PAWTUCKET, R.I.–Pawtucket Credit Union has a new name and brand.
The $2.8-billion credit union is now Coastal1 Credit Union and said it is making the name change to reflect its expansion across Rhode Island and soon, into Massachusetts.
“We’ll always be committed to our roots here in Pawtucket,” CEO and President Brian Azar told Providence Business News. “The long-term evolving strategy is to have the name reflect the greater geography we serve.”
Coastal1 has 17 branches and more than127,000 members. It is expanding into North Attleboro, Mass. with a new branch to open later this year.
According to Coastal1, the new name pays homage to the region’s waterfront, while the numeral “1” is a reference to the company’s mission to “be no.1 in the minds of our customers,” Azar told the Providence Business Journal.
Marketing Campaign Planned
Azur said the credit union plans to market its new name to members and the broader community through direct mailings and TV and radio advertisements over the coming months.
As of Dec. 31, Pawtucket Credit Union had the second-largest share of in-market deposits in Rhode Island, according to NCUA data, the report noted.
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