SPOKANE, Wash.–Credit unions in Washington and Utah have announced plans to change their names.
Spokane FCU said it is changing its name and brand effective in mid-summer to Canopy Credit Union.
“Careful thought and consideration went into this decision. For many, the name Spokane Federal Credit Union has been synonymous with friendly, fun, caring and trustworthy service,” said Charlotte Nemec, president and CEO of Canopy Credit Union, in a statement. “We’ll continue to guard these same principles for which the credit union was formed …”
According to Nemec, the name is meant to “honor our past and point to our future,” with the credit union saying in a statement it reflects its “mission to protect each member’s financial world like a canopy shelters the Pacific Northwest forests.”
A Work of Propaganda
Canopy FCU worked with the agency Propaganda Creative on the rebranding.
“We knew we wanted a name that reflected not only where we’ve been and who we’ve become, but also a name that will help us better define our future,” said Susan Cerutti-Jensen, marketing director for Canopy Credit Union in a statement.
The credit union’s name change will take effect July 22.
The $158-million Spokane FCU has approximately 11,300 members.
Change in Utah
Meanwhile, in Brigham City, Utah, Box Elder County Credit Union said it plans to expand its operations to Logan, Utah, in the Spring of 2020 and as it does so it will also change its name. BECCU said it will rebrand itself as Elevate Credit Union, effective Jan. 1.
“We are very excited about our new name and the future of our credit union,” CEO Scott Webre told the Cache Valley Daily. “By selecting our new name, we have made an investment in our future. We believe Elevate Credit Union provides a foundation for growth in the years ahead.”
‘Distinctive and Memorable’
Webre told the publication the CU has many members who live and work in Cache County. He added he is aware there are a lot of financial institutions in Cache Valley already, but the credit union feels like it can do well there.
The $132-million credit union has approximately 12,300 members.
It said it chose the name Elevate because it is distinctive, memorable, and represents not only its geographic surroundings, but describes its purpose of elevating members, their goals and dreams through the financial services it provides
The credit union was founded in 1954 to serve the now-defunct Intermountain Indian School.