Credit Unions in New Mexico & Maryland Reveal New Names

Sunward’s new logo. (Credit/gosunward.org)

Long acronyms representing Select Employer Groups are out and inspiring single-word names are in, at least according to two credit unions that recently announced they renamed themselves.On Monday, the $4.1 billion, Albuquerque, N.M.-based Sandia Laboratory Federal Credit Union, which was founded in 1948 by 15 Sandia National Laboratories Employees, revealed its new name: Sunward.According to a landing page on Sunward’s website, the name change “symbolizes the first step in a journey” toward “refreshing its vision of what banking can be” as it looks ahead to its next 75 years in business. Sunward said it chose the name after surveying and leading focus groups with employees, members and potential members.“The name is an adverb meaning, ‘towards the sun,’ and symbolizes a source of energy, light and life, combined with moving forward to financial prosperity,” an FAQ section on its website read. “Looking Sunward represents, above all else, innovation and optimism for the future.”To coincide with the name change, Sunward said it rolled out a new program, Sunward+, which rewards members with benefits such as premium debit cards, cash back on auto loans and closing credits on home loans based on their relationship tier with the credit union. The credit union also launched Instant Direct Deposit, which gives members access to their direct deposit at least two days early when deposited into their Sunward checking account, and a three-month CD at 4.35% APY promotion that runs through the end of the year. What’s more, Sunward said it plans to offer new two-way texting functionality between loan officers and members.Members will soon receive new credit and debit cards reflecting the new name and brand, and Sunward’s branches are being updated to showcase the new name as well, the credit union said.