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CU System
Alloya Corporate FCU is new name of Members United
WARRENVILLE, Ill. (4/22/11)--Members United Bridge Corporate FCU has a new name: Alloya Corporate FCU. The name, which is a combination of the words "All," "Alloy," and "Loyal," was announced Thursday by John Fiore, chairman of the Warrenville, Ill.-based corporate's Members Advisory Council (MAC), in a letter to members posted on the corporate's website. Fiore noted the name has received trademark clearance and has been filed with the U.S. Patent and Trademark Office for registration. For a 70-second video that demonstrates the attributes of the name, use the link. "Our criteria required that the name be distinctive, memorable, and timeless," he said. "We sought to project the values of an entity that is within the system, is member-owned, is central to the members' business, and is where service to members is paramount. We wanted the name to have energy, sound and look good, and stimulate discussion. Finally, we wanted a non-traditional name to reflect the difference in our business model." "Work continues with our attorneys to complete the private placement memorandum for the capital offering. We are also finalizing the schedule for a series of town hall webinars to discuss details of the plans, the private placement memorandum, and to answer questions," Fiore said. The webinars will take place throughout May and June, with the first two webinars tentatively slated for May 4 and 5. Over the next few weeks, the corporate will transition to a new website for Alloya to segregate information about Alloya Corporate from the day-to-day transactions of Members United Bridge. More information on the transition will be available at the MAC website. The corporate had filed its capital plan on March 18 with the National Credit Union Administration (NCUA). Last week, NCUA's Office of Corporate Credit Unions informed the corporate it has no objection to the capital plan (News Now April 19).
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