Bethalto, Illinois-Monday, August 9, 2010--The Board of Directors of Olin Community Credit Union is announcing a new name for the credit union. The new name, 1st MidAmerica Credit Union, will be replacing Olin Community Credit Union on October 1, 2010. The new name reflects the credit union's goal to be first in developing lifetime financial partnerships by providing personalized service and solutions to its members. The new name is also a better reflection of the members and communities served by the credit union.
"The board of directors and executive team have performed extensive research and evaluation in arriving at this decision," said Don Reedy, President and CEO of the credit union.
Although the credit union's doors have been open to the residents of the communities they serve for many years, a persistent and common misperception remains. In general, credit union research has found that local residents believe membership is still exclusive to Olin employees. The name 1st MidAmerica Credit Union better identifies with the members and communities within the credit union's nine county field of membership.
"As more local residents realize the benefits of membership with our credit union, our membership as a whole will benefit from growth, through expanded services, a continuing focus on member service and an ongoing commitment to competitive rates," stated Reedy.
The credit union has not sold or merged with another credit union. The credit union is very strong and well capitalized. The staff, friendly service and commitment to the membership will remain the same. Credit union services will not change and will continue to function as they always have.
More information regarding the name change, including a series of answers to specific member questions, can be found online at www.olincreditunion.org.