BILLINGS, Mont. – Avanta FCU is being forced to change its name because of the threat of a lawsuit from Utah’s Avanta Bank Corp, which has has owned a trademark on the name since 1987.
So, on July 1, Avanta, which was known until 2004 as Laurel FCU, will become Altana FCU.
The name change was announced Saturday at the credit union's 60th annual meeting. The name change will cost the $200 million credit union about $80,000, that includes costs to change checks, statements and signage at seven branches.
This time, the credit union hired a trademark attorney this time and has applied for a federal trademark on the Altana name, credit union officials said. Five years ago, the credit union sought and received permission from the state of Montana and from NCUA to use the name Avanta, so credit union officials thought they were safe.
Both Advanta and Altana are neological names, meaning they are made up and don't mean anything or refer to a geographical place. That should make them safer choices in avoiding trademark disputes.
