Credit Union of the Year More than $500M Liberty Federal Credit Union Evansville, Indiana In 2022, Liberty Federal Credit Union achieved remarkable, quantifiable success in meeting its members’ needs—all while undergoing a brand change that would enable the credit union to serve even more members. In May 2022, Evansville Teachers Federal Credit Union (ETFCU) announced it would rebrand as Liberty Federal Credit Union, an undertaking that would not be easy for a $3 billion credit union with 29 branches. Although the credit union had grown into new markets, the majority of ETFCU members remained in Evansville and the neighboring communities. However, a rebrand was essential to the credit union’s survival in the nearby markets of Nashville and Louisville. Over the months that followed, the credit union communicated thoroughly with members to let them know not only how the rebrand might affect their day-to-day banking, but also how the rebrand would benefit them individually. By enabling the credit union to grow more effectively throughout its entire branch footprint, Liberty Federal Credit Union would be able to return more value to both its membership and the communities it served. By the end of 2022, the rebrand was complete and Liberty Federal Credit Union celebrated an unprecedented year of success in serving its members. The credit union returned more value to its membership than ever before, returning $15.5 million through checking accounts alone in the form of dividends, ATM fee reimbursement and reward points. These returns represent a 19% increase over the credit union’s previous record of $13 million in value returned to members through checking accounts. To top it off, Liberty Federal Credit Union was named Best Credit Union for Checking by Investopedia and one of the nation’s top 40 financial institutions by Newsweek. Even amid the brand change, more members trusted Liberty for first mortgage originations in 2022 than any other financial institution in the Evansville metropolitan service area. According to the American Credit Union Mortgage Association, Liberty ranked first among all credit unions in its region in first mortgage originations, and it ranked 19th nationally. With total year-end assets of $3.45 billion, Liberty Federal Credit Union was the only credit union smaller than $7.9 billion in the top 20. In addition, for the first time in its history, Liberty surpassed $1 million in community involvement through sponsorships, scholarships and donations. During a year of remarkable change, Liberty Federal Credit Union achieved remarkable success. The credit union welcomed 18,703 new members and, most notably, it established a pathway for better attracting and serving members throughout its future. 30 THE NAFCU JOURNAL September–October 2023
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