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From the December-16, 2009 issue of Credit Union Times Magazine • Subscribe!
A Rose by Another Name May Smell Sweeter
After reading the letter to the editor, "CU Founding Fathers Would be Disappointed in Today's Movement," in the Nov. 25 issue, I can only think that one of our big obstacles with growing the movement is our name. To most people, credit union does not illicit thoughts of banking relationships. This is something we fight everyday in developing new business.
If we could be considered a "cooperative bank" or a "member bank" or an "alternative financial institution," we would have better luck in growing our business.
Many people don't know what a credit union does and the time spent marketing what we do is money spent not marketing our better products, services and member service.
Shame on us if we are married to a name for tradition sake.
Additionally, a lot of people wouldn't join because the word union is in our name. Is this something others might think is worth talking to our legislators about? Food for thought.
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