CREDIT UNION REBRANDS
FOR U.S. CREDIT UNIONS | DATA AS OF 03.31.24
© Callahan & Associates | CreditUnions.com
- Credit union name changes occurring outside of a merger have declined slightly since the pandemic. In 2019, 1.51% of all credit unions nationwide underwent a name change. During the pandemic, that percentage dropped to 0.94% and has continued to drop to 0.91% as of Dec. 31, 2023.
- Perhaps not surprisingly given the economic environment, marketing growth bottomed out at -8.8% in the fourth quarter of 2020. It then peaked at 22.3% in the first quarter of 2022. Since then, however, marketing growth has gradually declined, dropping to 0.3% in the first quarter of the year.
- Although growth has dropped, credit unions are not shying away from marketing. Marketing per member increased from $15 at year-end 2019 to $17 as of the first quarter of 2024.
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