GLOVERSVILLE, N.Y. — Fulton County FCU has rebranded itself as First Choice Financial FCU.
The name change has already been approved by NCUA and took effect in late June. The credit union said in a statement that the new name was the result of market research and evaluation by the CU's board of directors.
"The board of directors, management and staff feel this is the best time to position he credit union for future growth and provide the ability to serve more families, friends and neighbors in the communities they serve who need a quality financial institution," the statement said.
Along with the new name, the credit union — originally chartered in 1972 to serve local educators — has converted to a community charter. The new name, the CU said, is meant to better reflect and identify with the members and communities that First Choice Financial FCU serves. Along with the rebrand, the credit union also held a ribbon-cutting ceremony to mark the occasion.
"The credit union's name may be changing, but our employees and the high level of personal service that members have come to know and trust will continue as always," said Timothy R. Myers, president and CEO of the credit union.
First Choice Financial serves nearly 12,000 members with $82 million in assets. It earned more than $876,000 last year, and already had a net income of more than $200,000 as of its March 2014 call report, the most recent data available. It currently has $40 million in loans on the books, concentrated primarily in real estate and auto lending.
