The Rules For Name Changes

The NCUA Chartering and FOM Manual says that it is the responsibility of federal credit union organizers or officials to ensure that the name selected does not infringe on the name of any corporation in its trade area. This responsibility also includes researching any service or trademarks. The NCUA will ensure, to the best of its ability, that the name chosen is not already being officially used by another federal CU. Once the name has been approved, the CU has 180 days to change its signage and promotional material. Members can continue to use their checks with the old name until depleted.

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Meanwhile, NAFCU reported that recent statistics show that 10% of all CUs have community charters, 48% have multiple sponsors, and 42% are still single sponsor organizations.


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