WATERBURY -- There are a lot of changes in the air for the city's oldest financial institution.
Waterbury Firefighters Federal Credit Union, which is preparing to open a new office at 281 Meriden Road in late October after building a 2,500-square-foot building at the site, said this week it will also change its name at the end of July.
As of Monday, July 30, the credit union will change its name to FD Community Federal Credit Union, said Michael Kinne, the credit union's president and chief executive officer.
Established in 1934, the credit union -- which currently has about 8,200 members, 20 employees and total assets of about $60 million -- is the oldest active financial institution that still has its headquarters in Waterbury.
Kinne hopes the name change will increase public awareness that the credit union is open to anyone who lives, works or has any practical connection to Waterbury and eight surrounding towns -- Cheshire, Middlebury, Naugatuck, Plymouth, Prospect, Thomaston, Watertown and Wolcott.
"We believe this new name emphasizes that our credit union is open to all individuals, families and businesses in our area," he said.
The credit union has been steadily moving toward a name change since 2001, when it changed from an employee-based credit union to a community-chartered credit union, Kinne said. The community charter opened the credit union to individuals other than firefighters, municipal employees and their relatives.
"For the past 11 years, anyone who lives, works, worships, attends school or volunteers in Waterbury or the surrounding towns has been able to do their banking with us," Kinne said. "We believe this new, community-driven name will help clarify that ability and virtually eliminate any confusion regarding who can bank with our credit union and reap the many financial benefits of credit union membership."
While the credit union is changing its name, it is not ignoring its history, he said.
"We will never forget our roots and who we are," the CEO wrote in a recent letter to credit union members. "We have always been proud of our name and of our affiliation with the firefighters."
Kinne said the credit union's long-standing affiliation with firefighters guided its efforts to choose a new name. The FD in the new name stand for "fire department" and represents the original firefighters who first organized the credit union, he said.
To help market the new name, the full-service credit union -- which is a nonprofit, member-owned institution — will change the signs at its three Waterbury locations -- its headquarters at 601 Watertown Ave.; a branch at 64 Store Ave., in the East Gate Plaza; and a limited-hours branch at 236 Grand St. that is only open weekdays from 10 a.m. to 2 p.m. The new signs are expected to be in place by July 30, Kinne said.
As of October, the Store Avenue branch will be closed and its personnel will be relocated to the new branch on Meriden Road.
Effective July 30, the credit union's new website address will be www.fdcommunityfcu.org.
Waterbury Firefighters Federal Credit Union, which is preparing to open a new office at 281 Meriden Road in late October after building a 2,500-square-foot building at the site, said this week it will also change its name at the end of July.
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| Michael Kinne, president and CEO of the Waterbury Firefighters Credit Union |
As of Monday, July 30, the credit union will change its name to FD Community Federal Credit Union, said Michael Kinne, the credit union's president and chief executive officer.
Established in 1934, the credit union -- which currently has about 8,200 members, 20 employees and total assets of about $60 million -- is the oldest active financial institution that still has its headquarters in Waterbury.
Kinne hopes the name change will increase public awareness that the credit union is open to anyone who lives, works or has any practical connection to Waterbury and eight surrounding towns -- Cheshire, Middlebury, Naugatuck, Plymouth, Prospect, Thomaston, Watertown and Wolcott.
"We believe this new name emphasizes that our credit union is open to all individuals, families and businesses in our area," he said.
The credit union has been steadily moving toward a name change since 2001, when it changed from an employee-based credit union to a community-chartered credit union, Kinne said. The community charter opened the credit union to individuals other than firefighters, municipal employees and their relatives.
"For the past 11 years, anyone who lives, works, worships, attends school or volunteers in Waterbury or the surrounding towns has been able to do their banking with us," Kinne said. "We believe this new, community-driven name will help clarify that ability and virtually eliminate any confusion regarding who can bank with our credit union and reap the many financial benefits of credit union membership."
While the credit union is changing its name, it is not ignoring its history, he said.
"We will never forget our roots and who we are," the CEO wrote in a recent letter to credit union members. "We have always been proud of our name and of our affiliation with the firefighters."
Kinne said the credit union's long-standing affiliation with firefighters guided its efforts to choose a new name. The FD in the new name stand for "fire department" and represents the original firefighters who first organized the credit union, he said.
To help market the new name, the full-service credit union -- which is a nonprofit, member-owned institution — will change the signs at its three Waterbury locations -- its headquarters at 601 Watertown Ave.; a branch at 64 Store Ave., in the East Gate Plaza; and a limited-hours branch at 236 Grand St. that is only open weekdays from 10 a.m. to 2 p.m. The new signs are expected to be in place by July 30, Kinne said.
As of October, the Store Avenue branch will be closed and its personnel will be relocated to the new branch on Meriden Road.
Effective July 30, the credit union's new website address will be www.fdcommunityfcu.org.
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