CUA says get the most out of life in the new ‘Life rich banking’ campaign via Clemenger Brisbane

CUA, Australia’s largest customer-owned financial institution, has launched a new brand positioning – ‘CUA: Life rich banking’ via Clemenger Proximity, Brisbane.

Says Chris Whitehead, chief executive officer, CUA: ‘Life rich banking’ is at the heart of what CUA is about, assisting our customers to enrich their lives through delivering consistently better- value banking.

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“CUA helps our customers to get the most out of their lives by designing every product and service to help leave them with more money in their pockets.

“One of CUA’s key differentiators is the ability to take the money that otherwise would be paid as dividends to shareholders, and use it instead to offer better rates and lower fees.

“We are about providing our customers the opportunity to have less worry, and being free to make the most of all that life presents.”

CUA’s better-value products include home and personal loan packages which rate consistently better than the big four banks.*

Whitehead said CUA’s products are seeking to help address the needs of those Australians who in new research** responded they are worried about meeting loan repayments and also the increasing sacrifices which they need to make to pay off a home.

Says Whitehead: “The research shows that seven out of ten people who are considering taking out a home loan in the next twelve months are worried about being able to make their repayments and believe they will have to make sacrifices to meet repayments.

“Almost nine out of ten people with a home loan said they are making sacrifices to meet their repayments, with almost half this number making big sacrifices such as forgoing holidays, clothes, new cars and entertainment.

“CUA is lessening its customers’ financial burden with products such as the Ratebreaker package, which currently maintains a discount of one per cent to the average of the big four bank’s Standard Variable Home Loan rates. Based on this current discount, an average calculation sees customers potentially saving around $1,200 per year.

“When asked what they would do with an extra $1,200, Australians surveyed mentioned saving the money, putting it into the mortgage or taking a holiday.

Mr Whitehead said the new brand positioning and products such as the Ratebreaker are just the beginning.

Says Whitehead: “CUA is always looking for ways to deliver a better banking experience for our customers. We decided to include the word ‘banking’ in CUA’s new tagline because it describes what CUA does. It rightly positions CUA as a credible alternative to the ‘big banks’, so more people can discover the CUA difference.

“Life rich banking’ is a distinct turn of phrase, and a unique positioning for CUA. In undertaking research as part of the development of the brand positioning, people told us it made them feel good, stop and think and be genuinely inquisitive about CUA.”

Says Vanessa Brennan,Clemenger Proximity Brisbane managing director: “Clemenger Proximity is delighted to work collaboratively with an organisation like CUA to create and contribute to a new brand positioning strategy, which is aligned to their core values and helps the market understand what CUA has always been about.”

* Canstar, April 2014

** Research commissioned by CUA and conducted by Auspoll from a nationally represented survey covering 2,114 Australians 18+ for the survey period 25 March – 7th April (inclusive).