‘Think of it as the Oscars of our industry’
Verns Cheese under new ownership after 59 years
November 18, 2024
OSHKOSH – As it looks toward its 63rd birthday in 2025, Ripple Credit Union (429 N. Sawyer St.) is already celebrating with a new look and brand.
Originally chartered in 1962, Mercy Medical Center Credit Union was started by a group of nurses and located in the Oshkosh-based hospital – then on Hazel Street – to serve its employees.
The credit union had a second, smaller location on South Main Street in Oshkosh as well.
In June 1977, the name was changed to Health Care Credit Union to more aptly reflect that it offered products and services to anyone working in the healthcare field, not just those at Mercy.
Needing more space, the credit union purchased its current building at 429 N. Sawyer St., Oshkosh and moved into it in 2014.
That same year brought another big change when the credit union’s membership voted to change its charter – which opened it up to anyone living or working in Winnebago, Outagamie or Fond du Lac counties, regardless of the field they worked in.
Despite the open charter, the name remained the same – something that current President/CEO Danielle Hilbert said was confusing to many and kept membership from growing because many people still thought you had to work in health care to be a member.
“The first thing people would say when they walked through the door was ‘I don’t think I can be a member here because I don’t work in health care,’” she said. “We wanted a name that was open, more inclusive and inviting to all potential members. That’s why we started talking about and eventually moved forward with rebranding.”
Board Chair Dede Cummings said changing the name to something more open and inclusive was a recurring theme during many of the board’s strategic planning sessions “for probably the last 10 years or so.”
Hilbert said she has worked in almost every role at the credit union since starting more than 16 years ago.
When Hilbert stepped into the role of president/CEO in March 2022, Cummings said “she took the bull by the horns and got us going.”
“She sat down with Diane (Penzenstadler) at 44 North Advertising & Design, and they came up with different ideas,” she said. “There were maybe five or six different logos we looked at. As a board, we got excited when we actually started seeing something (on paper).”
Like a ripple in a pond
“Ripple” was one of the many words and ideas Hilbert said she and Penzenstadler brainstormed, but said it stood out more than the others – not necessarily because Oshkosh is on the water, or even because there is a Ripple Road on the city’s far south side.
“The definition of the word ripple is ‘small wave,’” she said. “We’ve always operated under the philosophy that if we can make a small impact on people’s financial health, it will create big possibilities for them in the future. We really liked the definition and the marketing aspects of the name Ripple Credit Union. It’s really truly what we stand for.”
The rebrand and new name, Hilbert said, was accompanied by a new tagline – ‘Small Waves. Big Possibilities.’
“Small things we do as a credit union can make a big impact for our members and the community, so it really ties together very nicely,” she said.
Cummings said the Ripple name “absolutely popped out at us.”
“It’s like dropping a pebble in a pond and it rippling out from there,” she said. “Someone might start with a $20 savings account and years later get a mortgage from us.”
Cummings said even though a change was inevitable the board and staff were nervous that the changes might upset some of the longtime members, especially those who had worked in health care.
“I’ve been a member since 1986 or 1987 and on the board for decades,” she said. “I wasn’t really on board with changing the name until Dani(elle) started talking about it,” she said. “It became clear that we needed to do something to help us grow and get with the times. It’s a competitive market, and if we want to grow, we need to expand our appeal to more people.”
Thus far, Hilbert said the new name, logo and brand have been positively received by members, young and old.
“We’ve had such positive feedback, even the comments on Facebook have been wonderful and very positive,” she said. “I’ve been very impressed with it.”
The changes were officially unveiled at an open house held on Nov. 1.
Though Hilbert said she anticipates new members joining as a result of what they saw and heard, it probably won’t be until after the first of the year.
With people starting their Christmas shopping and making year-end donations to nonprofits, Hilbert said some people may not want to have to worry about switching everything over to a new place at the end of the year.
But after the new year, she said she anticipates new members may be joining.
Offers everything other credit unions do
Ripple Credit Union, Hilbert said, currently has approximately 2,500 members, with assets of between $33 million and $35 million.
That, she said, is tremendous growth compared with assets of approximately $7 million about 20 years ago.
“It’s hard to imagine us having grown that much,” she said.
Hilbert said Ripple is a full-service credit union, offering all the same products and services that other credit unions offer – everything from checking and savings accounts, CD accounts and personal loans to car loans, boat loans, mortgages, etc.
Ripple also offers all the modern conveniences, she said, such as remote deposit, bill pay, mobile banking and even an app for conducting business with a smartphone, tablet or other mobile device.
“We have instant-issue debit cards that we can issue right in the office at the same time someone opens an account,” she said. “It’s super easy, and we can have someone in and out in about 15 minutes or so, with their new debit card in hand.”
On-site, Hilbert said Ripple has four certified financial counselors to help people understand anything about their finances that they may be in doubt about.
Growing but in a small way
Though Ripple Credit Union is poised for more growth, Hilbert said the credit union is committed to maintaining the personal touches – such as in-person tellers in drive-thru lanes and treats for kids and dogs – it has always been known for.
“We’re not willing to give up that personalization,” she said. “Members come first. Every dog that pulls into the parking lot with their owner leaves with a biscuit and every kid is welcome to dig through the sucker pail as soon as they walk through the door.”
Hilbert said Ripple Credit Union – regardless of its name – has always operated under the philosophy that “you can go anywhere to open an account.”
“The reason people should choose us is because we are community-based, we have that community feel, we are out in the community and the small things we do to help people make a big impact on their future,” she said. “We take time to be very personal with them. We get to learn our customers’ names and what types of things they like, and we go the extra mile from a customer service aspect.”
Cummings said Ripple certainly plans to grow – but when “I say ‘grow,’ I mean grow small.”
“Growing but still knowing every customer’s name, and we know something personal about them that we can ask them about – like kids, grandkids, pets, that sort of thing,” she said.
At this time, Cummings said there are no plans for any branch locations, but noted that nothing is off the table for the future.
“In the future, maybe we’d have something in a small community where they have no credit unions, and it could be a two-person operation,” she said. “Everybody has to grow, but you can’t grow if you just stay in one place. But I’m not talking about growing large like some other credit unions have done.”
Cummings said at some point they’ll take the next logical step, whatever it might be.
“Of course, you never say never,” she said. “If a good opportunity presents itself, we’d owe it to ourselves and our members to at least look at it. To not look at it would be crazy. For now, we’ve got a new name, new logo, new energy and we’re all very excited about where we’re going in the future and growing our membership.”
Hilbert said she has a similar vision for Ripple’s future.
“We have been very successful as a credit union with servicing our members…,” she said. “I envision us always being more of a local, community-based, community-sized credit union. I’m not looking for us to grow by leaps and bounds to be a huge credit union, if you will, because I don’t want those personal touches to be lost.”
In the same breath, however, Hilbert said she does foresee updated products and services in the future – as the times change and new things come on the horizon.
For now, Cummings said, the Ripple Credit Union team is going to focus on the new changes and implement them in the very best way possible.
“We’ve got this wonderful, young staff right now that are energetic and really dedicated,” she said. “I am so proud of these young folks – they’re making this whole thing come about. It’s wonderful to watch.”
Hilbert said the team is ready and excited about the prospect of “folks coming and making waves with us.”
Visit ripplecu.org for more.
