Officials with Members 1st were not immediately available to comment.
CHAMBERSBURG, Penn. – Metro Bank has agreed to drop its red M logo to settle a trademark suit brought by Members 1st FCU, long-time users of a distinctive red M to promote its brand.
The change to the logo is the basis for last week’s termination of a suit brought in June 2009 by the $1.9 billion credit union, a few weeks after the local bank rolled out its new brand using a similar M.
The suit claimed that Metro Bank, formed by the merger of Commerce Bank and Republic First Bank, was intentionally piggy-backing on the credit union’s successful M campaign to steal customers with new ads and other marketing material. The symbol, which runs on Members 1st’s billboards and TV ads, as well as on statements and all print material, are so similar that some consumers have mistaken the credit union for the bank.
The logos are similar but not identical. Metro Bank’s M has a break in its left side. The Members 1st M has a break on the right side to form a 1st from a leg of the M.
Officials with Members 1st were not immediately available to comment.
