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Providing our members with a wide variety of service choices, convenient account access, and preferred pricing is our top priority. Quality growth is essential to ensure that our future outlook remains bright. This communication discusses an important strategic initiative that will enhance community awareness and membership growth for your Credit Union in the coming years.
Our History: Kentucky Telco Credit Union has played an important role in the financial well-being of our members since 1934. Our first members were Southern Bell Telephone & Telegraph Company (later BellSouth, AT&T) employees. However, the name, product, and service changes of the “Telephone Company” through the years required the Credit Union to diversify its membership in order to remain financially strong. We are proud of our heritage serving telecom employees, businesses, and individuals.
The Plan: The state charter conversion in December 2015 opened the door for Kentucky Telco to serve the Louisville, Lexington, and Owensboro communities. Our interaction with businesses and individuals in these communities indicates that our Credit Union name creates confusion about membership eligibility and is a barrier to potential new members. After carefully considering marketplace conditions and growth objectives, the Board of Directors and Management Team has determined our future success necessitates updating the Credit Union’s name and logo.
The Change: Increasing our name recognition is a key challenge as we strive to acquire new members in the communities we serve. A new name will invite the Louisville, Lexington, and Owensboro communities to be part of our membership – an invitation to grow and prosper with us. This change is not a departure from our roots, but a bridge to transport us toward a successful future.
No Other Changes: There has not been an ownership change; our members own the Credit Union. The mission, values, and commitment to our members remains in place. The leadership, employees, and operations will not be affected by the name change. The Credit Union’s financial condition remains outstanding – as documented by our Annual Report and five-star rating from BauerFinancial, Inc., the financial institution rating organization. You will continue to receive the same high-quality service that has been our trademark for 83 years.
Next Steps: We will contact you later this summer to unveil the new name, logo design, and implementation date. We hope you will share the excitement about this important event! A Name Change Guide accompanies this notice.
In the event you have other questions, please contact us at (502) 459-3000; (800) 292-9490; or stop by any of our branch locations.
We greatly appreciate your continued membership, support, and trust.