Members to Vote Another CU Name Change

MONTPELIER, Vt. – Another credit union will give its members the rare opportunity of choosing a new name. Officials at Vermont State Employees CU said the credit union wants to change its name to Veristate CU in order to de-emphasize the ties to state government and emphasize that anyone in seven surrounding counties is eligible to join. While most credit unions change their names by a vote of the Board, at least one other credit union, University of Iowa Community CU, is embroiled in a controversy involving its narrow members vote to change the name to Optiva CU. Members will vote a second time Feb. 28 on the controversial name-change. An average of 350 credit union change their names every year, most of them by vote of the board. Vermont State Employees CU said a name change must be approved by a two-thirds vote among its 42,000 members, who will be voting by mail ballot and at a special meeting on March 26.