Going Global: Credit union grows from Alaska to international opportunities.

• Author: Barbour, Tracy

In April, Alaska USA Federal Credit Union began operating under a new name--Global Credit Unionto symbolize its expanded service worldwide and bold aspirations for the future. The name change followed its August acquisition of Spokane, Washington-based Global Credit Union, which created one of the fifteen largest credit unions in the nation.

The rebranded financial institution now operates seventy-nine branches in Alaska, Arizona, California, Idaho, Washington, and Italy; has more than 2,200 employees and 750,000 members; and holds $12 billion in assets. A member-owned, not-forprofit cooperative, Global Credit Union offers a full range of financial services, including checking and savings accounts, consumer loans, real estate loans, mortgage loans, credit cards, business services, and personal insurance.

When the two institutions officially merged last year, Alaska USA was operating sixty-seven branches in Alaska, Arizona, California, and Washington, with nearly 2,000 employees serving more than 700,000 members. Spokane's Global had 45,000 members, twelve branches in Washington and Idaho, and three additional branches on US military installations in Italy Although Global was the smaller of the two entities, Alaska USA opted to assume its name for various strategic reasons.

The name "Global Credit Union" supports Alaska USA's future growth, according to President and CEO Geoff Lundfelt. The appellation is also recognizable, easy to associate, and matches the credit union's geographic trajectory. "The Global Credit Union name reflects our future and represents the diversity of our membership, which spans all fifty states and over twenty countries," Lundfelt says. "The new brand is a better representation of the geographical diversity that our membership represents."

Jettisoning a brand that's so familiar to Alaskans comes with some uncertainty. However, Lundfelt accepts the risk: "We're changing our name because it's important for the longterm financial health and stability of the organization. This was an inflection point, and I promise you it was not an easy decision. Important decisions are rarely easy in our personal or professional lives. Were going to be a 75-year-old company this year. We don't manage to financial quarters; we manage to quarter centuries so that we can continue to serve the generations to come."

Commitment to Alaska

The name change ripples down to the credit union's subsidiaries and other organizations. Alaska USA Insurance Brokers was changed to Global Credit Union Insurance Brokers, and Alaska USA Mortgage Company is now Global Credit Union Home Loans. Alaska USA Financial Planning and...