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.
Bike enthusiast Cody Stringer is betting his bike share nonprofit will lead to a more bike-friendly city.
As employees are more mobile and have a desire to work from home, Haden Long owner of Ellecor, explains office spaces are trending towards a more home-like feel. Things like shared work spaces, office pets, and cozy furnishings allow employees to be selective about where they work and become more effective as a result.
Every industry has to navigate trend shifts, but Scott Shotts of Missouri Spirits describes the changes in beverage industry as anarchy. Tried-and-true spirits rules are being ignored. Learn how the local distillery balances following the trends for product development with taking risks.
Kevin Wyas, founder of ECRI, started his first business at the age of 19, ran the business for 16 years before selling it. He recognizes the benefits of starting a business so young when he had relatively little to lose. "The stress and the uncertainty of this would be crippling," he says for somebody accustomed to a regular paycheck.
ighty percent of questions are common across industries, so you don't need industry-specific experience to do effective market research according to Debra Kassarjian, independent consultant and owner of DKInsights. As a matter of fact, she thinks there is a great deal to be gained from exchanging ideas outside of your industry.
Danny Collins, 37 North founder and guide, says the biggest leap they took in the first year was to purchase a vehicle. That major financial investment, however, allowed them to provide their outdoor guide services at a price point they felt was more appropriate.
Springfield Diner owner Ömer Önder sits down with a restaurant consultant who starts challenging the menu offerings."No bashful food." The blunt conversation is the launching off point to determine how the Mediterranean influence will affect the young restaurant's offerings in the future. Made to Order is an ongoing sbjLive documentary series in collaboration with Springfield Business Journal tracking the rebranding of a local restaurant.
Haden Long, owner of Ellecor, opened a retail home decor business five years ago in a traditional retail space. When the interior design side of the business took off, she decided to renovate a 100-year old bungalow to better show off product samples and installations.
Scott Shotts, partner with Missouri Spirits, says when they started in 2011 there were approximately 300 distilleries in the U.S. and now there are more than 3,000 so competition has grown significantly. Diversification of their business model has helped them succeed.
Matthew Blystone of Theta Float Spa had the financial means to start the unique business, but used crowdsourcing for pre-orders to determine market interest in addition to gathering a nice cash reserve before opening.
Avery Parrish with the Springfield Regional Arts Council explains how businesses can display local art in their spaces for a fraction of the price of investing in a permanent collection. The corporate partnership program allows a business to select from a customized portfolio of local artists' work curated based on the company's mission and aesthetic that can be switched out every six or 12 months.