Sponsor changes name, so does its credit union
When the parent company of AFG Industries decided to roll-up its subsidiary under the holding company moniker, AGC (Asashi Glass Company), its credit union decided to follow suit.
In this PDF newsletter, AGC Credit Union said:
AFG Industries changed their name recently. Since we are the financial institution for the employees and their families of this company, your Board of Directors decided to do the same. Effective September 1, 2007 AFG Employees Credit Union became AGC Credit Union.
The credit union says nothing else is changing.
With only $15 million in assets and one office location, the transition should be fairly smooth and inexpensive.
Key Questions: What happens if the sponsor changes names again? Or gets acquired? Merged? Goes bankrupt? Has an Enron-style implosion?
Previous related stories from The Financial Brand:
- Brunswick Employees to become ‘Port City Credit Union’
- Sponsor shutters doors, credit union changes name
- Wauwatosa Credit Union becomes ‘Focus’
Tags: name change, sponsor