GAINESVILLE, Fla.–SunState FCU has unveiled a new name to go with a new state charter.
The $570-million SunState FCU said it is changing its name to Radiant Credit Union effective Jan. 4.
In a message to members, SunState stressed the change is not the result of a merger or acquisition by another financial institution, but instead a “ instead a reflection of our deep commitment to meet the changing needs of the members and communities we serve, both now and for years to come.”
The credit union said it will continue to primarily serve North Central Florida.
“Radiant, as a name, is all about the state of mind we bring to serving members every day,” said Tom Barnard, SunState president/CEO, in a statement. “Members will directly benefit from this conversion, as it gives the credit union greater flexibility to expand service beyond the current markets served today while positioning us to realize greater efficiencies and economies of scale, resulting in lower fees and better rates.”
With the name change SunState said members will be offered a free update to the current mobile app.
In addition, in a statement to members, the credit union said it will now be supervised by the Florida Office of Financial Regulations in Tallahassee with an emphasis on a local focus rather than a national focus.
SunState said its federal charter limited its ability to grow into new counties.
SunState, which has approximately 40,000 members, reported $4.5-million in net income to date in 2020 on its Sept. 30 call report.