Jefferson County Federal Credit Union in Louisville, Ky., has rebranded as Advanz Credit Union.
Membership has been open to consumers in seven Kentucky counties and two Indiana counties since 2004, but a press release this week indicated that management had come to realize there were still misconceptions around who was eligible to join.
“Though we knew a name change was necessary, we knew we didn’t want to change the foundation from which we became the credit union we are today,” said CEO Heather Walter. “We want to continue to be able to promise our members that we will provide the same great products and personalized service they’ve come to expect and depend on — helping them advance through every stage in life and achieving their goals.”
The $129 million-asset institution worked on the rebrand with The BA Group, a Minnesota-based agency that frequently works with credit unions.
Walter said the new name “better encompasses and exemplifies who we are as a credit union and the level of service our members have come to expect and appreciate." She added, “We also don’t want our name to hinder us in the eyes of non-members, thinking they are unable to belong to the credit union.”
Advanz earned just under $150,000 during the first quarter, a 37% drop compared to its earnings for the same period last year, according to call report data from the National Credit Union Administration.
