Sb1 Federal Credit Union, a $634-million institution based in Philadelphia, will change its name to Ardent Credit Union, effective June 14.
Launched in 1977 by the employees of the SmithKline Corporation, Sb1 FCU currently has more than 31,000 members and serves the Greater Philadelphia region.
Sb1 FCU explained that the new name will reflect its "entire field of membership and their distinction as a financial institution" as they expand "to serve those who live, work, volunteer, or go to school in the five counties in the Philadelphia region."
Ralph Rubio, marketing manager at Sb1 FCU told Credit Union Journal that the credit union's membership eligibility has not changed as a result of their new name.
"With [our] community charter, [we] have expanded [our] reach to include Bucks, Chester, Delaware, Montgomery, and of course, Philadelphia counties," she said.
He also noted that the name change does not reflect a change in the credit union's federal charter to a state charter.
"While [we] are [still] technically a federal credit union—as all [our] legal documents reflect—[our] focus and goal is to be the credit union of choice in the five-county region [we] cover. From a branding perspective, it's easier to be called… Ardent Credit Union."
"Ardent is a name that's about passion." said Rob Werner, president and CEO of Sb1 FCU in a statement. "It reflects our spirit and drive to serve our members and connects us to our proud Philadelphia roots. The name Ardent stands for everything banking should be—passionate, caring, and intensely devoted to the people we serve."
