Monday, March 16, 2015

Becoming Essential To The Membership...

Old Name FCU
Name changes have become increasingly frequent within the credit union movement over the last few years.

 As the economy has shifted to a service focus, and as business sector consolidations have taken hold in earnest; the fields of membership served by many credit unions have broaden dramatically - far beyond the original local plant site, military base, or neighborhood school district. 

Serving wider geographic areas or multiple small employer groups; quite often calls for a new name for the credit union - to rebrand, refocus, refresh, renew, and relaunch the credit union as a community-wide cooperative.

Who picked that name?!
While changing the name of a credit union is difficult and "politically" sensitive, the toughest challenge is in selecting the new name.  Want to pick a fight or bring on a swarm of stinging critiques? Just let it be rumored that a CU name change is planned.  But that's nothing compared to the "public water boarding" that will occur when the new name is finally announced; prepare "to be drawn and quartered"! 

But quite frankly, some credit union "name
Ebola FCU !
 deserve exactly what they get!  Particularly those credit unions which select new names which conjure up visions of ebola, anti-reflux meds, or exotic vending machine prophylactics!  Some CU folks pay big bucks for "branding consultants" to create that opportunity for the credit union to be publicly humiliated! Emerga FCU, Profunda CU, Excessus Financial, you get the picture!

But some credit unions get it right, check it out...

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