Posts Tagged ‘Matt Vance’

Don’t change your name to an acronym

September 14, 2007

Soooo many credit unions are jumping on the acronym bandwagon. Yes, the words “credit union” are a mouthful, and even worse are the “Federal Credit Unions” who are legally obligated to use all three words in their name. But please, resist the temptation to shorten your name to acronyms. We see it all the time. Unfortunately, this change makes your name more generic and therefore more forgettable with your members and potential members. STCU, BECU, BCU, DCU, DFCU, MECU, GECU, just to name a few of the large ones.

But here’s a new angle on why you should be extra careful before deciding to shorten your CU’s name to its acronym. Think about what it is going to sound like when you call up a member on the phone. Think about what it is going to sound like when the receptionist answers the phone… which will happen 20 or 30 or 40 or 50 times per day. We all know how funny Washington Telephone Federal Credit Union looks when they shorten their name to WTFCU. But here’s a new twist that I learned from my new friend Matt Vance who I met last night at the Washington CU League’s annual convention in Spokane. He works at Industrial Credit Union, and they have recently made the decision to refer to themselves as ICU. It can be interpreted in at least two different ways. It could be “I see you.” Or, it could be short for Intensive Care Unit. Imagine Matt’s dismay when he caused panic in a vendor by calling her back and saying, “Hi, this is Matt from ICU.” The vendor’s first reaction was panic, thinking that her husband, who was in the hospital, had taken a turn for the worse.

When it comes to using the acronym instead of your full credit union name…. just say no!

Washington CUs descend upon Spokane

September 12, 2007

After giving a talk about Bringing Your CU into World 2.0 to the Credit Union Association of Oregon in Tigard, I flew up to Spokane to join the festivities at the Washington CU League’s annual convention. Upon checking in at the conference hotel, I immediately recognized Trey Reeme of Trabian and OpenSource CU in the hotel lobby, and said hi before he had to go prepare for his talk the following morning. Trey let me know that Robbie Wright was still up and about, and so I also got to finally meet him in person, as well as fellow Trabian, Brent Dixon. Also in the mix were Matt Vance, Marketing Director for Industrial CU, David Bennett, Director of Public Relations for the league, Benny Haagen, Director of Lending for Educational Community CU in Everett, and Gaye White, Branch Manager at Peninsula Community Federal CU on the Olympic Peninsula.