Eyeing growth, Cleveland teachers' credit union rebrands
A Cleveland-based educators’ credit union is rebranding to help better position itself for growth.
School Employees Loraine County Credit Union, or SELCCU, has changed its name to Achieve Credit Union, effective Jan. 2.
“We have come to realize that in order to maintain a strong, viable presence within the communities we serve we needed to take a look at a variety of factors surrounding the products and services we offer, our technological capabilities, and our overall awareness and perception among those who do not belong to SELCCU yet but could greatly benefit from our services,” CEO Neil Sommers said in a press release.
Sommers added, that management didn’t “want our name to hinder us in the eyes of nonmembers, thinking they were unable to belong to the credit union.”
Achieve is one of many credit unions in recent years to transition away from older branding. Many CUs have moved away from branding that still reflects an original sponsor group but could seem to present a limited audience rather than the current field of membership the credit union has the potential to serve.
Credit union officials emphasized that the rebrand is not the result of a merger or other structural change to the institution.
“We are still the same credit union with the team our members have come to know and respect – going above and beyond to help our members and their family’s financial wellbeing,” said Tiphaney Grossestreuer, marketing manager. “We’re excited to roll the new brand out over the coming weeks and months from updates to our website, to branch signage and all other elements. We really want to showcase this new brand and that we are a solid, modern and growing credit union.”
Achieve CU posted a net income of over $628,000 during the first three quarters of 2019, according to its most recent call report. That would put on track to meet or exceed its 2018 total net income of nearly $860,000. Net income rose by more than 28% between 2017 and 2018.