Deere & Co. Wants Its Name Back FromCUs

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MOLINE, Ill. - (12/22/04) -- Deere & Company, the iconicAmerican manufacturer of farm and lawn equipment, has asked threeof the four credit unions using a portion of the John Deere name tochange their names and eliminate the corporate moniker from thetitles. The company stressed its request was not related to anyproblems at the credit unions but said it wants to avoid anyimplied direct affiliation or subsidiary relationship between thecorporation and the credit unions. The three credit unions areWaterloo-based John Deere Community CU, Iowa's biggest creditunion; Deere Harvester CU, East Moline, Ill., and Deere CommunityFCU, Ottumwa, Iowa. While all were chartered to serve employees ofDeere & Co., they have all expanded their charters and nowserve a variety of communities and select groups. The fourthDeere-related credit union, Deere & Co. CU, Moline, Ill., willalso change its name but will be allowed to retain the companyreference because its field of membership is limited to Deere &Co. employees and their families.

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