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CU Community Credit Union changes name

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The 85-year-old CU Community Credit Union is now Multipli Credit Union.

Company officials announced the branding change in a video posted this week on Facebook.

“It is not a buyout. It is not a merger. It is simply that we felt we needed to change our name for the future,” CEO Judy Hadsall said in the video. “We hope that it will open people’s eyes that we can serve anybody in the community.”

CU General Manager Scott Miller said confusion existed with the previous CU Community Credit Union name, leading some to think it was only for CU employees or retirees.

“I’ve often felt that the name we have today is limiting as far as the business model for the credit union,” he said in the video.

The credit union launched in 1934, originally as a fund for City Utilities of Springfield employees. It’s since expanded to cover people who live or work in a seven-county area of southwest Missouri, as well as employees of select companies.

The business ranked fourth on Springfield Business Journal’s list of the largest credit unions, published April 2, 2018. The credit union reported $111.6 million in 2017 assets, $91.6 million in deposits, $56.5 million in loans and 11,300 members.

Multipli’s website lists three locations.

Multipli joins other local credit unions that have rebranded in recent years. Community Financial Credit Union announced a name change to Volt Credit Union last year, and market leader BluCurrent Credit Union previously was Springfield Postal Employees Credit Union.

With its name change, Volt Credit Union also is investing over $2 million for an 11,000-square-foot office at 2624 W. Republic Road, Springfield Business Journal previously reported. It’s expected to be completed this month.

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