Point Loma Credit Union becomes MyPoint Credit Union
The San Diego-based 71-year-old credit union moves from being location-specific to being people-driven
San Diego, CA, (October 1, 2019) - Point Loma Credit Union today announced its new name, MyPoint Credit Union. The new name is part of a broader strategic initiative that started two years ago to align the overall brand's experience with the needs of consumers and employees today and for the next 70 years.
The credit union got its start in 1948 as Naval Electronics Laboratory Employees Federal Credit Union. In 1967, they became Point Loma Federal Credit Union (PLFCU) in an effort to better represent the people they served. In the mid-nineties, PLFCU realized that the restrictions of the field of membership were not allowing them to realize their full potential. So in 1998, they converted to a state charter and expanded their field of membership to include all who "live, work or worship in San Diego County." In 2002, they added Riverside County to their field of membership. Despite these changes, they elected to retain "Point Loma" in their name.
Since 1998, Point Loma Credit Union has worked hard to educate the community that they are a credit union that serves an area much larger than Point Loma but still found it difficult to overcome the challenges of our geographic location-specific name.
"All that heritage is an important foundation, and we can draw from it when needed. But our past story doesn't have to define our future story. As part of our new branding efforts to stay competitive, we've found the right parts of our past to take into the future," said Peter Butler, senior vice president, and chief operating officer at MyPoint Credit Union. "While we're extraordinarily proud of our Point Loma history, we knew that it was time for a new name. One that honors our past and guides us into the future. One that delivers on a new banking experience that's all about our members and everything they want to do."
Point Loma Credit Union partnered with San Diego-based brand strategy firm Bulldog Drummond to not only change its branding but to also look into the full ecosystem of the credit union. By taking inspiration from other retail industries, they were able to create a new branch experience, a complete People and Culture initiative, and lastly, the new brand identity switching from Navy to Orange and renaming as MyPoint. These changes are the culmination of a full strategic approach that puts people at the center of the organization, including the name.
"The history of Point Loma Credit Union is very important to me. I have been with the credit union since 2001, when I first served as the Senior Vice President of Retail Operations responsible for the marketing, branch network, business development, call center, and training functions. I am now honored to be only its fifth President/CEO in its more than 70-year history," said Dave Brooke, president, and chief executive officer at MyPoint Credit Union.
"Our intent is certainly not to abandon our history but to ensure we remain relevant and grow within our diverse community. That is why we chose MyPoint, a name that still honors our past but positions us well for a successful future. We are still the same credit union with the same people dedicated to serving your financial needs."
MyPoint helps you realize everything you want to do in life and then helps you do it with products and services designed just for you.
- We are moving from being location-specific to becoming people-driven
- Our graphic represents the journey we are helping our members travel through life, from beginning to end
- Using "Point" from our existing name in a new way, MyPoint reminds members that they are the reason we exist and gives them a sense of personal connection right in the name
- MyPoint puts our members first, always
- MyPoint is an essential partner in our members' financial journey
From now until the end of 2019, MyPoint will undergo a transformation from Point Loma Credit Union to MyPoint Credit Union, but our amazing team and dedication will not go anywhere.
Learn more about the new journey for MyPoint Credit Union here.
About MyPoint Credit Union (Formerly Point Loma Credit Union)
MyPoint Credit Union (Formerly Point Loma Credit Union) has been a part of San Diego and the surrounding communities, full of one-of-a-kind businesses and diverse and passionate doers, since 1948. For more than 70 years, they have helped over 30,000 members in seven branch locations make the most out of their finances so they can live life on their own terms. Today, MyPoint Credit Union holds over $500 million in assets and provides a full array of financial products and services, including savings, checking, loans, mortgages, and digital banking options. Also, through the credit union's partnership with the CO-OP network, members have surcharge-free access to more than 30,000 ATMs across the country. MyPoint was recently named 2018 National City Business of the Year and 2018 East County Financial Services Business of the Year.