The $110-million Southern Massachusetts Credit Union here is reporting steady growth after changing its name recently from that it held for its first 81 years: Massachusetts Telephone Workers Credit Union.
The credit union made the name change following a field of membership expansion to include all of the people of Bristol, Barnstable, and Plymouth counties. "The former name just did not clearly convey the opportunity that every person in the region (even persons not in the telecommunications industry) was now eligible to join the credit union," noted D. Hilton Associates, The Woodlands, Texas.-based firm that has assisted in overseeing the process. D. Hilton Associates tackled the issue of a new name by conducting a brand image study of the credit union.
The study included a random membership survey, as well as employee and board surveys, that sought insight on topics such as: personal perceptions, unique features, service experiences, and images associated with the current name of the credit union. One of the key findings from the survey indicated that a large majority of the membership was not aware that others within the community were eligible for membership, D. Hilton said.
