Don't worry about losing content if you ever want to update a community's name or URL slug. Follow these steps to make this quick change without having to create an entirely new community.
Rename a community:
From your Dashboard, click Manage then Communities
Select the Community you'd like to edit
Rename this community in the Name field
Click Update to implement the change

Update a URL slug:
A URL slug is the last part of a page's web address. Each page has its unique slug. For example, the Business Community page might have a URL slug that reads like so: democollege.edu/business-page. The bolded words, "business-page," make up the slug for this particular page. You can edit a slug by following these steps:
From your Dashboard, click Manage then Communities
Select the Community you'd like to edit
In the URL (Slug) field, rename your Community's URL slug
Click Update to implement this change

Note: If there are multiple words in your slug, they should be separated by hyphens