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.
Celebrating 60 years of service, the Credit Union has grown from those first seven member accounts and assets of $35.00 to its current size of more than 30,000 member accounts and assets close to $1 billion. Membership has also been expanded to include the Caltech family and its affiliate organizations, along with immediate family of current 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.