That was the question Mutual Federal Savings Bank asked many of its customers during a survey over several months.
And after much research and discussion, the company decided to change its name to Mutual Bank. The bank has not been acquired or sold, it just wanted to update its image and shorten its name to better reflect its service to customers.Along with the name change comes a logo and color change as well. The new logo is similar to the old one, but now instead of being gold on a blue background, the logo is bright green on a white background.
"Mutual Bank is a better representation of who we are today," said Pat Boat, president of Mutual Bank. "The words 'federal' and 'savings' are not as relevant as they once were, and are somewhat limiting by definition. We wanted a name and brand that better reflected our vision of helping people and live better lives through a broad array of consumer and business banking services. Green means go, and for Mutual Bank, it means 'Go ahead ... live a better life.'"
The new name was unveiled Tuesday. Mutual Bank Chief Executive Officer David Heeter said, "We have not changed ownership. We have not been acquired. We have not changed who we are. We just updated the name, made it a little hipper.
"A bank is indeed what we are, and we do it through mutual relationships with our customers," Heeter said. "This name shortening demonstrates we're listening to our customers, many of whom simply refer to us as 'Mutual.'"
Customers will not see changes in service or processes. The new logo and name will be phased in as new debit cards and checks are ordered. All customers' debit cards will be valid until their expiration dates, and checks will be honored with either logo.
"Mutual really is a philosophy, it's more of a relationship," said Senior Vice President/Regional Manager Max Courtney of the Warsaw Branch.
Customers will receive letters outlining the changes beginning today. Anyone with questions should contact their local branch for more information.
