The League of State Credit Unions representing North and South Dakota has changed its name for the third time in 13 years, although the change is minor.
League CEO Jeff Olson announced Tuesday at the group’s summit in Sioux Falls, SD, that the trade association had changed its name from Credit Union Association of the Dakotas to Dakota Credit Union Association.
Separate leagues for the two states joined forces into a single organization in 2007 under the name of Mid-America Credit Union Association, renamed CUAD a few years later.
âWe knew we had an identity problem when we had to continually explain to lawmakers and community leaders who we were and where we came from,â Olson said in a press release. “Of course, we just started calling ourselves Dakota Credit Unions.”
He added that the new branding reflects that the two states have a lot in common, including geography, weather and economies, as well as culture and traditions.
âLike our credit unions and individual credit union members, our association is evolving, growing and modernizing, while maintaining our proud heritage when we were officially a Dakota. It’s who we are and who we represent – no further explanation is needed, âhe added.
The Dakota Credit Union Association is the last common league to change its name. Last year, the New Jersey and Pennsylvania leagues announced plans to join forces and rebrand themselves as the CrossState Credit Union Association.
North and South Dakota are home to over 70 credit unions with combined assets of over $ 7.6 billion and over 500,000 members.