In business, the power and value of a good name and brand are immeasurable in conveying a certain feeling, attitude, and reputation. A good name and brand will be memorable and provide differentiation.
As you have likely heard, we are soon changing our name and brand to BlueOx Credit Union. You may wonder why change, and why BlueOx?
Most credit unions today are community chartered, meaning anyone who lives, works, worships or goes to school within a certain geographical area is eligible to join. This is true of us as well. Our geographical area is nine counties in lower Michigan, and within a 25-mile radius of our branch offices. With our current name, it is often assumed one must be affiliated with education to join.
In looking at potential names, many aspects were considered. We looked at made up names, warm, fuzzy names, and names that had meaning. We chose the latter, and in doing so, chose BlueOx.
Studying the folklore tales of Paul Bunyan and Babe, we loved the character traits and how they represent our members, our Credit Union, our local community and our state. Oxen are known for the qualities of hard-work, strength, perseverance, and more. They are sure-footed and powerful. These are all great qualities, which are reflected in our educational membership base, as well as how our local community and state have made it through the rough economy we endured in recent years. Additionally, Paul Bunyan and Babe are bold, bigger-than-life, and represent values such as loyalty and friendship.
From a historical perspective, we send oxen to impoverished nations to help plow fields and bring local economies up and out of poverty. This is not unlike what we do for our members and communities. We offer unique financial products and services to individuals that are beyond those of most financial institutions – credit builder loans, financial counseling, and educational programs, along with participation in various programs within our community which also seek to do this.
It is said that a good name and brand embrace a company’s personality. A brand is a promise of an experience. With 80 years experience behind us, we look forward to the promise of solid future growth as BlueOx Credit Union.