5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Jeff Kjoller Jeff has extensive experience in branding, art direction and graphic design, having served employers and clients in a creative capacity for more than twenty-five years. After graduating from the University … Web: www.loudthought.biz Details Names mean things. Words mean things. And in a world where the only sure thing seems like constant change, sometimes the names of corporate entities have to change to keep up with the times. Famous examples of this include Nissan (called Datsun in the United States until the early 1980s), Xerox (known as The Haloid Company) and IBM (previously known as the hilariously-lengthy Computing-Tabulating-Recording Company).In each of these examples, to some degree, the original name of the company simply got in the way of success. Therefore, a change had to be made. The same concept applies with credit union names. In order for a credit union name to work, to click, to resonate in the minds and hearts of consumers, it must have three things — meaning, purpose and longevity. Without any of those three legs, the new name of any financial institution is likely to fall flat on its face.What are some reasons why your credit union might want to look at changing its name? Consider the following scenarios.Loss of a single-sponsor membership pool. This often happens when a credit union that has served a single sponsor employer (such as a large local plant or other manufacturing facility) suddenly finds itself without said sponsor. It could be that the sponsor was bought-out, changed management or simply went out of business. Regardless, the credit union now finds itself in the lurch and has an albatross around his neck in the form of a dead-weight name. A profound example of this is Enron Credit Union, which survived that entire messy Enron debacle in part with the name change (to StarTrust FCU) that was as much necessary as it was practical.Lack of uniqueness or clarity in a crowded market. Every marketplace is now crowded with financial service providers. It’s just a fact of life in this day and age. The struggle here becomes when a credit union sports a name that simply doesn’t stand out. Sometimes it is geographically linked (such as lots of businesses using the word “Northeast” in their names simply because the market is in the northeast part of the state). Or it could be that your credit union simply has a blah and boring name (really, who would remember something as unremarkable as the fictitious “Central Credit Union” if fifty other businesses in that area have the word “central” in them?).Charter change. Here’s an example of the change coming from within. If your credit union is changing its charter from federal to state or from single-sponsored to community, you’ll probably want to consider a name change. In this case, the scope of the membership you are now trying to attract is so dramatically different, a new name may serve you better in your quest for new members. And if it’s a change from federal to stay charter, you’re going to have to change and drop the word “federal” from your name as it is. This could be a prime opportunity for you to look at an entirely new identity for your new charter.Merger or acquisition. This one is somewhat of a “gimme.” If your credit union acquires another or is acquired by another you are simply no longer the same animal. A great deal of thought must go into which of the two is larger (both in terms of membership and total assets) and in which direction the least amount of political fallout lies. There are times when the larger of the two in an acquisition situation simply retains its original name (or some slightly modified version of it). While the set of variables at play here is large, the thought process remains the same — a name change may be in the best interest of your credit union after a merger or acquisition.Legal challenge. This probably happens the least often, and comes in the form of the dreaded “cease and desist” letter in the mail. An example of this is Erie General Electric FCU which changed its name to Widget Financial after receiving letters from GE corporate attorneys demanding that they stop using the GE name and associated markings.Any way you slice it, the name change process is an enormously lengthy, detailed and labor-intensive process for any credit union. Factors in the name change process include the name development, trademarks (and a host of other super-fun legal stuff), logo development and brand application. It is also critical that your entire staff buy-in to the new name and promote the revised brand enthusiastically to members, potential members and the community at large. Most credit unions opt to seek the services of an experienced and qualified partner to assist them in the name change process.Jeff Kjoller has extensive experience in branding, art direction and graphic design, having served employers and clients in a creative capacity for more than twenty-five years. After graduating from the University of North Texas with a BFA in Communication Design, Jeff began his career at Nortel Networks where he managed the design and production of marketing materials used by the wireless division’s sales and training team. After 10 years with Nortel Networks, Jeff joined Beckett Publications as Creative Director in 1999 and was responsible for the design and production of six monthly magazines. His staff of over twenty employees designed and produced all of the collectible magazines to support the various collectible fields. In 2004, Jeff became Creative Director at Texans Credit Union, the third largest credit union in Texas with assets exceeding $1.7 billion. He served in this role for more than eight years, overseeing all marketing materials and corporate communications. He became a Principal at Loudthought in 2010.
LTO central office issued Memorandum Circulation 2019-2167 (Rulesand Regulations on Accreditation, Supervision and Control of DrivingInstitutions, and on Standardization of Driver Education) last Dec. 5, 2019imposing the 15-hour theoretical driving course. * driver’s license and motor vehicle registration requirements andprocesses Also included in the theoretical driving course are the following: Geduspan said LTO-6 is now in the process of accrediting drivingschools for the 15-hour theoretical driving course. No student permit would be issued to an applicant who has notcompleted the course, said Geduspan. * traffic signs, signals, pavement markings, and road right of way * Republic Act (RA) 4136 (Land Transportation and Traffic Code) This new requirement aims to address concerns over the growingnumber vehicular accidents (12,000 deaths annually), according to LTO-6officer-in-charge Atty. Gaudioso Geduspan. * detailed topics / concepts for the safe operation of motorcycleand light motor vehicles * vehicle safety checks and basic trouble shooting cum practicum * fuel conservation tips and techniques * road courtesy, discipline and defensive driving practices * RA 8794 (An Act Imposing a Motor Vehicle User’s Charge on AllTypes of Motor Vehicles and for Others Purposes) In the current practice to secure a student permit, LTO simplyrequires the applicant to submit a birth certificate (true copy) and medicalcertificate. * RA 8749 (Philippine Clean Air Act of 1999) “Wala gani sangexamination,” said Geduspan. The course will tackle the following traffic laws: * parking techniques such as the three-point turn, parallel,reverse, and angle parking ILOILO City – Beginning next month, applicants for “studentpermit” would be required to take a 15-hour theoretical driving course inaccredited driving schools, according to the Land Transportation Office (LTO)Region 6. * RA 10913 (Anti-Distracted Driving Act) * cockpit drill and driving maneuvers A student permit, sometimes called student license, is an official document from LTO that authorizesthe holder to drive a vehicle in the presence of someone with a professional ornon-professional driver’s license. * RA. 10586 (Anti-Drunk and Drugged Driving Act of 2013) * functions of automotive assemblies and accessories * RA 10054 (Motorcycle Helmet Act of 2009) * basic organization and functions of LTO/PN * hazard scanning and recognition, and road crash risk reduction * RA 8750 (Seatbelts Use Act of 1999)