Vermont State Employees CU Members Reject Name Change Again

MONTPELIER, Vt. – Members of Vermont State Employees CU voted down a proposal to change the name of the state’s second largest credit union to Veristate CU, the second time members rejected a name change. Almost 11,000 of the $375 million credit union’s 38,000 eligible members cast a vote, with the name-change, which required a two-thirds majority, losing by a 52% to 48% margin. Members also voted against a name change in 2001, when only those voting in person were allowed to cast a ballot. Since then the credit union has changed its bylaws to allow mail-in balloting. Last month, members of University of Iowa Community CU also voted to reject a name-change, just hours before it was scheduled to take effect. In both cases, Weber Marketing Group had developed the proposed new names.