Credit Unions Changing Names Along With FOMs

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SCHENECTADY, N.Y.-First Teachers FCU here has changed its name to First New York FCU. The name change follows a charter expansion to serve anyone in five counties in the Capital Region: Albany, Schenectady, Saratoga, Renesselaer and Schoharie. Founded in 1937 as Schenectady Teachers FCU, it has $165-million in assets and serves 25,000 members.

BURLINGTON, Vt.-Vermont Development CU said it will change its name to Opportunities CU, effective Feb. 1. The $33-million credit union said the name change would allow it to better reflect its mission and help reduce confusion among other Vermont credit unions.

WESTBROOK, Maine-Effective Jan. 1, three Maine credit unions changed their names. Dexter Regional FCU, Dexter, is now Maine Highlands FCU; Maine State ECU, Augusta, is now Maine State CU; and Portland-based Medical Services FCU is now TruChoice FCU. Maine State and Medical Services changed names due to expanded FOMs. Dexter Regional has expanded its branch network.

ERIE, Penn.-The credit union that was last alphabetically in the U.S. now no longer lasts. Zurn Community FCU has merged into Erie Community Credit Union, bringing combined total membership to 17,000 with assets of $80 million. The former Zurn headquarters will serve as the west side branch for the merged credit union. Zoar Methodist Church Credit Union, also in Pennsylvania, now claims the title of the last CU alphabetically.

GREENVILLE, S.C.-Sirrine FCU has changed its name to Community 1 FCU and named Rick Leonardi its new CEO. The name change comes as a result of the CU's conversion to a community charter in 2001. Prior to the conversion, the CU served employees of JE Sirrine Company and several small SEGs. Leonardi has 20 years of experience in the financial services industry and most recently provided guidance and troubleshooting services to a struggling credit union in the Southeast at the behest of NCUA.

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