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Florida-based IBM credit union reboots and rebrands

One of South Florida’s largest credit unions is saying goodbye to its original name and rebranding to reflect growth beyond its original sponsor group.

IBM Southeast Employees Credit Union, a $1.5 billion-asset institution based in Delray Beach, Fla., will change its name to iTHINK Financial later this year, the credit union announced on its website.

“The new iTHINK Financial name helps to capture what we do best,” the CU said. “Our brand promise ‘Moving You Forward’ is our commitment to helping [members] achieve [their] financial goals.

In coming up with the new name, the credit union’s primary goal was to honor its heritage serving IBM employees while also incorporating what members say they value most about the institution and creating brand awareness to attract new members in the communities it serves.

One of the dominant trends across the industry in the last decade has been credit unions shedding their original branding or names that hewed too closely to the CU’s original sponsor group and could potentially cause confusion about who was eligible to join. The iTHINK Financial branding also hews closely to two other large Florida-based CUs, GTE Financial in Tampa and Addition Financial near Orlando, which rebranded last year.

IBM SECU posted $7.57 million in net income during the first three quarters of 2019, the most recent call report data available, a drop of about 7% from the $8.1 million it earned during the same period in 2018.

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