Whistler’s longest-standing financial institution has changed its name this week to better reflect the community it now serves.
North Shore Credit Union will now be known as BlueShore Financial.
A company spokesperson said the change is in name only, and that accounts and procedures will not be affected. The new name was chosen principally because “North Shore” was misleading about the institutions’ geographic reach beyond the Sea to Sky corridor.
In 1984 North Shore Credit Union was the first financial institution to open a Whistler branch, offering simple banking needs for people in the blue-collar industries. Company CEO Chris Catliff said the institution became an instrumental lender to start-up businesses in the 1980s as the ski resort began to expand. Since then Whistler’s character has changed considerably, both retaining and attracting an affluent white-collar residency. The bank has spent the past 13 years reorganizing its focus to better meet their financial needs.
“It’s now more about sophisticated financial planning for all of the members that have grown up with us. That’s part of the reason for changing the name to Blue Shore Financial: representing the shift and the growing up for more complex needs — for estate planning, financial planning, wealth administration, stocks, bonds, et cetera. We’ve morphed as the community has morphed.”
Catliff said North Shore is amoung many financial institutions to eliminate the “credit union” moniker from their brand.
“We’re still a credit union and we’re incredibly proud of it,” Catliff said. “But the focus groups are unassailable and you have to listen to what they say. If you’re a new immigrant, or more affluent, or under 30, a credit union is not something you’ll be naturally drawn to.”