A spokeswoman said that not enough people understood what CSV did and it hoped the new name would change that at a time when the need for the charity’s work was increasing.
"We believe Volunteering Matters describes what we do better, will be easier to find and access and therefore will inspire more people and change more communities," she said.
"We believe in the transformative role we play in people’s lives and their communities through the power of social action and volunteering. We want to increase our impact – we believe that Volunteering Matters clearly states what we do and positions us as a modern and relevant charity."
The rebrand cost about £50,000 and was regarded by the charity as an investment in its future, the spokeswoman said.
"The trustees and directors made provision for a rebrand," she said. "This strand of work was part of the strategic plan. Our existing website was no longer truly fit for purpose, so we needed to invest in that anyway, as many organisations do periodically."
The charity restructured and announced the appointment of a new senior management team in July after it made losses totalling more than £2.8m in 2011/12 and 2012/13.
Oonagh Aitken, the charity’s chief executive, said the new name marked the beginning of an exciting future for the organisation, which has been operating for more than 50 years. "We will continue to build on our consistent delivery of high-quality volunteering programmes that positively affect the lives of people all over the UK," she said.
"Through social action volunteering, we enable people of all ages, backgrounds and abilities to contribute to their local communities, enhance their wellbeing and gain important new skills. We believe that, as Volunteering Matters, we will be better placed to reach new audiences of people who either want to volunteer or could benefit from one of our many bespoke programmes."