This year University of Iowa Community Credit Union (UICCU) will be changing its name to GreenState Credit Union. Here are answers to more common questions:
- Why is the UICCU changing its name?
In 2018 Iowa lawmakers passed legislation stating that credit unions shall not include the name of any public university located in the state in its name. This required University of Iowa Community Credit Union (UICCU) to change its name in 2019.
- When will the name change occur?
We have met the April 30 legal deadline to change our name on our articles of incorporation. The actual change to signage, documents, etc will occur in June and July.
- Will the change impact the products, services, staff, account numbers, routing number or locations?
No. This will be a change in name only. There will not be a change to staff, branches, products, or member account numbers. There will be no need to order new debit cards, credit cards, or checks. Our routing number will not change.
- Will my checks, debit card, and credit card still work if they have the old UICCU logo?
Yes. Once your cards expire or you run out of checks, the new ones will carry the new logo. Since account numbers and our routing number are not changing, the cards and checks will still work.
- What will the new logo look like?
- What is the name history of our credit union?
Our cooperative was established in 1938 as the State University of Iowa Hospital Employees Credit Union. It was created to serve the staff of the University hospital. In 1966 it expanded to serve all staff, students, and alumni when it became the University of Iowa Credit Union. In 1988, the word "community" was added to the name when UICCU expanded its charter to serve residents that were not necessarily tied to the University of Iowa.
- What process have we followed since the law passed in 2018?
We first reached out to our members and received thousands of name ideas to consider. A committee comprised of staff, volunteer Board, and members narrowed the ideas down to a few that were reviewed by trademark attorneys. These selections were then tested in interviews with random Iowans. Ultimately the UICCU Board of Directors unanimously selected one name and we submitted our application for trademark. On April 2nd, the name was cleared by the United States Patent and Trademark Office. In June the logo was cleared as well.
- How did we arrive at that name idea?
GreenState was inspired by a member who came back to Iowa after a long time away. From the rolling valleys of farm ground to the trees that speckle our landscape, Iowa appeared to them as a warm welcoming quilt of green. In order to pay tribute to our birthplace, we chose GreenState, and have since developed a logo representing the diverse and vibrant colors of Iowa.
- What guidelines did you follow in creating the name?
We wanted a name that is simple and not geographically constraining. We worked to create a name that is welcoming and reflective of the cooperative's Midwestern heritage.
- Did the members vote to approve the new name?
Current Credit Union law does not require a membership vote for a name change.
- Will a name change inhibit our success?
We measure "success" by how much we give back to our members, staff, and the communities we serve. While we respect our heritage, nothing will change our commitment to serve these three stakeholders. In fact, if we can keep improving in these three areas, we predict our success will be even greater.
- What will the name change cost the cooperative?
We estimate the cost of a name change (signage, documents, collateral material, card plastics, trademarks, programming, communications, etc.) to be roughly $3.5 million. For perspective, this estimate is 1% of our projected annual revenue.
- What will the new web address be?
It will be www.greenstate.org. Those trying to reach the old address will be automatically forwarded.
- Will I need to download a new app for mobile banking?
Yes. We will notify the members when this is ready. It will not require re-enrollment and your old password will still work to log in.
- Is the credit union making a political statement with the new name?
No. Green for us is life, health and new growth. It is money back in your pocket. It's also a reflection of the agricultural state in which we were born.