CHICAGO, May 18, 2016 /PRNewswire/ -- Motorola Employees Credit Union (MECU), a Schaumburg, Illinois-based credit union, announced today that it will be changing its name to Andigo later this year. The name change is expected to be implemented in September.
Commenting on the new name, Mike Murphy, President and Chief Executive Officer, said, "MECU has been helping people manage their finances conveniently whenever and wherever they go for a long time. Although much has changed over the years, some things haven't. We have always been member-owned and not-for-profit, so we have always put the needs of our member-owners first."
"With our members' support, we've achieved significant growth and success, both in financial terms and in our ability to offer a greatly expanded set of products and services. Additionally, we serve members and organizations across the nation as well as those living or working in the Chicago area."
"We remain committed to serving the needs of Motorola Solutions, Motorola Mobility and their employees. The new name better reflects who we are today. Andigo, which sounds like indigo, highlights our promise that wherever you go, Andigo goes with you."
The new name also reflects the credit union's roots. Motorola pioneered the car radio and cell phone products that allowed people to live their lives on the go.
Murphy noted, "Our new tagline, Lose Your Bank & Let's Go, reinforces that Andigo isn't a bank. Banks are for-profit institutions that exist to benefit their shareholders. Instead, Andigo is a cooperative that exists to deliver value to our member-owners through competitive rates, lower fees and personalized service."
"I'm excited about our new name and know that our members will be too."
MECU is a not-for-profit, member-owned credit union with $900 million in assets, whose principal mission is to improve the financial lives of its members. MECU embraces a 77-year tradition of doing the right thing for members—a practice that goes beyond offering great financial products and services. MECU's core principle of "putting you first" reflects this unwavering commitment to its members. For more information, visit mecu.org.
Media contact: Mark A. Nystuen