PLANO, Texas – Fast-growing EDS CU, struggling with its identity after the 2008 acquisition of its corporate sponsor by Hewlett-Packard, this week changed its name to InTouch CU.
"As we look to enhance our financial position through sponsor companies, member and geographic growth in the communities served, changing our name was important to our future growth," said Kent Lugrand, president of the $850 million credit union.
"Our reason for being is to be ‘in touch’ with what our members want, and we will passionately work for their financial well-being – as we have from the very beginning," Lugrand added.
The credit union, chartered to serve employees of Electronic Data Systems, has been expanding its out-of-state presence over the past two years. In November it acquired the remnants of failed Las Vegas-based Ensign FCU. It now operates 20 branches in six states, including Texas, Nevada, California, Virginia, Michigan and Pennsylvania.
