EL PASO, Texas–El Paso Area Teachers FCU has a new name. The 86-year-old credit unions is now called Raiz Federal Credit Union, with the name pronounced as “rise.”
The move comes just a decade after the 86-year-old credit union rebranded itself as TFCU. But even with the rebranding, many people in its markets continued to believe it is only open to teachers, officials told the El Paso Times.
The CU, which has more than 77,000 members, is open to anyone who lives, works or worships in El Paso County.
The new Raiz FCU unveiled the name during a news conference and social event at the Region 19 Starlight Event Center.
From the Spanish
“Raiz is the Spanish word for root, which honors the credit union’s heritage as a financial institution founded by teachers, sharing a passion for knowledge and a pursuit of growth,” Ale Loeza, TFCU’s marketing and public relations manager, told the El Paso Times “It also reflects this area’s Hispanic culture, rooted in community.”
The name, pronounced rah-ees in Spanish, will be pronounced as “rise” in the credit union’s English-language marketing because “we are rising and invite the community to move forward with us,” Loeza told the Times. "It's a branding technique," Loeza said. It's using one name to provide two meanings, she said.
Potential FOM Expansion
According to Loeza, the new name also will help if the credit union should it expand its field of membership outside El Paso.
The $908-million Raiz FCU has approximately 220 employees and 10 branches.
It has $908 million in assets, 10 El Paso-area branches, and 220 employees.
The credit union's new logo has Raiz in blue letters next to a red box representing an El Paso architectural archway with a line going up like a profit line in a financial chart, Loeza told the El Paso Times.