LAWRENCEVILLE, Ga. — Employees of the $18.7-million Clarke Community FCU felt better about becoming part of the $148-million Gwinnett FCU when they learned their CU would be keeping its name.
Marshall Boutwell, GFCU CEO, made the decision to allow Clarke Community to run as a division of Gwinnett because "retaining a brand that had worked for 40 years made sense," he said. "Members understand what Clarke is about, and we don't have to re-educate the community."
None of Clarke Community's 15 employees lost their jobs through the just-completed merger, and where there was overlap, staff were redeployed. "There was no loss of identity, and the logos Clarke staff wear on their shirts today look amazingly similar to what they had before," Boutwell pointed out.
Concern over the mindset of CCFCU employees played a role in the decision to run Clarke as a separate division, Boutwell acknowledged. "It's important how employees feel about where they work. Their credit union's name was well known. We wanted to send a message to folks closest to the credit union that we respect their heritage and want to continue their legacy."
Boutwell understands that the decision comes at a price. "But the extra costs are not that great," he said. "You have to modify marketing a little bit, and our website and newsletters. Clarke is keeping many of its core products and taking on additional services that it did not have."
The CEO's position at Clarke is not being filled and its board has been dissolved. But Boutwell expects that many directors will stay involved through an advisory board.
"We believe this is very good for us," said Boutwell about the decision to run Clarke as a separate division. GFCU is sound financially, with an 8.8% capital ratio and 15% growth so far this year.
Culturally, there is not much difference between Clarke and Gwinnett, Boutwell added. "But we didn't change their name because we wanted to show our commitment to the employees and members. I can't think of a better recipe for success. However, the proof of the pudding is in the tasting."
