WEST MONROE, La. — When Forest Kraft Federal Credit Union decided to change its name, CEO Chris Craighead wanted the new name to be short-one word that would become an icon in the community.

The result is Centric Federal Credit Union, which goes beyond paying tribute to the credit union's roots at the paper mill and encompasses its key values and focus on its members and the community it serves.

“We'd first discussed changing the name about seven years ago, but we felt our brand still had value to it, and we'd lose more than we'd gain in changing it,” said Craighead. “The turning point for us was when someone on the street was asked about Forest Kraft FCU. They not only didn't know what a credit union was but then said they couldn't join because they didn't work at the mill. That was two strikes, and it was time to make a change.”

Craighead added that Centric's expansion by acquisition of a credit union that served two hospitals and 50 medical groups and then meeting the needs of the underserved in two parishes had reduced the core group to 30% of its membership.

Craighead and the board turned to Atlanta-based design-build firm LEVEL5 for its help in creating a new headquarters and prototype branch. Sky Design, a subsidiary of ASD, one of the professional groups on the LEVEL5 team, was also tapped for the credit union's retail merchandising and help in developing the new graphics and branding identity.

“The greatest challenge for us as a federal credit union is that NCUA will not allow you to have the same name as another credit union, and I think that is why some credit unions thinking all the good names have been taken opt to just tweak the spelling,” said Craighead. “When we were presented Centric, we knew it was something that could really grow into a good brand given that it means having a common center and for us our center is our membership.”

Not wanting to forget its original members while embracing new members was vital to Craighead and the board so the idea of playing on the concentric circles of a tree, which are its growth circles, worked out well as a cohesive theme found in the logo.

“The new logo is a leaf with C, and the circles give the impression of a tree's growth rings,” said Sky Design Associate Carrie Brown. “The imagery speaks to the credit union's core values in that the member is first, and center of that tree and the staffers work around and grow with this member specifically.”

The facility itself reflects that renewed commitment to members by featuring an open, inviting floor plan and dialogue delivery systems.

“It is about the entire experience a member has with us, not just certain outlets they may use,” said Craighead. “If you think about it, we are in a commodity business. Everyone may have checking and savings accounts, et cetera. But what makes us different is our brand and people, and this facility is an integral part of that. Traditional banking is not an inviting environment. We make our members walk through the whole branch and stand in one place and act a certain way. But this retail environment marries traditional banking with a personal touch that encourages conversations and helps deepen relationships.”

According to LEVEL5 Southwest Regional Director Elliot Baird, the greatest challenge facing Centric was pushing forward against the tide of history.

“The paper mill employees still receive paper checks every week, so they would just walk up to a teller line to make their deposits and leave,” said Baird. “With the new interactive experience of the dialogue centers in the branch, members are now discovering the many products and services that Centric offers.”

To reinforce the idea that members stepping into the space will have a new banking experience, LEVEL5 Senior Project Manager Cheryl Waybright said the firm focused on not only meeting functional needs but also creating, from wall graphics and colors to carpet, a retail environment that was crisp, fresh and would stand out in the marketplace.

Craighead said the major shift in how service is delivered has made a big difference. Members are personally greeted and cross-trained staffers can meet their needs without handing them off to someone else. He said that it reinforces the idea that Centric and its employees are here as partners in helping improve their financial lives. The new headquarters and prototype branch opened to rave reviews from members on Nov. 3, and Craighead said plans are underway to renovate two of its four branches by early next year.

“We anticipated some negative feedback, but overall the response has been positive from current and new members,” said Craighead. “For our older members who had questions about why we changed the name, my response has been, 'to try to get your children and their children to view our credit union differently' and that the personal service we're providing is something that will survive the generations.”

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