Central/Compass Bank: $1.83 Checking
Channel: DavidFreelsWriter
Date: 05/08/2012

Central Bank (now BBVACompass) was Alabama's 4th-largest bank and known as the "$1.83 bank" because the only thing they advertised was their lowest-priced checking account. 

Central's new account growth stagnated. Research found the more affluent believed Central was only for those who couldn't afford more than $1.83 a month.

This led Central to produce their first-ever branding campaign. They wanted to relaunch themselves as the consumer's strongest economic advocate, no matter which rung of the economic ladder folks were on, whether at the very top or the very bottom.

A new slogan capitalized on a frequently referenced economic barometer. "Unlike other banks, our prime interest is you" strategically re-positioned Central Bank as the consumer's ally. Advertising demonstrated Central's commitment with financial products and services tailored to meet the need of any and every individual customer.

Even though this is also a "$1.83" spot, it was so completely different from any of the previous versions that it created a perception-changing bridge to the new Central. The campaign proved so successful, Central grew to Alabama's 3rd-largest bank in less than 6 months.