In the wake of M&A and shifting market demands, financial institutions pursue greater growth and renewed relevance
A wave of renaming and rebranding is moving across the banking industry as institutions strive to redefine their market positions and remove barriers to growth. From select group credit unions expanding their audiences to banks reintroducing themselves after restructuring, institutions are embracing brand change as a strategic reset. As competition rises all around and consumer expectations evolve, a refreshed identity signals a spotlight on brand resonance and strengthening connections. “Consumers are different now,” says Juliet D’Ambrosio, Chief Experience Officer at Adrenaline, in the Financial Brand. “Brands need to be able to adapt.”
Since 2000, financial institutions rebrands and renames have taken off, with more than one-third of banks and credit unions undergoing brand transformation, according to data outlined by CUInsight. This momentum is a clear sign that brand change is not a surface-level shift, but a strategic priority and a business imperative. “A rebrand isn’t just about aesthetics – it’s an opportunity to deepen customer engagement,” according to Financial Institutions’ Guide to Rebranding on eMarketer. “Financial institutions use these transitions to reconnect with customers through personalized outreach, enhanced digital experiences, and marketing that reinforces their evolving identity.”
Recent rebrand examples underscore the pace of activity and the role of strategy. In late 2023, New York Community Bancorp adopted the Flagstar name following a successful acquisition. Soon after, a massive branch network conversion took place, transforming 469 branches across 17 states. More recently, Sandia Laboratory Federal Credit Union rebranded as Sunward, moving away from its localized identity and supporting expansion across the state, similar to what Civic Credit Union did in North Carolina. For many, legacy names with finite scope don’t support larger goals. For them, rebranding is a tool signaling broader reach and strategic evolution.
“When an institution comes with a growth challenge, it’s likely their brand that’s holding them back,” says Gina Bleedorn, President & CEO of Adrenaline in the Art and Science of Naming for Banking Brands. “And rebranding helps them break free from those limitations.” Breaking free means using rebranding to support broader business goals, reflecting a more integrated view of brand as a driver of business performance. Findings from Adrenaline’s ROI of Rebranding Report reinforce this connection, with 86% of surveyed financial institutions reporting that rebranding – and in many cases renaming – had a positive impact on their organization’s overall value.
If you’re a banking leader looking for effective brand and marketing strategies, get in touch with the brand experience experts at Adrenaline. Follow Believe in Banking to stay up to date with the latest news impacting the banking and credit union industries.