United Credit Union in Chicago is rebranding as Vicinity Credit Union.

The $293 million-asset organization said the name better reflects its “deep-rooted” connections to the neighborhoods it serves in Cook County.

“This is a significant milestone for us, marking an evolution from our beginnings as a credit union for teachers to a financial partner for our broader community,” said President and CEO Mario Aguirre.

For more than 90 years, the credit union used the name “United,” but in an increasingly digital world the organization wanted to show that its dedication to personal relationships and community engagement remains stronger than ever.

And the new name might just help the credit union grow its membership base.

Like many smaller credit unions, Vicinity has seen membership decline of late. According to the latest data from the National Credit Union Administration, Vicinity’s membership at the end of the second quarter was 19,541, down 4% from a year earlier.

Aguirre told Tyfone the decrease has more to do with the ‘data clean up’ the institution is completing as part of its preparation for a core system conversion.

“Otherwise, our membership numbers have remained stable,” he said.

NCUA data revealed that credit unions between $100 million and $500 million of assets – such as Vicinity – saw membership decline 2.1% over the past year.

Vicinity Credit Union earned roughly $180,000 in the first half of 2024, a 72% decrease compared to a year earlier, according to call report data from the NCUA.

“While our name has changed, please know that our dedication to personal relationships and community engagement remains stronger than ever.”

 – Mario Aguirre
President and CEO
Vicinity Credit Union