REDWOOD CITY, CALIF. –San Mateo Credit Union has introduced a new name and brand. The $1.68-billion CU is now Monterra Credit Union.
“This transformation reflects the Credit Union's dedication to providing innovative financial solutions, excellent member service, and a forward-looking approach to alleviate confusion surrounding membership eligibility and to create a more inclusive and welcoming financial institution for all,” the credit union said in announcing the change.
Founded in 1952, the credit union said it has grown and evolved and that the San Mateo Credit Union name may have “unintentionally led to confusion” over who can join.
A ‘New Chapter’
"This name change represents a new chapter for our credit union, one that underscores our commitment to providing exceptional service and support to our members," said President and CEO Wade Painter. “Our commitment to providing exceptional financial services remains steadfast, and this name change ensures that everyone knows they are welcome to join our credit union. We want to eliminate any confusion about membership eligibility and be the financial partner for anyone who wishes to join."
According to the credit union, the name "Monterra" reflects the “pride” it has in the local area and community.
An ‘Iconic Beach’
“While it’s spelled differently, Montara is both an iconic beach near Half Moon Bay and the name of the mountain that’s one of the highest points in the county,” the CU said. “Hence, the new name’s strong connection to the county. Mont refers to the mountains and peaks, like the way it helps members reach higher and achieve their goals. Terra means land and symbolizes firm roots in the community, as well as stability. The name also reflects the credit union's strong ties to the local community and its dedication to providing a safe and secure financial institution for its members.”
The rebranding will last through the middle of Q1 2024, said Monterra CU, which has approximately 94,000 members.
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