The former California State & Federal Employees’ Credit Union announced it has officially changed its name to Compass Community Credit Union.
Based in Eureka, Calif., the credit union serves about 5,400 members.
The credit union noted that last autumn the California Department of Business Oversight approved a field of membership expansion to allow the credit union to serve those who live, work or worship in Humboldt, Del Norte or Trinity counties.
Previous to that, membership was only open to federal or state employees, current or retired members of the United States Armed Forces and faculty and students of Humboldt State University in Arcata, Calif.
The new name and logo, the credit union added, incorporates both attributes from the surrounding area, as well as the new tag line, “Guiding you to better banking.”
The credit union also noted that it had asked its members to suggest ideas for a new name.
“We received a lot of names and were overwhelmed by the incredible response from our members,” said Compass Community CU CEO, Ray Litchfield. “We value our members and wanted them to be involved in this process. We are so pleased by the amount of support and participation shown by our members.”
Litchfield added that now more people have the opportunity “to join and with our new name, Compass Community Credit Union, this will better reflect who we are. We want people in the local community to think of us for their banking needs.”
The credit union posted net income of about $ 1.1 million in 2017, up from $766,000 in the prior year.