Chicago's
oldest union bank adopts a new name and logo to reflect its updated
digital-first approach and broadened reach
CHICAGO, July 9, 2024
/PRNewswire/ -- ABOC, formerly Amalgamated Bank of
Chicago, today announced a
rebrand, coinciding with the institution's 102nd anniversary. The
bank has unveiled a new name, logo and visual identity, showcasing
a modern look that reflects its rich heritage while setting the
stage for future growth. The rebranding provides an opportunity for
the full-service, Chicago-based
bank to further grow and continue evolving into a national banking
leader.
Amalgamated Bank of Chicago Rebrands to
ABOC
"We believe the time is right to broadly communicate the things
that set us apart: a strong foundation, profound trust, in-depth
financial and banking expertise, and highly personalized and
responsive service," says Nick
Weaver, ABOC president and chief operating officer. "Through
this rebranding, we will re-energize the bank, re-introduce it to
the Chicago area and position its
capabilities to new customers in other markets, starting with
St. Louis."
Weaver adds that in today's extremely competitive banking
industry, it is essential to evolve and grow in order to survive.
"We are eager to demonstrate that we've done just that. We will use
the platform of the rebranding to capitalize on our
forward-looking, digital, growth-oriented approach."
The rebranding includes the introduction of a shorter, more
user-friendly trade name, as well as a tagline for the new ABOC
brand – "A Bank Built on a Strong Foundation." Chicago is being removed from the company
brand name to reflect the bank's desire to broaden its customer
footprint. In addition, the new logo is an evolution of the
previous logo, with an interlocking hexagon that subtly depicts a
handshake, underscoring the close partnership that ABOC shares with
its clients. It also demonstrates the bank is building on the rich
history that has contributed to its success for more than a
century.
In addition to the rebranding, ABOC is working to attract new
union customers outside of the Chicago area by introducing Union Protect
Solutions, which caters to the diverse and changing needs of unions
of all sizes by grouping services and products – all of which can
be administered remotely without the need for a physical location –
into three tiers. This starts with an expansion into the
St. Louis market in 2024.
The financial and banking landscape has changed greatly
since ABOC's founding, but the bank still stands out for its
ability to meet the specific needs of unions and provide protection
for today and solutions for tomorrow. In addition, over the years,
the bank has expanded its tailored commercial financing solutions,
sophisticated treasury management tools, trust and investment
services, and personal banking, in response to the current
preferences and needs of today's customers.
"ABOC is well-positioned to compete in an increasingly crowded
financial services industry," Weaver says. "We're confident in our
ability to distinguish ourselves from our peers with our history,
knowledge, expertise, relationships, and banking services."
About ABOC
ABOC (formerly Amalgamated Bank of
Chicago), member FDIC, is a
full-service bank with a long and rich history of providing trusted
expertise and a wide variety of financial products and services,
including commercial banking, union banking, trust services and
personal banking. ABOC was founded in 1922 by the Amalgamated
Clothing Workers Union (now known as Workers United) to serve the
financial needs of local businesses and working people.
Headquartered in Chicago, ABOC has
expanded its commercial and consumer focus over the past 100 years.
The bank's relationships with customers are based on profound
trust, in-depth financial and banking expertise, and highly
personalized and responsive service. For more information, visit
https://www.aboc.com/.
Media Contact:
Charisse Barnachea
Mekky Media Relations
abocpr@mekkymedia.com
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SOURCE ABOC