company will pursue an aggressive growth strategy with new stores in Central Pennsylvania, Southern New Jersey and other markets.

The trouble is, there is already a Metro Bank in Houston. And one in Alabama. And another in Florida. Oh yeah, and one more in Georgia.

A collection of Metro Bank logos from various financial institutions from around the country.
Notice the use of circles containing an ‘M’ or ‘M’ symbol in each of the logos.

But wait… There’s more.

There’s also a First Metro Bank in Alabama, an American Metro Bank in Illinois, and a US Metro Bank in California.

Reality Check: You shouldn’t use another bank’s name — ever.

1. 

   It doesn’t help differentiate you.

2. It makes it harder for people to find you online.
3. It exposes you to all kinds of legal problems over trademarks.

Contrary to popular belief, it doesn’t matter if the bank is in another state. If you pick a name identical to another financial institution, you’re opening yourself up to a world of legal hurt. It doesn’t even have to be identical, as was the case with TD Commerce.

Bottom Line: If your bank or credit union is considering a name change, avoid new names that sound safe and familiar. Avoid them like the plague. It takes less than 5 minutes in Google to see what kind of trouble you can expect.