Evansville-based credit union says new name reflects widespread growth
EVANSVILLE, Ind. — Effective in mid-September, Evansville Teachers Federal Credit Union will rebrand, taking up a new name that officials said better reflects the financial institution's growth.
The new name, Liberty Federal Credit Union, is not tied to any recent or pending acquisition. But the credit union's presence across 28 branches in Indiana, Kentucky and Tennessee called for a fresher identity, said Bill Schirmer, president and CEO.
ETFCU on April 30 surpassed $3 billion in assets, said Schirmer, who's been with the credit union since 2012. The company's workforce during that time has grown from 160 to 738, with two-thirds of those jobs in Evansville.
"Our growth has been due in larger part to our focus on value proposition back to our members, through innovative financial products," Schirmer said.
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He said the credit union in 2021 returned $13 million to its members through checking accounts, and over the last two years, the company originated $4 billion in refinanced or new mortgages to nearly 20,000 members.
ETFCU "is, by far, one of the largest mortgage originators in the Midwest," Schirmer said.
The name Liberty Federal Credit Union is more indicative of the company's "widespread and diverse membership," Schirmer said, but the institution "remains rooted in the educational community." ETFCU was founded by local teachers in 1936.
A new branch of the institution will open in Jasper in summer 2023.
Evansville Mayor Lloyd Winnecke said financial institutions are vital to the community.
"They are a key part of our city's success, a large party of our economy," Winnecke said. "Liberty is no different. ... Since 1936, think about the number of first homes, first vehicles or a kid's vehicles or an education you financed. These institutions serve our community with distinction and are really critical to our success."
This article originally appeared on Evansville Courier & Press: Evansville Teachers Federal Credit Union gets new name
