The $11.9 billion Alaska US Federal Credit Union announced Thursday that it will drop its geographic name and replace it with the expanded Global Credit Union. The move came as a result of a recent update to the credit union charter when Global Credit Union was incorporated in Alaska USA – allowing anyone to work for the US Department of Defense, anywhere in the world, to join the credit union.
According to a statement from the Anchorage, Alaska-based credit union, it will begin operating as a Global Credit Union on April 3. The headquarters will remain in Anchorage and both the board of directors and management will remain.
In August Alaska USA and Spokane, Wash.-based Global Credit Union merged, which created a credit union with 76 physical branches in Washington, Alaska, California, Idaho and Arizona. The merger also included Global’s subsidiaries at military bases in Italy.
President/CEO Geoff Lundfelt said that despite the name change, nothing will change for its more than 760,000 members located in all 50 states and more than 20 foreign countries.
“As this name change is implemented, our customers will continue to receive the products and professional services they have come to know and expect from us,” said Lundfelt. “We will continue to see our people in the communities as we interact, participate and invest to make our communities better places to live, work and to play. We are excited to welcome this new chapter and we look forward to strengthening our commitment to our current members and welcoming prospective members as we transition to the new name.
Credit union officials say members will begin seeing and receiving communications about the name change in the coming weeks.