Yakima Valley and Catholic Credit Unions Unveil New Name, Brand

In August, Yakima Valley Credit Union (YVCU) and Catholic Credit Union (CCU) announced that they would be merging. Now, with the merger officially scheduled to be complete as of Oct. 1, 2011, the two credit unions have announced the name under which the newly-formed credit union will operate: Solarity Credit Union.

Video footage of the Solarity brand launch indicates that the new brand will operate with a member-focused sense of opportunity and collaboration, keying on a slogan of “Engage. Enlighten. Empower.”

In a joint statement, the two credit unions further emphasized their commitment to member service.

“As Solarity Credit Union, we are committed to nurturing people’s dreams and engaging them in achieving their financial aspirations, enlightening them to limitless possibilities, and empowering them to reach life’s most important goals.”

“Solarity is a name that represents energy; the liveliness of our people and the vigor that we put into the communities that we serve,” said Mina Worthington, President/CEO of Yakima Valley Credit Union, who will hold the same position with the newly-formed credit union.

According to data compiled by The Financial Brand, YVCU is currently serving 30,380 members and boasts more than $287 million in assets. CCU adds another 18,000 members and $185 million in assets, putting Solarity at 400th out of 7,443 credit unions according to asset size and within the top five percent of credit unions according to size of membership.

Seattle-based Weber Marketing Group worked with the credit unions in developing branding and naming following the announcement of the merger. According to its website, Weber Marketing “specializes in naming and branding financial institutions across the country,” and is the agency behind a number of rebranded credit unions, including Via, Red Canoe and Copperfin.

In addition to the new name, the logistics of the merger are fairly unique as well, as the Financial Brand reports that the merger is one of the most significant in recent years of two relatively equal-sized credit unions serving the same community. Like YVCU and CCU, Solarity will remain a Yakima-based credit union with membership available to anyone who resides in the state of Washington.

Questions or Concerns? Contact Matt Halvorson, Anthem Editor: mhalvorson@nwcua.org.

Posted in Article Post.