About Federal Family FCU
The need for a Credit Union was recognized by several Federal Agency Department Heads. This group of representatives got together with the intent to form a Credit Union for the Salt Lake County Federal employees who were not eligible for membership elsewhere with the intent they could save money and qualify for loans at lower interest rates.
After several weeks, Associated Federal Employees Federal Credit Union received approval of organization from the Bureau of Federal Credit Unions to become a federally chartered Credit Union effective September 15, 1954.
What is a Credit Union?
“A credit union is not an ordinary financial concern, seeking to enrich its members at the expense of the general public. Neither is it a loan company, seeking to make a profit at the expense of the unfortunates. The credit union is nothing of the kind; it is the expression in the field of economics of a high social ideal.” ~Alphonse Desjardins, Canadian Credit Union Pioneer
Our Roots are in the Cooperative Movement
Most people think of credit unions primarily as financial institutions. But our fundamental values and structure also identify us as co-operatives. A unique type of business organization whose modern form was established in England in 1844. The central goal of a cooperative is to place service and benefits to members above all else.
On January 1, 2017 the credit union’s name was changed to Federal Family Federal Credit Union. You’re a member of our federal family and we thank you for your membership.
Hercules First Federal Credit Union merges Federal Family Federal Credit Union
Two strong and healthy credit union merged on June 1, 2018.
Members of Federal Family Federal Credit Union are now members of the Hercules First Federal Credit Union. Some of the benefits of merging with Hercules First Federal Credit Union are:
- More branches
- Expanded products
- Financially stronger
- All employees were retained and you’ll see the same familiar face when you visit your branch.
- You may see some changes over the next few months but you can continue using this website and logging into your account the same way.
- You can also use your VISA cards and checks until they are replaced.
- Merging of the back office should be completed by the middle of 2019