Central Minnesota Credit Union to become Magnifi Financial March 1
While the name is different, not much else about the business model and people will be changing.
WADENA — With branch offices throughout Minnesota, North Dakota, the Twin Cities metro and Wisconsin, the Central Minnesota Credit Union name just doesn't fit the bill anymore. That's brought the business to create a new name for itself.
Central Minnesota Credit Union (CMCU), a member-owned financial services cooperative, announced that it is changing its name to Magnifi Financial, effective March 1. As part of the transition, CMCU will unveil a new logo, signage, website and advertising. Magnifi Financial will remain a credit union, with the same credit union charter, business model and community-centered philosophy, according to a CMCU news release.
Wadena's Magnifi branch manager Kelly Wong said those used to CMCU can expect the same level of service and staff as they did before when visiting the local branch.
"We'll still remain very involved in our communities," Wong said. She noted that the name change is not the result of any sale or merger.
She recognizes that while Wadena was one of those central Minnesota towns served by this credit union, many other branch offices do not fall into that geographical area, so a name change made sense.
CMCU has grown out of an original charter in Melrose in 1939.
“Magnifi Financial is an acknowledgment of how much we’ve grown as an organization,” said Charles Friederichs, CMCU Chief Executive Officer. “We are changing our name to better reflect our growing membership, which has grown beyond central Minnesota and extends from western North Dakota through the Twin Cities metro into Wisconsin.”
The organization offers a comprehensive suite of products and services to serve a range of members from consumers to commercial businesses.