Glen Rock Savings Bank was a 4-branch community bank which served the personal and commercial banking needs of northern New Jersey customers since 1922. In 2021, management recognized that it needed to refresh its brand identity and reposition itself for future growth to remain competitive.
The re-brand from Glen Rock Savings Bank to Ascendia Bank was made, in part, due to the geographic expansion of the Bank’s footprint, well beyond its Glen Rock-area roots. In addition, the Bank wanted to communicate a fresher, more forward-leaning brand image since it has added a range of products and services that are essential in today’s fast-paced economy.
Based on our deep financial marketing expertise, Turchette was tasked with re-branding the Bank from top to bottom – developing a new name, logo, tagline, brand guidelines, website, collateral, branch signage, 100th anniversary and rebranding celebrations… a complete overhaul.
Once the Bank’s new brand identity was approved, Turchette created a comprehensive customer communications program announcing the re-brand, a more modern, mobile- and user-friendly website [www.ascendiabank.com] and a robust advertising and PR campaign to increase awareness and brand engagement.
The goal was to to help attract younger customers, expand the Bank’s customer base geographically, and increase deposits. With that in mind, our ad campaign included a multi-channel digital marketing program (social ads, digital ads, and emails), print ads, local TV spots, event and ethnic marketing, statement messages and numerous product-focused promotions.
THE RESULTS
Right out of the gate, the Bank felt the benefits of the re-brand. Combined assets increased by 13% over prior year resulting from numerous centennial promotions. For example, its three-tier Centennial Money Market campaign yielded $1 million per day in new money deposits and 22 new accounts were opened during a 3-hour event, approximately 68% of which was new money.
