Union Bank is Israel’s sixth-largest bank.
However, since Israelis always seem to refer to the ‘top five’ banks without specifying the bank’s names, ‘Union Bank’ does not receive much exposure in news headlines or in the public consciousness.
If banks are like supermarkets, then Union Bank is a boutique delicatessen.
Until 2008, its clients included capital market investors, diamond dealers, and various businesspeople.
As competition for the domestic sector increased among banks, more and more customers expressed an interest in obtaining services from banks other than the traditional duopoly. Customers were looking for high quality service, personal connection and professionalism.
Organizations with a long history – such as banks – are very cautious about making drastic changes to their brands, and definitely not during a global economic slowdown.
However, Union Bank didn’t have much of a choice.
Its previous brand language was obsolete and its brand colors conveyed coldness, detachment and folksiness. Its logo was outdated, and expressed neither vibrancy nor growth. The bank did not use a particular color to differentiate it from other banks. The bank symbol was anonymous and looked very much like the logo of the Egged bus company, if one letter was removed from the bank’s Hebrew name.
To create a brand that would give Union Bank a prominent and easily distinguishable image that conveyed the bank’s core values of professional service, integrity and personal attention.
We created a very different symbol, one that is unique in the Israeli banking world – a symbol that represents a personal signature.
The signature conveys messages of personal connection, intimacy, promise, commitment and prestige. The heart shape also conveys the qualities of caring and service.
Why purple? Because purple is a deep, noble, spiritual and luxurious color. Purple is a combination of red and blue, so it combines the dynamic nature of red with the stability of blue. The combination of this color with silver adds to the sense of prestige and elegance. And that’s how Union Bank is perceived today!