A Change is Coming
Since our founding in 1957, Clackamas Federal Credit Union has always grown and adapted in response to our members’ needs. Through all these years, we have grown stronger and remained loyal to our members, enhanced access and convenience, and retained and improved our competitive products. We have also continually welcomed more members into our cooperative, including our exciting charter expansion to neighboring counties. These changes are rooted in our credit union commitment of people helping people, and they strengthen our cooperative and improve our ability to serve you.
Today, Clackamas Federal Credit Union is thrilled to announce a decision that will continue our shared legacy and long-term success. We will soon adopt a new name and brand which will better reflect our culture, our commitment to service, and our membership – today and for generations to come. Our new name will be announced after the beginning of the year, and you will be among the first to see the name and our plans for the future.
This decision comes after months of strategic planning to better position the credit union for future growth and success. A new and more distinctive name and brand will enhance our long-term sustainable growth, appeal to diverse audiences, and help us provide great value to current and future members.
Please be assured that the name change is not happening because our credit union was bought out or merged into another financial organization. We are financially strong and sound and will continue to provide all the same services we offer today with pride and passion by our amazing staff.
We look forward to being able to continue to serve and support our members and community. Please take a moment to read the Q&A below, stop by our branch, or reach out to help@clackamasfcu.org with any questions or concerns regarding the coming change at the credit union.
Thank you for your support and confidence in us as we take this exciting next step in our credit union’s history.
Q&A
Q: When will the name change take effect?
A: We will officially change our name on February 1st, 2023.
Q: Is the name change a result of a merger or acquisition?
A: No. The name change is not the result of a merger or acquisition of any kind. We will continue to be owned by you, our members, just as we are today.
Q: Why are you changing the name?
A: We know that our current name is a cause for confusion over membership eligibility, and therefore an obstacle for some in joining our credit union and experiencing everything we have to offer. The volunteer Board of Directors made a unanimous decision to change the credit union’s name in order to lower that barrier of confusion and welcome more members into our unique credit union.
Q: How will you select the new name?
A: We spent many months working with a team of board members and management under the guidance of an experienced and respected branding firm. We expect to announce the new name in January 2023.
Q: Will this name change be expensive?
A: We consider the costs associated with changing our name to be a smart investment in the future of our credit union, and will help us serve more families and businesses in our communities with our purpose of helping to build their financial strength.
Q: What will change with the new name?
A: There will be no impact to your existing relationship with us, or any changes to your day-to-day banking. You will see changes to our exterior signage, brochures, stationery and website beginning February 1st, 2023.
Q: Will the ownership of the credit union remain the same?
A: Yes. The credit union will remain 100% owned by our members.
Q: Will the employees change?
A: The employees that you’ve grown accustomed to serving you will be here ready to provide the same personalized service that you expect.
Q: Will my account numbers change?
A: No. Your account number will remain the same.
Q: If I have automatic payments taken from my account or receive direct deposit, will I need to do anything?
A: No. Everything will stay the same. Our routing number will not change and your account number will remain the same. Therefore, it is not necessary to take any steps to update automatic payments or direct deposit.
Q: How will fees, loan rates, and deposit rates be impacted by the name change?
A: Rates and fees will not be affected by the name change. We will continue to monitor our rates and fees as we always have to ensure high value and return to our members. Rates and fees do fluctuate, as they adjust in response to market conditions.
Q: Will my debit and/or credit card still work?
A: Yes. Your credit card will still work as it always has. Your debit card and PIN will continue to work as they always have. After the name change, credit and debit cards will carry the new name when they are issued as new cards or when existing cards expire and are updated on their regular schedule.
Q: Will I still be able to use my checks?
A: Yes. You can continue using your existing checks until they run out. Upon reorder, you will see the credit union’s new name and logo on your checks.
Q: Who should I contact with additional questions?
A: Please reach out to help@clackamasfcu.org with further questions.