Multipli selected as name for combined credit union entity

Multipli Credit Union has been chosen as the name of the entity that combines the Springfield organization with two other credit unions in Missouri.

River Region Credit Union and Missouri Credit Union are slated to complete the name transition to Multipli Credit Union by Nov. 1, said Darren Heckman, chief growth officer for Multipli.

Jefferson City-based River Region Credit Union completed its merger with Springfield-based Multipli Credit Union in July 2024, and Columbia-based Missouri Credit Union members voted in favor of its merger with River Region in April, said Heckman. 

"We felt that [name] both represented who we are and where we want to go and created some consistency in the Springfield market for us," Heckman said this morning of Multipli.

Heckman said the rebranding process to the Multipli name would be an investment north of seven figures.

"It's an extensive process. It's a large investment," he said, noting, however, that "there's some cost efficiencies related with Multipli being the name."

Multipli, now with its headquarters in Jefferson City, will move forward with a combined 11 branches, roughly 65,000 to 70,000 members and $1.3 billion in assets, Heckman said. Three of those locations are in Springfield.

The Multipli Credit Union name was unveiled in 2019, marking a change from CU Community Credit Union, which originally launched in 1934 as a fund for City Utilities of Springfield employees, according to past reporting. 

The combined Multipli is led by President and CEO Rick Nichols, a longtime River Region executive who has family ties to the Springfield region and visits the area often. Its board is comprised of representatives of Multipli, River Region and Missouri Credit Union, Heckman said.

Multipli also is in expansion mode locally, with Chief Financial Officer Greg Snyder telling Springfield Business Journal in March that the organization has plans for a branch in Republic and is eyeing "a couple additional spots for branches in the Springfield area." 

Heckman said this morning that a site has been secured in Republic on Stone Falls Road, off Highway 60. He said a construction timeline has not yet been set for the branch next to a Break Time convenience store.