SAN DIEGO– Point Loma Credit Union has announced a new name. The 71-year-old CU is now MyPoint Credit Union.
The credit union said the new name is part of a broader strategic initiative started two years ago that aims to align the overall brand's experience with the needs of consumers and employees today and for the next 70 years.
MyPoint Credit Union was founded in 1948 as Naval Electronics Laboratory Employees FCU. In 1967, it changed its name Point Loma FCU, and in 1998 converted to a state charter with an expanded field of membership to include all who live, work or worship in San Diego County. In 2002, MyPoint added Riverside County to its FOM.
“Since 1998, Point Loma Credit Union has worked hard to educate the community that they are a credit union that serves an area much larger than Point Loma, but still found it difficult to overcome the challenges of our geographic location-specific name,” the credit union said in a statement.
‘Important Foundation’
"All that heritage is an important foundation, and we can draw from it when needed. But our past story doesn't have to define our future story. As part of our new branding efforts to stay competitive, we've found the right parts of our past to take into the future," said Peter Butler, SVP/COO at MyPoint Credit Union. "While we're extraordinarily proud of our Point Loma history, we knew that it was time for a new name. One that honors our past and guides us into the future. One that delivers on a new banking experience that's all about our members and everything they want to do."
My Point CU retained the San Diego-based strategy firm Bulldog Drummond to assist in the branding change, as well as a new branch experience, a people and culture initiative, and a move in corporate colors from navy to orange.
"The history of Point Loma Credit Union is very important to me. I have been with the credit union since 2001, when I first served as the senior vice president of retail operations responsible for the marketing, branch network, business development, call center, and training functions. I am now honored to be only its fifth president/CEO in its more than 70-year history," said Dave Brooke, president, and chief executive officer at MyPoint Credit Union. "Our intent is certainly not to abandon our history but to ensure we remain relevant and grow within our diverse community. That is why we chose MyPoint, a name that still honors our past but positions us well for a successful future."