THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Monday, March 4, 1996 TAG: 9603020158
SECTION: BUSINESS WEEKLY PAGE: 05 EDITION: FINAL
LENGTH: Short : 36 lines
Hampton Roads is a wellspring of credit unions named for navies, yards and forts. But the names are changing.
First, Naval Air Federal Credit Union in Norfolk became Chartway Federal Credit Union in January.
Newport News Shipbuilding Employees Credit Union's board proposed a change to Shipbuilders First Credit Union.
And, Fort Eustis Federal Credit Union in Newport News launched a new name contest. It received nearly 3,000 entries. It'll choose a name by late March.
What's going on here? Well, it's actually happening nationwide.
``So many bases have downsized, closed or are on a list for closing that they must change their membership base to include people outside of that original membership,'' said Cherie Umbel of the National Credit Union Administration.
At least one Tidewater CU will stand firm: Atlantic Fleet Federal Credit Union in Norfolk. After reading our account of Naval Air's name change, Atlantic Fleet president Susan Hunt wrote us:
``I felt many readers may have the impression that all local credit unions will eventually pull away from the local Navy community due to industry trends. We have been fortunate to see increases in the military presence in our area. I want to reassure your readers many credit unions do serve their core employee groups and will continue. My credit union, for one, is dedicated to serving the local retired and active duty military and has been for over 44 years.'' by CNB