Red River Mill FCU held a soft unveiling July 3 of its new name: Engage FCU with the tagline “Banking for Everyone.” The name change is meant to better reflect the credit union’s expanded service area and promote financial inclusion.
The “Engage” name idea was selected from an internal source, who was ineligible for the $500 prize. So the names of everyone who submitted an idea were placed into a jar and a name was drawn for the winner: David Moscatelli.
“I want to thank everyone who participated in our contest,” said CEO Kathy Deloney. “The response was overwhelming. I also want to thank our Board of Directors, our staff for their enduring support, and our members for trusting us to be your financial partner.”
In the coming weeks, the credit union will roll out its new logo and branding along with special promotions.
Since 1975, Red River Mill FCU has served as the primary financial institution for employees and families of the Red River Paper Mill. Over the years, its mission to provide safe and affordable financial products and services has remained the same.
In 2013, Red River Mill FCU received approval from the NCUA to expand its services to meet the needs of everyone in the community. The credit union was officially certified as a Community Development Financial Institution (CDFI) by the US Treasury in 2014. As a CDFI, Red River Mill FCU has competed and won more than $1 million in grant funding, allowing the development of products such as payday alternative loans, a wheels to work program, and financial assistance to those having credit challenges or those who lack savings for down payments.
“Our hope and intention is that everyone feels welcome to join our more than 1,300 members and come ‘engage’ with us for all their financial needs,” said Deloney. “We chose the tagline ‘Banking for Everyone,’ which we believe sends the message that our financial products and services are available to everyone who lives and works in our communities.”
The name change contest was announced April 23 and there were nearly 200 entries. There were many great suggestions, however, the credit union’s regulators have strict guidelines that precluded many of the ideas.
Engage FCU focuses on offering products and services that break down the roadblocks to financial success for individuals and small businesses. It is compelled by its mission and supported by its Board of Directors to offer the highest returns on savings and the lowest rates on loans.
“We look forward to working with each member individually and encourage the community to ‘engage’ with us as we provide counseling, education and support every step of the way as you build your financial future,” said Deloney. “We will assist you with your budget and work with you to build your credit.”