Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Trend CUs name changes slowing
MADISON, Wis. (12/14/12)--U.S. credit union name changes have slowed down this year, according to The Financial Brand, an online industry trade publication focused on branding, marketing, advertising, promotions and branch design in retail banking, including credit unions.

In the past seven years, there have been 234 credit union name changes, said the company, which studied every name change in the credit union industry since 2006. That represents 3.27% of all credit unions, which collectively hold 5.52% of all credit union assets, The Financial Brand said.

This year saw the fewest credit union name changes in the past seven years--24, the company said. The high was 42 in 2009 and 2011.

One trend is that smaller credit unions are changing their names. In 2006, about 79% of all credit unions changing their monikers had assets in excess of $100 million. However, by 2012, that percentage had plunged to 33%, with the other 67% having assets under $100 million, said The Financial Brand.

Other trends: nine percent of new names included the word "First" while 6.8% added the word "Financial."

Although alphanumeric constructions are rare--Plus 4, Med 5, Coast 360 and Latitude 32 being the most unique--48 credit unions nationwide (20.5%) that changed their name since 2006 have included a geographic emphasis or reference in their new name, the company said.    

To read the article, use the link.
Other Resources

RSS print
News Now LiveWire
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
5 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
13 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
15 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
18 hours ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
18 hours ago