New logo for Embold CU.
Originally named for the single Oregon county it served, Clackamas Federal Credit Union began shopping for a new moniker after expanding its service area into five additional neighboring counties in August 2021. This week, the credit union announced it had chosen a name, Embold Credit Union, which became official on Wednesday.
The credit union opened in 1957 to serve residents of Clackamas County, which sits just south of Multnomah County – home to Portland, Ore. – and has a population of 422,537, according to 2021 U.S. Census Bureau data. Membership is now open to people in Multnomah as well as Marion, Polk, Washington and Yamhill Counties, which contain a combined population of approximately 1.9 million as of 2021.
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According to the $612 million, Milwaukie, Ore.-based Embold, the credit union worked with the Seattle-based Strum Agency (formerly Weber Marketing Group) to select the new name, which helps eliminate the assumption that only Clackamas County residents can join the credit union.
Coinciding with the service area expansion and name change was the addition of four new leadership positions at Embold.
"After a robust strategic process, our leadership team and board of directors came to the decision to undergo a rebrand and add to our leadership team to serve more members in new communities," Embold CEO Aaron Goff stated. "By reducing confusion about eligibility of who can join, this new name will give us the opportunity to help more Oregonians reach their financial goals."
Strum Agency President/CEO Mark Weber said, "The new name reflects the credit union's deep roots in the community, as well as their passion and commitment to helping members make bold choices to make their financial goals a reality."
Heather Friend, who spent 20 years at U.S. Bank, will serve as Embold's COO; Douglas Haines, former SVP of IT for U.S. Senate Federal Credit Union ($1.2 billion, Alexandria, Va.) will serve as chief information officer; Theresa Hansen joined from Oregon's non-profit sector as chief people officer and Hilary Kissell departed First Tech Federal Credit Union ($16.7 billion, San Jose, Calif.) to become director of marketing and community development for Embold.
"We are thrilled to bring these four outstanding executives on board as part of our strategic plan to position the credit union for future growth and success," Goff said. "Each of them will help us to continue providing exceptional financial services in local communities as we navigate the credit union through growth and into the next exciting chapter."
The credit union noted that members will soon see changes within branches, digital banking and products that reflect the new name and brand.
"Looking to the future, we are excited to welcome everyone in our neighboring counties; they will strengthen our organization as new members," Goff said. "Our passion to help each of our members has always been at the heart of who we are, and while our name is changing, that mission is not. We want to ensure that every member feels heard, valued and emboldened to take their own next steps in reaching their financial goals."
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
