Trends in Credit Union Name Changes

A review and analysis of 10 recent name changes in the credit union industry.

The Financial Brand spotted two trends emerging within the last year. There seems to be more credit unions switching to state charters, triggering bigger changes to their names than just dropping “Federal.” There is also an increasing number of credit unions who have already undergone name changes, and now they are switching again — from names with relatively wide appeal (like Comstar, Members First and Northwest Resources), to new names with equally broad appeal.

You diggin’ this ‘Vibe’?

Old Name: Telcom Credit Union
New Name: Vibe Credit Union

Reason/Rationale: After conducting extensive research of members and non-members in the Metro Detroit area, the credit union says it discovered that “Telcom” had very minimal name recognition. People didn’t know what the old name represented nor that anyone could join.

continue reading »