New campaign focused on financial education
PHILADELPHIA, Pa., October 14, 2013 – Beneficial Bank, the oldest and largest bank headquartered in Philadelphia, announced the launch of an expansive integrated marketing campaign and brand refresh designed to highlight the bank’s commitment to financial education. Along with the introduction of a new ‘Your Knowledge Bank’ tagline, the campaign itself is part of an ambitious communications initiative rooted in what has always been the core mission of Beneficial Bank – to provide customers with the tools, knowledge and guidance to help them do what’s right and make wise financial decisions.
“We want to fundamentally shift the way people interact with their bank,” said Joanne Ryder, Executive Vice President and Director of Brand & Strategy at Beneficial Bank. “By speaking directly to our customers, engaging in a conversation about their particular life stage and discussing their options, we’re empowering them to take control of their financial future. There is a big difference between being financially literate and financially fluent, and with increased knowledge comes increased opportunity.”
In an effort to cut through the clutter of traditional bank advertising, the new campaign uses a mixture of education and humor to underscore the complicated and often confusing modern financial world. While terms like “escrow” and “revolving debt” may be clear to some, many banks don’t take the time to properly explain what various financial options involve, resulting in agreements customers don’t fully understand. Beneficial Bank instead relies on an environment of open dialogue they call “The Beneficial Conversation,” a discussion based on listening to customer needs rather than pushing banking products, thus creating a more substantial and mutually successful relationship.
“We offer the same advantages of the big banks, but with an added personal connection that comes from speaking with someone who truly cares about your financial well-being,” continued Ryder. “While the evolution of banking technology may allow customers to bank more conveniently, it should never come at the price of anonymity. Our customers come first and we’ll always be there to teach them everything they need to know so they’re better prepared to make smart decisions.”
In 2013, Beneficial Bank was awarded “Highest Customer Satisfaction with Retail Banking in the Mid-Atlantic Region” by J.D. Power & Associates. Following a survey of more than 50,000 consumers covering various aspects of their banking experience, Beneficial ranked highest in the Mid-Atlantic region and performed particularly well in the product offerings, account information and channel activities factors.
In addition to recently updating its online and mobile banking products, Beneficial Bank has also transformed the in-branch customer experience, building innovative campuses that are not only full-service banks but also communal hubs for area residents. Complete with a learning library, free coffee bar, iPad stations and conference room space (among other features), these environmentally-friendly campuses are meant to provide a location where people can gather to interact and learn about their finances in an inviting space. All branches and campuses will be updated to reflect the brand refresh, with events planned in Philadelphia, New Jersey and the surrounding suburbs to involve the entire community in the celebration.
Beneficial Bank has long been a staple of the Greater Philadelphia Region and remains active within the communities it serves. Last year alone, bank volunteers dedicated over 3,400 service hours – conducting financial literacy workshops in low-income communities, serving meals to the homeless, working with neighborhood non-profits, and running holiday toy and food drives.
To learn more about Beneficial Bank and the brand refresh, begin a conversation at: www.facebook.com/beneficialbank. For more information or to find a local branch, please visit: www.thebeneficial.com.
About Beneficial Bank
Founded in 1853, Beneficial Bank is the oldest and largest bank headquartered in Philadelphia. It is a knowledge bank – a full-service financial services company focused on financial education that has served individuals and businesses in the Delaware Valley for 160 years. With more than 60 offices in the greater Philadelphia and South Jersey regions and approximately $5 billion in assets, Beneficial offers a full array of financial products that includes commercial, consumer and real estate lending, insurance and wealth management. Visit www.thebeneficial.com for more information.