Sponsor Shutters Doors, Credit Union Changes Name
PCA Federal Credit Union's primary sponsor closed their facilities and became 'Greater Wayne Community FCU'.
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PCA Federal Credit Union's primary sponsor closed their facilities and became 'Greater Wayne Community FCU'.
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This credit union is revamping its name and logo with a rebranding. But, that's not all members should expect to change.
Even back in 1987, the New York Times understood the unspoken costs of a banking rebrand — insight banks and credit unions should read now.
"New trend[s] in bank names seems to be for more corporate sounding monikers, names [not] found in a dictionary like Comerica and ReliaBank."
Lawsuits are expensive and time-consuming. Banks can avoid the headache by staying away from conventional terminology, like "Citizens".
Two banks sharing the same name decided to shed their old 'First Federal' monikers. One is in Iowa, and the other Indiana.
St. Charles Borromeo Federal Credit Union, serving St. Charles Borromeo parishioners, is changing its name to better represent the community.
Virginia state law says credit unions are to hold a member vote where new names need to be approved by a simple majority.
BN West's new name comes with a new tagline, which the credit union says reflects its "focus on members needs first and foremost."
No explanation was offered from GE FCU for the name change although it seems it was only a small part of an overall image makeover.
Although most credit unions need a certain margin of votes for a name change, going from 'Professional' to 'Pro' likely didn't warrant one.
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