Rebranding and name changes for credit unions. (Source: Shutterstock)
SF Police Credit Union and GEMC Federal Credit Union have changed their names in order to better reflect their fields of membership, according to separate announcements from the credit unions.
On July 5, Tucker, Ga.-based GEMC Federal Credit Union became Go Energy Financial. The credit union has $128 million in assets and about 13,000 members.
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"The decision to rename and brand the credit union was born out of a strategic planning process with your credit union's board of directors and leadership team," Go Energy Financial CEO Denise Swan said in a letter to members earlier this year. "To ensure the credit union's continued growth and success, our name and brand are being created to inspire you as well as to help improve the experience of the members who built our credit union while also helping us reach outside our historic membership base."
"We have a focus through our name to honor Georgia's Electric Membership Cooperatives community and rededicate ourselves to helping even more of our neighbors go where they want to go in life," Swan said later in a press release.
On July 15, San Bruno, Calif.-based SF Police Credit Union changed its name to The Police Credit Union of California. That credit union, which will use the trade name The Police Credit Union, said its new name represents an ability to welcome new law enforcement departments, related agencies and their families throughout California. It has $921 million in assets and about 41,000 members.
"The decision to request an expanded field-of-membership was made after extensive research revealed that police agencies throughout California trust our reputation, value and service, and would welcome the opportunity to join our credit union. We're pleased to extend the benefits of membership to these groups, which will further strengthen our financial foundation and help provide enhanced value for all of our members," President and CEO Eddie Young said. "It's important to stress that while our name has changed to reflect the expanded geographic area we now can serve, we remain a credit union exclusively serving law enforcement personnel and their families, and the pride we have in serving this exceptional field of membership will not change."
Go Energy Financial and The Police Credit Union are the latest on the list of credit unions changing their names this year.
Earlier this month, Missoula, Mont.-based Missoula Federal Credit Union announced it will become Clearwater Credit Union this fall. The credit union, which as $542 million in assets and about 51,000 members, said it was changing its name in order to appeal to people outside Missoula.
In April, Brigham City, Utah-based Box Elder County Federal Credit Union said will become Elevate Credit Union next year. That credit union, which has $140 million in assets and about 12,000 members, also said it was changing its name to reflect its current membership base.
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