Nassau Educators Federal Credit Union (NEFCU) changed its name to Jovia Financial Credit Union this week in an effort to re-brand as it continues to grow its reach beyond just one county.
The Westbury-based credit union made the change effective Monday. The move comes 13 years after it changed its name to NEFCU from Valley Stream Teachers Federal Credit Union, as it was originally known when it was founded 81 years ago.
“We needed a new name, one that connects us to all of Long Island and Long Islanders,” said John Deieso, Jovia’s president and CEO. “Given our growth and the dramatic changes we’ve undertaken recently, it was time for a name that represents who we are, where we’re headed and what best captures the spirit and energy of this dynamic and fast-growing credit union.”
Jovia has more than $3 billion in assets, nearly 200,000 members, and branches with a soon-to-be 20 shared branch network throughout Nassau and Suffolk counties. Membership requires living, working, going to school, or regularly doing business anywhere on Long Island, except the South Fork or Shelter Island.
It recently launched new Interactive Teller Machine (ITM) technology, extended hours in its branches and call center, and is bill as one of the most committed supporters of the communities it serves.
Last year, Jovia was rated the top credit union in New York State by the independent research firm Callahan & Associates, and this past month it was ranked in the top three in Forbes magazine’s Top Credit Unions in Each State survey.
Deieso said the name Jovia — pronounced JO-vee-ah — is derived from the word jovial, is intended to connote optimism, trust, and “banking on the bright side.” The newly named credit union will be most visible when the 2020 Jovia Long Island Marathon takes place next spring.
Despite the change, the credit union will remain involved in supporting and promoting education, from scholarships, to teacher grants, to financial literacy programs.