X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WEST PALM BEACH, Fla. – For many credit unions what’s in a name can mean the difference between growth and being overlooked. The name change game is constantly changing and the latest players seem to be education-based credit unions. Here are just a few that have recently changed their names: After 50 years of serving the educational community in Louisiana, Baton Rouge Teachers Federal Credit Union has expanded its field of membership and will now be known as Neighbors Federal Credit Union. With a slogan of “Now Serving more of your Neighbors” the credit union says the name is the “next generation” of its service to members. “We’ve been saying for years that we’re `not just for teachers’ because students and family members have been welcome. Our new name will help those in our neighboring parishes to realize the wonderful opportunity that now lies before them,” said Neighbors FCU President/CEO Norman Thompson An awareness campaign that includes a series of television, radio, outdoor and print ads has recently been launched. Ohio-based Dayton Area School Employees Federal Credit Union has also expanded its field of membership and changed its name to FirstDay Financial Federal Credit Union. With the brand position of “A New Day. A New Way”, the credit union hopes younger members will start to consider the credit union as a “new way to bank”. “Our research shows that many younger members don’t really understand what credit unions are and how they differ from banks,” said FirstDay FCU Vice President of Marketing Toni Lindsey. “The sunrise in our logo promises the dawn of a bright new day of financial services. We think we offer a great value to our members and expect that message to spread through our advertising and by word of mouth. It’s an exciting time for us.” Nashville, Tennessee-based Tennessee Teachers Credit Union has changed its name to The Tennessee Credit Union. With a field of membership that consists of those outside the field of education the credit union is playing up the concept that it is the “financial choice for life.” The $280 million Vancouver, Washington-based Clark County School Employees Credit Union is focusing on “financial intelligence” with its name change to iQ Credit Union. To build brand awareness the new tagline “Financial Intelligence Pays Off” is being positioned as more of a promise than a slogan and various themes of it will be found in billboards, buses, newspapers and radio spots. “This name better describes who we are today and new possibilities for growth in the future, said iQ CU President/CEO Roger Michaelis. “Education-and the entire educational community will always be at the heart of everything we do. Our roots in education run deep.” The decision was not taken lightly as the credit union had been contemplating a name change for some six years. Working with Weber Marketing Group, the move to change after 64-years was prompted by an expanded field of membership, which includes all of Washington State. “We did several focus groups of both members and non-members. Our members agreed that the past name was a roadblock to growth and we were very surprised to find that so many non-members had never even heard of us,” said iQ CU Vice President of Marketing Danette LaChapelle. “And those who did know of us didn’t think they could join and just didn’t consider us as a financial option. So far the response has been positive and people are walking in saying we saw your billboard.” [email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.