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For South West Slopes Credit Union (SWSCU), a name change to SWSbank was a strategic move to stay competitive in Australia’s evolving financial services sector.
SWSbank, a customer-owned bank, has been serving the South West Slopes region of New South Wales since its founding in 1972. Known as South West Slopes Credit Union until 2024, the institution has long played a significant role in the local economy. Over the decades, the credit union grew into a vital financial provider for the region.
By the 1990s, SWSCU had solidified its reputation as a true banking alternative. The following decades saw major investments in digital banking technologies, leading to a natural progression towards a brand evolution as SWSCU approached its 50th anniversary in 2022.
Research revealed that newer generations perceived SWSCU more as a bank than a credit union—a term that has lost some relevance in Australia. Kate Slapp, SWSCU’s Senior Manager of Marketing and Engagement, says this insight was pivotal in the decision to rebrand.
“Our name change was instigated because research showed that fewer people, particularly younger generations, knew what a credit union was.
Given our business is banking, we wanted our name to reflect what we do.”
In 2024, SWSCU officially rebranded as SWSbank, complete with a fresh logo and a tagline that reflects who they are: “a bank for you, owned by you”. The rebrand coincided with the relocation of one of its flagship branches to a new, purpose-fit site - which served as the unofficial hard-launch of the new branding.
In rolling out the SWSbank name, the challenge was ensuring a smooth transition that upheld the integrity of the new brand while reassuring customers that, despite the new name, the bank remained the same with familiar people and services.
Ultradata has long been SWSbank’s trusted technology partner, providing a comprehensive financial technology ecosystem through the Ultracs Core Banking System. SWSbank also uses Ultracs CMS for its website and intranet, My Viewpoint 3 for Internet banking, and Ultracs App 2 for mobile banking. Recently, Ultradata integrated Open Banking Compliance Modules to keep the bank aligned with current industry standards.
This integrated setup has enabled smooth operations at SWSbank, automating essential functions like customer communications and statement generation. Following the bank’s recent name change, updating the brand across all platforms was essential to maintain consistency and maximise the rebrand’s impact.
Ultradata was chosen to deliver the rebrand across the digital banking channels. Kate notes that Ultradata’s familiarity with the SWSCU brand and IT infrastructure and their systems, would ensure business continuity throughout the project. This was key to an effective brand rollout.
“As the provider of our core banking, internet banking, mobile app, and website services, Ultradata had an intimate and comprehensive knowledge of our operational needs and customer experience.
This innate understanding gave them the ability to implement the necessary branding updates swiftly and without disruption to customer-facing services.”
To streamline the transition, SWSBank leveraged Ultradata’s Ultracs Name Change toolkit to automate the update of its name across the core banking system on launch day. This tool enabled a seamless switchover, replacing all instances of the old name with the new one.
SWSBank also partnered with Ultradata for a comprehensive rebrand across its digital platforms, from the website to mobile banking. Ultradata’s branding software ensured efficient, consistent deployment of the new SWSBank identity, strengthening brand equity and achieving the rebrand’s strategic goals.
As part of this rollout, SWSbank’s new branding was implemented on:
To establish its online presence, SWSbank transitioned from its former URL, swscu.com.au, to swsbank.com.au, with a redirect from the old address to ensure continuous customer access and uphold best practices in user experience.
With Ultracs CMS and guidance from Ultradata’s consulting team, SWSbank successfully updated its website without disrupting the live experience, underscoring its commitment to being the same trusted institution, now with a refreshed identity.
Camilla Futter, Project Manager at Ultradata, shared, “Although it may have appeared as a simple name change, extensive coordination was required behind the scenes. Collaboration among Ultradata, SWSbank, and relevant partners was key to achieving a seamless launch.”
The collaborative rebranding project between Ultradata and SWSBank successfully transformed the bank’s digital presence across all channels. Kate highlights Ultradata’s expertise in digital banking as essential to the project’s efficiency and success.
“Ultradata’s project proficiency was pivotal in guiding the SWSBank digital rebrand with a blend of technical expertise and strategic insight. Their comprehensive knowledge of our core banking systems, combined with their digital management experience, enabled a rebrand that is both visually appealing and functionally robust. The seamless integration of SWSBank’s identity across internet banking, mobile apps, and the website ensured our updated look without disrupting user experience or service continuity.”
The rebrand has already shown promising results, with increased membership and positive feedback from the community. The SWSBank name is resonating with both loyal and new customers, boosting brand presence and setting a foundation for future growth. Long-standing members appreciated the smooth transition, while new members have responded well to the accessible, modern identity.
With a brand that appeals to today’s financial services customers, SWSbank is poised for revenue growth, market expansion, and continued strength as a pillar of its community and beyond.