Dort Federal Credit Union Moves to State Charter With New Name
The credit union's leader believes this change "removes membership barriers and provides opportunity for future growth" for the $978 million CU.
Grand Blanc, Mich.-based Dort Federal Credit Union has become Dort Financial Credit Union.
The change, which took effect on January 1, was part of the credit union’s conversion from a federal charter to a state charter, according to a press release. Dort Financial has $978 million in assets and about 95,000 members.
“We are very excited to have the opportunity to grow the credit union and expand our financial products and service offerings to the entire state,” Dort Financial President and CEO Vicki Hawkins said.
“This conversion removes membership barriers and provides opportunity for future growth and sustainability as we are now able to serve anyone who lives, works, attends school, or worships in the State of Michigan.
With this also comes a new name which better reflects the wide range of financial services we offer; we are now Dort Financial Credit Union,” Hawkins also said in a newsletter to members.
The credit union said little will change for members, though the credit union will change its name and signage in its 10 branches.
Dort Financial is the latest in a long string of credit unions that have changed their names recently.
For example, Circle, Mont.-based McCone County Federal Credit Union became Grasslands Federal Credit Union, and the Ticonderoga, N.Y.-based Ticonderoga Federal Credit Union became TrailNorth Federal Credit Union. Grasslands has $80 million in assets and about 3,500 members; TrailNorth has $114 million in assets and about 9,800 members.
In addition, Brigham City, Utah-based Box Elder County Federal Credit Union became Elevate Credit Union on Jan. 1. The credit union, which has $143 million in assets and about 13,000 members, said it changed its name in order to better reflect its current membership base.