With $87 million in assets and 13,000 members, Pittsburgh Teachers Credit Union will officially become ‘Riverset,’ effective January 2, 2008.

According to this article, President and CEO Christine Chojnicki said the credit union’s name was being amended to Riverset in an effort to broaden the organization’s appeal to groups other than teachers. Chojnicki said the name change will make the credit union “more inclusive” of all its members, as well as members or employees of some 60 companies and organizations representing health care, retail, hotel and public sector employees.

She said the credit union isn’t moving toward a community charter or away from its core members, even thought it will be open to anyone who lives on Pittsburgh’s South Side, where the credit union is based.

Chojnicki is quoted as saying, “Our members have been very receptive to the change.”

Michael Wishnow, senior vice president of communications for the Pennsylvania Credit Union Association, said there’s a trend among credit unions to move toward community charters and away from select employee groups, or SEGs.

“When you look at how credit unions grew up, it was usually around a single, large employer,” Wishnow said. “But there are fewer and fewer large employers.”

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