BWU credit union now AffinityPlus

After more than four decades, the Barbados Workers’ Union Co-operative Credit Union Ltd (BWUCCUL) has been rebranded AffinityPlus Credit Union, Marketing Manager Valerie Hope has announced.

After a three-year-long process of speaking to members about the benefits of rebranding, it was decided the time was right for the credit union to unveil its fresh, new look and return to its original headquarters on Fairchild Street after about four years, she told Barbados TODAY.

AffinityPlus Credit Union has over 31 500 members and assets of over $200 million.

Hope said: “We did have some feedback from membership about consideration for a name change, and so to support that process we went to market, we did a brand position survey, over time we have had focus groups with members, we did polls in our banking halls, [and] we also went to persons outside of the credit union who are not members. Coming out of that very robust market research exercise, we then moved on and cemented the discussion that we wanted to change the name of the credit union. We are now proud to be known as AffinityPlus Credit Union Ltd.”

Hope said the credit union’s new name reflects its “DNA” as an organisation. Affinity means “a feeling of closeness and understanding someone has for another person or entity because of similar qualities, ideas, or interests”, she said. 

“This part of our name speaks to our focus on service delivery, empathy, responsiveness and community, which are all key characteristics of our DNA as a company and critical to achieving and holding on to our desired brand positioning. It also pays homage to our roots in the Barbados Workers’ Union and the concept of solidarity.

“The inclusion of the word ‘Plus’ in our name is a bold proclamation that when you are a member of AffinityPlus, you will experience a distinct advantage, as our products and services provide additional value to your life,” added Hope.

Marketing Manager at the Barbados Workers’ Union Co-operative Credit Union Ltd Valerie Hope. (SB)

The improvement of customer service and access to information was also described as another key pillar during the transition.

Hope said: “Recently, as part of our rebranding and the repositioning project, we introduced new service standards. Those service standards reassessed key areas of our operational processes and determined the things we need to put in place to ensure that at every step of the process, the members have an efficient and effective but certainly effortless experience in interacting with the credit union.

“We’ve actually expanded our team in terms of persons who are able to field member calls and respond to member emails. These are all things that we are doing to ensure that in every which way that a member has to interact with AffinityPlus Credit Union Ltd, that it is easy and stress-free.”

The credit union is intent on expanding its financial literacy initiatives, aimed at bringing greater education not only to its adult members but to young students as well, the marketing manager said.

“Certainly, one of the strategic intents of the AffinityPlus Credit Union Ltd is really to create a culture of savings and investments. So we will also be doing our part in terms of trying to engage persons more definitively about financial literacy, and therefore have a better understanding of how you can build wealth and grow your savings in a way that can help propel you in terms of the things that you want to accomplish in life. 

“We have been working on introducing more member education sessions for our members, and a lot of the time those sessions are also available to non-members of the credit union. We are now a sponsor of the National Financial Literacy Programme in schools [because] our belief is that if you can teach a child the basic elements of prudent financial management, then hopefully these are habits they can take with them as they grow.”

The credit union was formed in July 1983 to provide financial products and services to members of the Barbados Workers’ Union. (SB)