THUNDER BAY – The more things stay the same, the more they change.
Bay Credit Union is the perfect example.
After nearly 75 years in business, the financial institution was looking for a new name, something to resonate with the people of Thunder Bay.
When all was said and done, they decided to rebrand with the same name – but a new message.
Armed with a new logo, BAY Credit union now stands for ‘Banking About You,’ a slogan credit union officials helps set them apart from more traditional banks.
Lynne Legros, the credit union’s CEO, said they felt they weren’t necessarily reaching the people they needed to reach.
“We were kind of in a silo, with the same membership we’ve had in the past. We know we have to grow, so the best way to grow is to approach the people who will help us grow and need our assistance for themselves,” Legros said.
“Banking about you, to me, means everything that I do, everything that we do, everything that I’ve ever believed in my life is to make sure that we’re doing the right thing for other people. It means to me that we don’t offer services just because it would make us a quick buck.”
Instead, Bay Credit Union offers services that will actually help people grow in their life and achieve their goals, Legros said.
“More or less we’re here to help people along the way,” she said.
“I’m hoping this gives us the ability to do that. We can’t just put this name up and stop there. We’re going to have to be working on the name the whole time.”
Richard Atkinson, former Bay Credit Union chair, said he thinks the new look and new outlook is brilliant.
“Geographically we’re on one of the most beautiful bays on the most beautiful lakes in the world and it’s wonderful that the name Bay is continuing. It’s a great acronym, banking about you. I suppose in the profit sector it would be BAG – banking about greed,” Atkinson said.
Bay Credit Union was founded in 1946 as the People’s Co-operative, switching to its current name in 1975.
Four years ago it merged with Apple Community Credit Union.