Texas Credit Union League mulls name change

FARMERS BRANCH, Texas – First it was called the Texas Credit Union League, then it wasn’t, then it was again. What the Texas Credit Union League will be called after its next name change is approved is anyone’s guess. The league, at the directive of the board of directors, is exploring the possibility of changing the name of the organization to one it says more accurately reflects the organization as it exists today. “Changing an association’s name is no longer a rarity,” said Randy Pruett, vice president of corporate relations for TCUL. “Associations are refocusing the definition of what they do, partly because their members are doing that, and partly because it’s a competitive world. “Name brand visibility and reputation management are strategically valuable for both associations and for their members who increasingly are looking to associations to market the industry. That’s where a name change comes in. Like most associations, the Texas league wants to reflect these changing times,” Pruett continued. The Texas Credit Union League was founded – and named – in 1934. Through the 1970s, 1980s and early 1990s it was referred to as the Texas Credit Union League and Affiliates. The “affiliates” portion referred to the league’s various subsidiaries, including an insurance company, and service corporations. Then the name reverted back to the Texas Credit Union League. So why is the league looking for a new name now? “We’re into so many things, and we need a name that says so, a name that gives a broader sense of what we’re about,” said Pruett. To encourage members’ input-about 650 CUs are affiliated with the Texas league-the organization sent out two surveys. One went by fax to credit union CEOs, and the other went by email to league employees “because their input is just as valuable,” said Pruett. All questionnaires had to be completed and returned by July 3. Among the names Pruett said the league is considering are: Texas Credit Union System, Texas Credit Union Network and Credit Union System of Texas. Nomenclature like “alliance” or “association” are also possibilities. “We’re open to suggestions to help us make our determination. There’s room for respondents to write in other name ideas, if they have any,” Pruett said. Once the league has had a chance to review members’ responses, it will decide whether to hold further focus groups among credit unions. “But if the surveys come back and there’s an overwhelming choice, then we’ll have a winner,” said Pruett. In addition to providing the board of directors with the choice of a new name, league management also has to come up with a timeline and budget for rolling out the new name. To make everything official, credit union delegates will have to vote on the name change at the league’s annual meeting next April. -