NRL Federal Credit Union in Alexandria, Virginia, is becoming Spectra Credit Union.
The $550 million-asset institution said in a press release Tuesday that it will take the new name Oct. 12.
“We sought a name that reflects the Naval Research Lab foundation while also projecting the inclusiveness that is at the core of our mission. The term Spectra does both. We have confidence that rebranding will help the credit union reach its full potential,” Mary Kappus, chairperson of the credit union, said in the press release.
The new brand emphasizes diversity, equity and inclusion, corporate social responsibility and a commitment to support the credit union's local communities, the company said.
More than 60% of the credit union’s staff are people of color, and the organization is primarily led by women, including the CEO, chief financial officer and chief operating officer.
“Our founders at NRL are innovators. They inspire us to stay on a constant search for better, faster, stronger solutions to our members’ everyday financial challenges,” said CEO Kristin Shultz.
The credit union was founded in 1946. It serves more than 24,000 members.
