These brand ads for Continental Bank in Wisconsin encourage people to get a firm grip on their financial situations. Each ad relies on a carefully-crafted custom photo where someone is wrestling — literally — with some aspect of their financial life: a wallet, purse or checkbook.

The ads are ultra-simple in their message, supported by a strong, story-telling visual. There’s only one blurb of copy — the headline — that simply says, “Take control of your finances.”

The ads all bear a common logo block with the very clever tagline, “Money. Wise.”

Based on the age of the people used in these ads, it’s safe to assume they were squarely targeted at Gen-Y.

Key Question: How many people will relate to these ads because they feel like their financial situation is out of control?

This style of advertising is extremely popular with ad school grads, but not everyone is a fan.

The bank has 8 branches, but the ads only promote one: the main HQ branch.

Each of these photos probably cost around $10,000 each.
Scouting locations, talent, props, lighting, photographer, makeup, etc.
It all adds up fast.

Agency: Freight Train

The customers have spoken: ‘WaterStone’ it is.

Back in February, Wauwatosa Savings invited its customers to help pick a new name for the bank. Customers had the until the end of the month to choose between three semi-finalists provided by the bank’s management: ‘Granite Bank,’ ‘WaterStone Bank’ and ‘Security First Bank.’

(Previous coverage from The Financial Brand, including an explanation of why the bank changed names, here).

Linguistically speaking, the WaterStone name is strong. The “water” aspect of the name connotes “flowing abundance” and themes of nature. “Stone” suggests strength and stability. These are very positive associations in the financial services sector.

Combining the words “water” and “stone” into one word is cool, but the capital “S” in “stone” is a bit gimmicky. No biggie though. Everyone has to do what they need to differentiate. Right?

Especially when there’s three other ‘Waterstones’ already registered with the U.S. Patent & Trademark Office in Class 36 (for financial services). One company is in capital management, one in consulting, and a third providing benefit administration:

Key Questions:

• Will any of the existing ‘Waterstones’ with federally protected trademarks challenge the new Waterstone?
• The ‘WaterStone’ in Wauwatosa hasn’t applied for trademark protection yet, but if it does, will it trigger some sort of alarm with the other ‘Waterstones’ already on record with the USPTO?
• How would the USPTO and courts respond to a trademark challenge, especially considering the USPTO has already granted three separate registered trademarks to companies in the same industry?

Bottom Line: All risks aside, the selection of the ‘WaterStone’ name makes sense for Wauwatosa.

First of all, Wauwatosa Savings recently acquired a mortgage company with the Waterstone name, so they have some history (and legitimate claim) connected to the name.

Second, the customers made the right choice (I’m assuming the vote was fair, and the results can be inspected by customers). The other two name options were troublesome. ‘Security First’ is just plain bland, and ‘Granite’ does the same things as ‘WaterStone’ but without the “water” aspect of the name. ‘Granite’ also carries significant trademark risks.

At its website, the bank had yet to announce the winners of their naming contest. But standby, there’s a fair chance that they probably will.

Along with the new WaterStone name comes the tagline “It’s all here for you,” supporting the bank’s rebranding as a full service financial service provider in its communities.

The bank will officially become WaterStone sometime in mid-2008. According to the bank, they will most likely be changing the name of their holding company too.

Original Article by The Financial Brand here.

[UPDATE HERE]

Wauwatosa Bank is inviting its customers to visit branches and vote for their favorite name from three options: ‘Granite Bank,’ ‘WaterStone Bank’ or ‘Security First Bank.’ People also can submit other names by writing suggestions on their ballots.

Each ballot cast is an entry into a drawing with prizes worth a total of $3,000. Four separate winners will be awarded a 46” flat screen TV, a laptop, an interactive video game system package, and a $500 gift card.

On its website, the bank said, “We want you to be a part of our history. We invite you to share your opinion on a new name for the bank. To choose your favorite name, all you need to do is visit any of our branch locations and fill out a ballot.”

Customers can vote at any one of the bank’s eight branches before February 29.

“‘Wauwatosa’ does not define us, nor does it help us gain acceptance in a new community.”

Two years ago, Wauwatosa Savings was a traditional savings and loan institution, focused primarily on acquiring CDs and providing mortgages. Today, the bank is a full service financial provider. In addition, the bank added three branch locations since 2006.

The bank may expand further in its home state of Wisconsin and beyond.

Doug Gordon, president and CEO, said, “A name change is necessary to better reflect what we are now and what we plan to be in the future.”

This article says Wauwatosa Savings will join a trend among Wisconsin community banks eliminating geographic references from their names as they grow outside their original markets. They join Wauwatosa Credit Union who changed names just a few weeks ago to ‘Focus.’

All three options proposed by Wauwatosa Bank involve some degree of trademark risk. ‘Granite Bank’ and ‘Waterstone’ are both registered trademarks on file with the U.S. Patent & Trademark Office. Specifically, they are granted federal protection within International Class 036 which covers financial services.

The biggest problem with ‘Security First’ is the name’s ubiquity. There are literally dozens of ‘Security First’ banks.

According to this press release from the bank, Wauwatosa Savings acquired the ‘Waterstone’ name when it bought a local mortage company about a year ago.

Key Questions:

• How is the customer vote being audited for fairness? What if a customer objects to the vote’s outcome (because they don’t approve of the winning name)?
• Will the vote actually determine the winning name? Or will customer votes be used to gauge “customer preference?”
• Depending on which name prevails, will it be challenged legally.

Bottom Line: From a trademark perspective, ‘Waterstone’ seems to have the least risk. And the bank already has an existing relationship with the ‘WaterStone’ name. Nevertheless, the familiar sound of ‘Security First’ could prevail in a vote among customers. The trademark for ‘Granite Bank’ is locked up, so that would be a very risky move.

Tip of the Hat: To the PR firm, who got three…different…stories about the naming contest perfectly timed for release on the same day.

Update: Here.

From the bank’s website:

“Prosperan is a form of the word ‘prosper.’ It means to be successful or fortunate, especially in financial respects, to thrive and flourish. In Spanish it means, ‘all of us prosper.’ It communicates prosperity, growth and security and has an open meaning that allows it to be equally effective, engaging and communicative throughout the United States.”

Related article here.

This name resembles other players in the financial industry, Prospera Credit Union in Canada, Prospera Credit Union in Wisconsin, and Prosper.com, the peer-to-peer lending site.