A longstanding North Shore financial institution is changing its image.
As of Sept. 30, North Shore Credit Union will be known as BlueShore Financial. According to a press release, the name change is the final stage of a long-term strategy to transform the community credit union into a "sophisticated financial boutique."
Research showed that the "North Shore" name created a misconception that the institution only operated on the North Shore, the release states. Removing the geographic limitation and becoming BlueShore Financial is intended to communicate the organization's ability to serve a broader market.
Further, the word "financial" is meant to better represent the array of banking, wealth management and financial planning services the institution provides.
NSCU was established in North Vancouver in 1941. At that time, the blue collar workers of North Vancouver had few financial options. Frustrated with their limited resources, 10 deep sea fishermen, city clerks and shipbuilders got together at the Old Palace Hotel and founded NSCU with a combined $10 in capital.
"We grew up in a blue collar world, servicing ship builders and deepsea fishermen. As the population grew and its needs became more sophisticated, we grew up alongside them to shift from a local community credit union to a financial boutique," Chris Catliff, president and CEO of BlueShore Financial, stated in the release. "Our new name more accurately reflects the communities we serve, both on and off the North Shore, and the exceptional banking experience we provide with our personalized solutions, accredited advisors and elegant branch environment."
Today, BlueShore Financial has 12 locations across Vancouver, Burnaby, North and West Vancouver and the Sea-to-Sky Corridor.
A new head office and Lonsdale branch is expected to open in 2014.