PRINCIPALS LAUNCHES CATALYST, MONEY FOR THE THINKERS.

Previously known as Unicom Credit Union, Catalyst focuses on the university community and is based in the University of NSW. Despite winning Money Magazine’s prestigious Credit Union of the Year Award, Unicom was struggling to get noticed and attract new customers.

Tess Shaw, Strategy Director at Principals, said “The challenges were significant. Unicom was competing in a highly competitive market, but one in which audiences don’t really understand credit unions and mutual banking as a category. And the previous name and identity made it appear more like a local telecommunications provider.”

Mike Halloran, CEO of Community Alliance Credit Union, the parent body of Catalyst Mutual said: “Principals helped us to position Catalyst as a savvy alternative to the larger institutions who appear exclusively commercially focused. Our brand shares some common themes with those that work in universities, recognising the inherent value of ideas, creativity and learning.”

“Our new name and identity support this new positioning and they celebrate those who think differently and consider alternatives that don’t always fit the mould,” Halloran added. “We’re delighted with the work.”