Saginaw Medical FCU Becomes Health Advantage Credit Union

Saginaw, Mich.-based Saginaw Medical Federal Credit Union has become Health Advantage Credit Union.

The change, which took effect on November 1, reflects a larger field of membership and highlights the credit union’s service to the healthcare industry, according to a letter to members from President and CEO Laura Crase and board chair Thomas Hollerback.

“Last year we expanded our charter to include anyone who works in the healthcare industry within the state of Michigan. This new name more accurately reflects and identifies all the members that we serve while preserving our history and heritage,” it said. “We believe our new name will put the credit union in the best possible position for long term growth while still recognizing our core membership — the healthcare community.”

The credit union, which has $138 million in assets and about 12,000 members, said it will change its exterior branch signage, brochures, stationery and website. Routing numbers, account numbers, phone numbers and staffing will not change.

Several credit unions have announced plans to change their names and rebrand in recent months.

Last week, for example, St. Louis-based Anheuser-Busch Employees’ Credit Union and its divisions American Eagle Credit Union and Purina Credit Union announced a name change to Together Credit Union. That change takes effect November 12. The credit union has $1.8 billion in assets and about 133,000 members.

This summer, Missoula, Mont.-based Missoula Federal Credit Union announced it would become Clearwater Credit Union. Missoula Federal, which has $554 million in assets and about 51,000 members, said it was changing its name in order to appeal to people outside Missoula.

On July 5, Tucker, Ga.-based GEMC Federal Credit Union became Go Energy Financial. The credit union, which has $123 million in assets and about 13,000 members, said the change would help it reach outside its historic membership base.

Also in July, San Bruno, Calif.-based SF Police Credit Union changed its name to The Police Credit Union of California. It has $931 million in assets and about 42,000 members. The credit union said its new name represents an ability to welcome new law enforcement departments, related agencies and their families throughout California.

Brigham City, Utah-based Box Elder County Federal Credit Union announced last spring that it would become Elevate Credit Union. Box Elder County, which has $143 million in assets and about 13,000 members, said it was changing its name in order to better reflect its current membership base. That rebranding is scheduled to take effect on January 1, 2020.