Poised for Image Makeover, Dearborn FCU to Change Name to DFCU Financial

DEARBORN, Mich. – After a series of name changes over the years to reflect a diverse and growing membership, Dearborn Federal Credit Union is set to launch its name and logo in January, much to members’ approval. Effective, Jan. 21, Dearborn will be known as DFCU Financial, said Mark Shobe, president/ CEO. As the largest credit union in the state with 170,000 members and $1.6 billion in state, Shobe said the new moniker is in alignment with an aggressive growth plan that transcends its Dearborn home base. “We want to unencumber ourselves from the Dearborn-specific reference,” Shobe said. “Today, about 13 percent of our members still reside in Dearborn, and as we expand into new markets, it’s very helpful to generate a community presence.” The new image will bring a new branch in 2003 and two more scheduled for 2004 for a total of nine. The three openings are designed to serve members who have moved out of the Dearborn area and allow the credit union to continue to provide convenient access to products and services. The name change will be the fourth for Dearborn during its 50-year history. Chartered in 1950 for a group of Ford engineering employees, Dearborn was only allowed to serve Ford Motor Company engineering and styling employees working in the west Dearborn, Mich. area. The field of membership has been expanded considerably over the years. What began as Ford Engineering Employees Federal Credit Union in 1950 became Ford Dearborn Federal Credit Union in 1954, and then Dearborn Federal Credit Union in 1960. Member focus groups convened last May, helped guide the direction of the new name. Feedback included members pointing out that the “extent of (Dearborn’s) financial expertise is not fully understood,” service and membership differentiate the credit unions from competitors and communicating that the change is not the result of a merger or acquisition is key. The process of coming up with the new name took nearly a year and a half, Shobe said. “We talked about an entirely new name, but as we listened to our members in the focus groups, we found the acronym itself was already commonly used by the client base and it’s something they can latch onto,” Shobe said. When the new signs are unveiled, the branch locations will become part of the name, such as DFCU Dearborn, DFCU Livonia or DFCU Henry Ford Health Systems. “We recognize that members feel very connected to this organization because they are not just customers, they are members,” Shobe said. “We want all members to feel good about this change, so while it’s important to change for business purposes, we didn’t want to walk away from the heritage that keeps members connected to the organization.” Dearborn is also a founding member of Service Centers Corporation (SCC), the first credit union network of its kind in the country. This network allows DFCU members to conduct a transactions at 20 Family Service Center branches in Michigan and free access to their funds at more than 400 automated teller machines. -