Methodist credit union's rebrand part of broader trend
United Methodist Financial Credit Union in Cincinnati is rebranding as Christian Family Credit Union in an attempt to broaden its member base.
Christian Family is the second credit union serving the Methodist community to rebrand in recent months.
Russ Abbott, president and CEO of the $86.4 million-asset institution, said in a press release Monday the new name is intended to represent the credit union’s willingness to serve those well beyond the Methodist fold. Previously, the credit union was targeting clergy, area churches and their members, and those affiliated with the United Methodist Church in eastern and western Ohio and Indiana.
Christian Family partnered with Minnesota-based branding firm the BA Group, and CEO Amy Herbig said the new name “allows the credit union to differentiate themselves in order to attract and acquire the potential membership out there looking for a financial relationship where they can combine their Christian faith with their finances to help them reach their dreams and goals.”
“Our commitment to the people and the ministries of the United Methodist Church remains strong and unchanged, now with the ability to expand our reach and services to other Christians within the state of Ohio,” said Abbott.
The number of religiously affiliated credit unions continues to dwindle, as more CUs attempt to broaden their reach to diversify their fields of membership and rebrand to less specific names. Christian Family is privately insured, but data from the National Credit Union Administration shows fewer than 10 federally insured Methodist credit unions, compared with about 21 active institutions with "Catholic" in their name.
Christian Family CU is insured by American Share Insurance. According to ASI data, it earned more than $88,000 during the first half of 2020. Year-over-year figures are not available, but net income stood at about $333,000 at the end of 2019.