Yes.  Use Tool #918 "Update Trans Desc & IRA/HSA Post Codes," choose the appropriate suffix, then change the description.  You can also add an additional line (secondary transaction description) in addition to the primary description.  These changes will become a permanent part of the member's transaction history and will appear in CU*BASE transaction history screens as well as in online banking. 

Remember that changes will NOT affect member statements (including e-statements) that have already been generated, so be careful when making changes after the end of a month (or quarter, if the member only gets a quarterly statement).