Fort Knox FCU Changing Name to Abound Credit Union
CU officials say the new name "will help make it clearer to our friends, neighbors, co-workers and family, that they can access the same credit union benefits we enjoy."
The Radcliff, Ky.-based Fort Knox Federal Credit Union has announced it is changing its name to Abound Credit Union on Feb. 18.
The credit union, which has $1.7 billion in assets and about 111,000 members, said it spent months choosing the name in conjunction with board members, management, employees and a branding firm.
“We selected the Abound name because it signifies our passion for helping members thrive and flourish. It’s a name full of pride and potential. It reflects our patriotism and connects us with our growing Kentucky communities,” Board Chair Reba Watson and President/CEO Raymond Springsteen said in an open letter to members.
The credit union said it will reissue all of its debit and credit cards with the new name and logo. It will also move its website to a new URL, change its exterior signage, and change its brochure and stationery starting this month.
“According to a Kentucky Credit Union League study, less than one-quarter of Kentuckians utilize a credit union today. After extensive research, we learned that one reason more local families aren’t experiencing the benefits of credit union membership is a lack of understanding, due to our current name,” the credit union also noted in an FAQ on its website.
“Based on these findings and a comprehensive name and brand evaluation process, your volunteer board of directors made a unanimous decision to change the credit union’s brand and name. The new name and brand will help make it clearer to our friends, neighbors, co-workers and family, that they can access the same credit union benefits we enjoy. This is true for both our military and civilian communities,” it added.
Rebranding has been very popular lately among credit unions.
Last month, for example, the Delray Beach, Fla.-based IBM Southeast Employees Credit Union announced that it was changing its name to iThink Financial Credit Union on March 2. IBMSECU has $1.5 billion in assets and about 94,000 members.
In addition, the Elyria, Ohio-based School Employees Lorain County Credit Union announced that it became Achieve Credit Union on Jan. 2.
On Jan. 1, the Grand Blanc, Mich.-based Dort Federal Credit Union became Dort Financial Credit Union, and the Ticonderoga, N.Y.-based Ticonderoga Federal Credit Union became TrailNorth Federal Credit Union. In addition, the Brigham City, Utah-based Box Elder County Federal Credit Union became Elevate Credit Union.
Dort Financial has $1 billion in assets and about 97,000 members. TrailNorth has $113 million in assets and about 9,800 members, and Elevate has $146 million in assets and about 12,700 members.