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Two Florida credit unions have settled a legal dispute over their taglines, according to court documents filed last week in U.S. District Court in Jacksonville.
A court order directed both credit unions to file a joint dismissal or other appropriate documents by March 25 to officially terminate the case.
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Although details of the settlement agreement were not disclosed, the $11.4 billion VyStar Credit Union in Jacksonville changed its tagline. In addition, the U.S. Patent and Trademark Office was sent a notification that the dispute regarding Achieva Credit Union's opposition to VyStar's catchphrase was settled, a court filing shows.
VyStar CU asked a federal judge to grant a declaratory judgement in October that would have allowed it to use the tagline, "Do Good. Bank Better." The credit union filed its lawsuit after the $2.4 billion Achieva CU submitted a notice of opposition with the USPTO regarding VyStar's application to trademark the tagline.
Achieva argued that VyStar's tagline, "Do Good. Bank Better." would create consumer confusion because it is similar to Achieva's tagline, "Banking for Good," a registered trademark. Vystar contended, however, that the two taglines do not look the same, sound the same or mean the same things.
Nevertheless, VyStar has changed its tagline to "Bank Better," the home page of its website shows, though an October press release announcing its "Do Good. Bank Better." brand campaign remains listed on the credit union's newsroom site as of Friday.
A document filed in federal court indicates USPTO was notified the case has been settled, making Achieva's action to stop VyStar from trademarking its disputed tagline moot.
When reached by CU Times, lawyers for VyStar CU declined comment. Achieva CU's attorneys did not respond to CU Times request for comment.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
