A new Internet domain name just for credit unions, .creditunion (dot credit union), is almost a reality. The Internet Corporation for Names and Numbers (ICANN) has notified the Credit Union National Association (CUNA) that the domain name has been approved - and there are just a few more steps to take before it becomes available for credit unions' use.
"People are not just using dot-com domains anymore," says CUNA General Counsel Eric Richard. "This influx of new domain names could change the way people use the internet, and credit unions are evolving with the new digital landscape."
Richard also believes the new domain could aid in marketing and enhanced internet security, but its getting mixed reviews in Missouri. Brandon Michaels, Mazuma Credit union (Kansas City) president/CEO weighs in.
"I think the domain .creditunion is too long and further confuses the perception of credit unions," says Michaels. "It would take an increasingly long time to cement into the fabric of society as .com, .org, .gov, .coop, and .edu are widely recognized. Personally, I would like to see credit unions use either .com or .coop domain names. While we are not a corporation, we are also not a non-profit, which can be a little confusing to the average consumer."
Back in 2011, ICANN announced it would significantly broaden the number of approved top-level domain names beyond the limited number in use, such as .com, .org, .gov, .edu, and.coop. CUNA submitted a .creditunion application on behalf of the credit union movement. After this notice of approval, the next step is for CUNA to negotiate a contract with ICANN and CUNA's designated registrar company.