ICON Credit Union – Questions & Answers
Why did you change the credit union name?
A number of reasons led your board of directors to make the decision to change the name of the credit union. At the advice of a couple of different professional credit union consultants, the board decided to engage a marketing firm that specializes in name changes and to seek out a name that is more easily recognized, pronounced, and spelled.
In addition, the credit union has undergone changes in the field of membership primarily due to merging in two credit unions over the past six years. Idaho Highway Department, the original sponsoring group, is now one of many groups eligible for membership and people working in Ada, Canyon, Kootenai and Shoshone Counties are also eligible to join. We also now have a branch in La Grande, Oregon, making our reach beyond the state of Idaho.
Who chose the new name?
Your board of directors and management team engaged a marketing firm that specializes in credit union name changes. The process included a number of steps that were proven successful with many other credit unions.
The name "icon" was selected from over 300 names originally considered, narrowed down by an Idahy committee and finally, resulted in a unanimous approval by your elected board of directors.
The significance of our new name is one that represents strength and respect – something that is looked up to and admired. We believe that Idahy is known as an icon to our members and community, and we felt it important to create a name that represented something we stood for and are proud of.
Why change the name now?
The discussion of changing the name has been ongoing for several years. The timing of this name change was a decision your Board of Directors and management made in 2008.
Will my accounts still be insured?
Yes, the credit union continues to be a federally insured credit union by the NCUA. Your shares are insured for up to a minimum of $250,000 per member. The name change does not affect our operations in how we handle your accounts or your insurance.
When does the new name take effect?
The credit union will legally become ICON Credit Union on January 1, 2010 -- launching the new decade with a new and improved credit union image.
Is this name change the result of a merger?
No, your credit union will continue to operate with the same elected board of directors and staff that you have come to know.
What do I do with my checks and debit/credit cards that still say “Idahy”?
Continue to use them as you always have. As you run out of checks and reorder, your new checks will reflect the ICON Credit Union name. As your credit/debit cards expire, you will receive new ICON Credit Union cards.
Will my account number(s) stay the same?
Yes, your member number will remain the same and no changes to account numbers will be made due to the name change.
How will I find the credit union Web site?
The new website will be located at www.iconcreditunion.org. However, we will continue to have an automatic link from the www.idahy.org site for several months. We recommend that you update your favorites and any other bookmarked pages from our current site to the new site. We will have a new look to our website to reflect the new name and image of the credit union.
Are home banking and BillPay still available?
Yes, you will still enjoy the convenience of the same online banking and BillPay, only with a new look. Online Banking will now be called icon@home.