Deere Community CU To See TheTruth
WATERLOO, Iowa - (07/21/05) -- John Deere Community CU, the state'slargest credit union, has agreed to change its name at the behestof the farm equipment manufacturer to downplay any connections withits chief corporate sponsor. The billion-dollar credit union, oneof four that bear the John Deere moniker, has asked members toapprove the new name Veridian CU, a combination of the Latin'veritas,' or truth, and 'verdant,' meaning green and growing.Credit union officials hope the new name will help celebrate the70-year-old institution's rich heritage of a growing, solidfinancial institution. If approved by members at an August 21special meeting, the new name will take effect January 1, 2006.Earlier this year, Deere & Co., asked three of the four creditunions founded to serve it employees, which also includes DeereHarvester CU, in East Moline, Ill., and Deere Community FCU, inOttumwa, Iowa, to change their names so as not to imply any formalaffiliation with the company. Deere Harvester CU is also changingits name to DHCU. Deere & Company CU, in Moline, Ill., will beallowed to keep the Deere name because it is a single sponsorserving only company employees.