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Credit Union Name Change Instructions
To initiate a name change the Credit Union will need to:
- Run a trademark search to ensure there are no current trademarks on the name(s) the credit union is considering
- Hold a vote by the Board of Directors and/or Credit Union Membership.
- Following a successful vote for name change, submit a written request to the Division of Financial Institutions (DFI) - Credit Union Section indicating why the Board feels a name change is in the best interest of the credit union and its members.
- Upon receipt, the DFI Credit Union Section office staff will forward the request to the Director of DFI or designated staff person for review and consideration.
- Once preapproval of the request is given by the DFI Director, bylaw amendment forms will be sent to the credit union via email for completion, to officially change the name of the credit union.
- The bylaw amendment forms should be completed and returned to the DFI Credit Union Section, upon which the request will be forwarded to the Director of DFI or designated staff person for signature and final approval.
- Following final approval, the completed forms will be sent to the credit union along with an invoice for the processing fee and a recording form, to be recorded in the County Recorder’s office.
- Once the name change is official, the credit union will need to contact the IRS, your vendors, Credit Card Companies, etc. Our office will send notification to the National Credit Union Administration (or American Share Insurance), the Federal Reserve, CUNA Mutual and the Illinois Credit Union League Office.
In addition, listed below are the suggested time frames by which tasks associated with the credit union’s name change should be completed following approval (approval is the date the Amendment is signed by a designated employee of the Department).
Signage |
Within 30 days |
Corporate Seal |
Within 90 days |
Web / email addresses (if applicable) |
Within 90 days |
Letterhead/Stationary |
Within 90 days |
Share Drafts |
Within 180 days |
Visa, Debit or ATM cards |
Within 365 days |
The request can be submitted to the DFI Credit Union Section by:
- Email: FPR.CreditUnion@illinois.gov (preferred)
- Fax: 217-557-8461
- Mail:
IDFPR
ATTN: Credit Union Section
320 West Washington Street, 2nd Floor
Springfield, IL 62786
Please review to ensure that the Article and Section number aligns and the proposed amendment is otherwise consistent with the credit union’s bylaws.
Please further note that the amendment is not effective unless and until approved and signed by a designated employee of the Department.
If you have any questions or need further information, please email: FPR.CreditUnion@Illinois.gov or call the Credit Union Section at (217) 782-2834.
