Questions and answers about our name change

Who decided to change the name and why?
Our Board of Directors and management made the decision to change our name, with input from our members and employees. We have worked for more than two years now to build a convergence of technology, communications, systems and service capabilities, and combined it with our passion for serving our members and our communities. The result is a new approach to business and lifestyle that goes “Beyond Banking.” That’s AMPLIFY. The change to AMPLIFY signals not just an expansion of our commitment to our current members, but also to the larger community in and around Austin. It also marks a significant break with banking tradition, with more flexibility, simpler choices, increased access and mobility, more convenient service for you, a fresh look and feel to our facilities, and stronger connections to our community. We wanted a name that accurately expressed this initiative. It had to reflect our roots in technology and innovation; our ability to serve a broader range of people; and most importantly our commitment to provide enhanced service to you with no boundaries. So we chose AMPLIFY - Go Beyond Banking.

How will these changes affect me?
You will not need to change a single thing as a result of the name change, and everything that makes us a great credit union remains in place. Our employees, your account numbers, even the phone numbers, remain unchanged. All your accounts, benefits and agreements stay exactly the same. But you can expect to see some great improvements coming your way. The first is the addition of two new locations – one in Round Rock at La Frontera, and the other in Cedar Park. These centers – along with our existing Brockton and Pond Springs locations – will have a new design in a comfortable, inviting, dynamic, and informative environment, focused entirely on service to you. We have more free ATMs than any bank in Austin – more than 200. And you’ll see continual improvements in the future. We want to AMPLIFY your financial life with more free time, more flexibility, and simpler choices, so you can expect even more and better services and convenience moving forward.

What about my checks and credit cards? Will they be valid after the name change?
Your checks and cards (debit, credit & ATM) will still work for as long as you have them. After the name change, when your cards expire, or when you reorder checks, we’ll replace them with new cards and checks with our new name. Your account number will not change, only the logo on your card and/or check changes. Our official new name is AMPLIFY Federal Credit Union, which you can begin using after October 10 whenever you refer to us or write checks. But don’t worry - even if you accidentally write a check to someone or mail something to “IBMTEXAS Credit Union” after the name change, it will still be accepted and get to the right place.

What about the website–any changes there?
When we changed our name to AMPLIFY on Oct. 10, our web address changed to www.goamplify.com. However, typing “www.ibmtefcu.org” in your browser will automatically forward you to the right place. Our e-mail addresses will change to “@goamplify.com,” but don’t worry–any e-mail addressed to ibmtefcu.org will still be delivered correctly. On-Line Banking and Bill Pay services will remain unchanged–still free and available all the time. We’ll be adding many new capabilities and a fresh new look and feel to our website over the next few months, which we hope you will find valuable and useful.

Is this the result of a merger or acquisition?
Is one in the works? No. The credit union remains independent, member-owned, and one of the strongest in the state. We are in excellent financial health and getting stronger. The decision to make the name change was made by our volunteer Board of Directors, which is elected by our membership. There are no plans to merge with another organization– only to grow successfully in the years to come.

Is this change a move away from your connection to IBM employees?
Absolutely not. We’re fiercely proud of our affiliation with IBM and our roots, and always will be. Expanding our membership and re-introducing ourselves to a broader community with state-of-the-art services means we can bring more resources to serve our members at IBM and elsewhere. Doing anything less would be abandoning our commitment to you. Over the years, we’ve extended membership to over 37,000 members, and our membership is now more diverse. That has allowed us to better serve all of our members, including those at IBM. The new name, improved services and new branches are part of our strong commitment to IBM employees and to all our members.

Why make the change now?
Several factors influenced the decision to make the change now. Since 2004 when our membership eligibility expanded, our Board of Directors and management team have carefully been preparing the credit union to progress to a new level, while keeping it on a healthy growth track. Following months of member and market research, we have been adding and improving services, planning new ways to remove barriers, save you time, and move you “Beyond Banking.” Our Board determined that this change would bring more benefits to current and future members sooner, and decided that the time was right to introduce these exciting enhancements under a new name that embodies our commitment to AMPLIFY our members’ lives.