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Canadian-based Lakewood and Kenora District credit unions are merging under the new name “Copperfin.”
Last week, the members of both credit unions voted overwhelmingly in support of the merger.
The new Copperfin website touts the merger’s benefits and explains the name change. The homepage takes a creative slant on the merger:
BETTER TOGETHER.
Starsky and Hutch. Peanut butter and jelly.
Lakewood and Kenora District.
Some things just work better together.When you put two great things together, you get something even better.
It’s about synergy. It’s about community. Most of all, it’s about solutions.
That’s why Lakewood Credit Union and Kenora District Credit Union
have joined to become Copperfin Credit Union.
Copperfin’s new design style is both distinct and refreshing, representing a big visual upgrade in the two credit unions’ brand identities.
The new slogan is “Enjoy life’s possibilities.”
Copperfin falls under the same category of financial names as Red Canoe. These kinds of names are highly unique and creative, they are very trademarkable, and totally unforgettable. Both Copperfin and Red Canoe are the work of Weber Marketing Group, arguably the country’s leading financial naming firm.
Some people have complained that such names make no sense for a financial institution.
Key Question: Who says what a financial name should- or shouldn’t sound like?
Reality Check: There are no rules. If there are rules, they will be summarily ignored by breakthrough brand builders.
Before you rush to criticize a name like Copperfin, just remember: Many of the world’s most successful brands have names that — on the surface — make absolutely no sense at all: Old Navy, Starbucks, Gap, Apple, Virgin.
Key Insights: Name changes are subjected to a level of scrutiny that existing brands never endure. There’s something irresistable about comparing an old name to a new name. And generally speaking, people don’t like change.