It’s a new name, but the same owners and management, for HeritageWest Credit Union.
Using the theme of the 60s song by The Turtles, “Happy Together,” HeritageWest Credit Union has adopted the name of its parent company, Chartway Federal Credit Union.
The name change will be effective on Jan. 17, according to a press release from Chartway officials in Virginia Beach, Va.
SouthWest Community Credit Union, also a member of the Chartway family operating in Utah, will adopt the Chartway name on Jan. 17.
The decision to change names was made after considerable discussion with credit union members and employees, according to Brian Schools, president and CEO of Chartway.
“We’re still one family, just as we’ve always been,” he said. “Having one shared name will simply allow us to operate with less complexity, deliver a consistent experience for members and employees, and provide additional value to our members and communities.”
Credit union members here in Utah will notice no changes in services or personnel as a result of the name change, according to local HeritageWest officials.
“The primary question we’ve received from members so far here in Utah is why we didn’t unite under one name earlier,” Skip Wilson, former regional president of HeritageWest. “They’ve known that we’ve been part of the same organization — that we’re all on the same systems and offer the same set of products — just operating under different names and logos. As such, the transition will be seamless and we’re grateful that our members are as excited as we are. It’s a great thing.”
Wilson has been named Regional President for the Western Region of Chartway Federal Credit Union. With offices in Salt Lake City and Tooele, he will oversee 17 Utah-based Chartway branches.
The HeritageWest website says members will not need to order new checks, credit cards, or debit cards. PIN numbers will remain the same. Hours of operation and phone numbers will not change.
Current websites and online banking services will remain active until March 31, at which time users will automatically be redirected to the new Chartway site.
Credit union members will use the same login ID and password for the new website, but they will be prompted to update their challenge questions and answers and their personal security image.
Direct deposits and bill pay service will not be disrupted.
The HeritageWest website does list a few things that will change. It promises new checking products, improved rates, elimination of some fees, and the ability to issue instant debit cards.
Chartway acquired HeritageWest Credit Union as 2009 drew to a close. The National Credit Union Administration announced on New Year’s Eve in 2009 that Chartway Federal Credit Union had purchased the assets, loans and shares of HeritageWest Credit Union.
In addition to HeritageWest, Chartway acquired Southwest Community Credit Union in 2010. Southwest has branches in St. George, Washington, Cedar City and Hurricane.
Chartway acquired Utah Central Credit Union in 2011, with branches in Salt Lake City, Herriman, Murray, West Valley City, West Jordan and Price.
Utah Central changed its name and began doing business under the HeritageWest brand in August 2013.
HeritageWest and Chartway share a similar history. Both credit unions started out as Department of Defense credit unions.
HeritageWest began as the Bernicia Arsenal Federal Credit Union in 1948 at Bernicia, California. The credit union moved to Tooele in 1961 and changed its name in 1962 to Tooele Army Depot Federal Credit Union. In 1972, the name was changed to Tooele Federal Credit Union. In 2006, TFCU opened its first branch outside Tooele County in South Jordan. In 2008, TFCU announced a name change to HeritageWest Credit Union, acknowledging that 48 percent of its member households were outside Tooele County.
Chartway Federal Credit Union started in 1959 as a Department of Defense Credit Union, diversified, changed its name and deployed into the community. It has nearly 180,000 members through more than 50 branches and a full slate of online, mobile and telephone banking services.
Since 1999, Chartway and its We Promise Foundation, have raised more than $9 million for children battling life-threatening or debilitating illnesses or children facing hardship, according to the credit union. In addition, Chartway’s employee volunteer teams support local non-profit agencies in the communities they serve.