IOWA CITY, Iowa -- With the aim of embracing a more diverse membership, the University of Iowa Community Credit Union is poised to change its name to Optiva Credit Union.
Members will vote on Oct. 4 on whether to accept the new name and if approved, it will become effective on March 1, 2007. In July, the $515 million CU said after a year of member and market research, many still believe that membership is only open to people employed by the University of Iowa. Founded in 1938 as the University of Iowa Credit Union, the CU changed its name to its present moniker and expanded its field of membership to 14 counties. The CU serves more than 44,000 members.
"Optiva was selected because it reflects our progressive nature, our optimism, and our ability to adapt to the changing needs of our diverse membership," the CU told members in a letter on its Web site. "The name is wholly unique in the financial services industry, just like your credit union."
The CU said it has enjoyed a 68-year relationship with the University of Iowa and will continue that tradition.