Caltech Employees Federal Credit Union

History

The Caltech Employees Federal Credit Union was established on April 11, 1950, by seven employees of the Institute. Each of these founding members contributed one share, $5.00, to the first pool of Credit Union money.

Through the over fifty-six years of its existence, the Credit Union has grown from those first seven member accounts and assets of $35.00 to its current size of more than 32,300 member accounts and assets of more than $750 million. Membership has also been expanded to include every segment of the Caltech family, from students to faculty to members of the Alumni Association to family members.

Credit Union services have grown too, from the basic share account and loans to include a very successful VISA program, "Share Access" via ATM services, electronic funds transfers, PC Access through CEFCU@HOME, e-Statements, and a full spectrum of loan services offered at extremely competitive rates.