The Co-operative Bank launches brand campaign ‘#BankBetterNZ’ via FEDERATION

As part of a broader initiative to rejuvenate its brand, The Co-operative Bank has recently launched a new advertising campaign and long-term challenger brand platform named ‘#BankBetterNZ’, in collaboration with New Zealand independent agency FEDERATION.

A fully-integrated launch campaign includes Television, Online/Digital, Out-Of-Home, and Social Media advertising. The TV spot sees Anna, a New Zealand banking customer, during a moment of realisation that her bank happily uses her money to make money, but doesn’t share the profits with her. ‘’What’s up with that?!’’ quizzically asks the voiceover.

The OOH is strikingly simple, designed to grab New Zealanders’ attention by playfully questioning the status quo of New Zealand’s banking category. 

The creative strategy for launch encourages New Zealanders to consider whether the country’s banking category is really “a bit upside-down’’. Unlike other banks in New Zealand that are often owned by overseas entities, The Co-operative Bank is owned by its customers – who are the bank’s shareholders. It is the only Aotearoa bank that shares profits with customers, and since 2013 has shared more than $ 20m in rebates.

Independent agency FEDERATION was appointed agency of record for The Co-operative Bank in April this year after a competitive pitch. The agency’s new creative work spearheads what will ultimately be a multi-year growth strategy for the B-Corp certified bank, with an ambition to lead in customer service and value, aligning to the ‘Bank Better’ platform. 

“We’re thrilled to be working with FEDERATION on this major new evolution for our brand, which is part of an ambitious plan for our overall growth which benefits both our customers and the co-operative,” Catherine Bateman, Chief Marketing Officer, The Co-operative Bank, says.

“The Co-operative Bank has a genuine point of difference at a time when consumers are questioning the role of banks in their lives. Because we’re customer-owned, we believe we have a better banking model that works alongside customers and supports them to achieve greater financial security. We aim to become the bank of choice for New Zealanders wanting to bank better, and we’re excited about what this brand platform signals for the future.”

FEDERATION Managing Partner, Olly Walker-Boden, adds: “The platform is ambitious and challenging – for the NZ public and for the bank itself. Whilst asking Kiwis to take a look at The Co-operative Bank, it also asks that The Co-operative Bank then lives up to the promise of what it is to ‘Bank Better’. Our creative process has been extremely collaborative and we’ve met a huge number of staff along the way, from all corners there’s such a genuine and unwavering belief in the brand’s mission to lead positive change alongside customers.”

Walker-Boden adds: “The intention is for ’#BankBetterNZ’ to endure, and the launch creative introduces some long-term visual identity changes to achieve differentiation vs. competitors. For example, we’ve simplified codification of the colour palette and given the prosperity loop logo a stronger presence with the addition of sound and animation.”

Sharon Henderson, CEO of FEDERATION, says: “We think the Co-Operative Bank is genuinely a hero among banks in New Zealand today, with its inspiring, purpose-driven vision that taps into the fairness that people are really looking for in their bank. Our challenge was to ensure the progressive and people-centric brand proposition of The Co-operative Bank was reflected in a modern, category-disrupting new brand platform, and a campaign with longevity.”

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