LONGVIEW, Wash. — Now vindicated in its pursuit of a controversial name change, the staff at the $423 million Red Canoe Credit Union was celebrating a sweet victory last week from peers.
The achievement: capturing all the top marketing medals in its size category at an awards dinner during the Washington Credit Union League's annual convention.
"I'm very proud of the fact that we knew from the start our name change would come in for criticism, but we did it right to prepare the membership and the media," declared Amy Davis, vice president of marketing at the old Weyerhaeuser CU which last January switched to the new moniker.
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The Longview CU picked up six top awards plus two honorable mentions at the league's Spectrum Awards Dinner Sept. 12 in such categories as top newsletter and annual report, best example of rebranding and outstanding TV broadcast.
For weeks in late 2006 and earlier this year, the "Red Canoe" name drew sharply negative reaction from some members and snide comments from media scribes who ridiculed the CU for adopting "a silly, cute name with no financial connection."
Management of Red Canoe, however, persevered, said Davis, confident that eventually the name would be accepted "though we knew it would be a difficult, raw transition since we were so closely identified with Weyerhaeuser."
It was a big change, "a drastic left turn" for the public to accept, said Davis but if the message was carefully controlled the name change flap could be overcome.
As it turned out, she said, the name change "turned out to be an industry issue" in the nearby Seattle market where one well-known newspaper writer devoted a whole column to CU and bank rebranding.
Red Canoe with four branches plans to add two more in 2008 in Kelso and Puyallup, she said.
All in all, "it was an amazing journey for a very talented team," said Davis who also credited Weber Marketing Group, the Seattle agency which helped craft the Red Canoe branding.
The "red canoe" name is linked to Weyerhaeuser, the giant wood products firm, and has worked well, she said, in conjuring up a positive financial message of "a smooth journey and rich tradition."
The canoe represents a "vessel of choice offering a smooth ride rather than whitewater rafting," she said adding also that it provides a generational, family theme as well since "all the family members ride together in a boat."
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