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Community First Credit Union history
Community First Credit Union company history timeline
At the formation meeting on 5 August 1959, 63 employees became the first members of Sydney Water Board Credit Union Co-op.
Since 1959, Community First has focused on building financial relationships that deliver on its promise to benefit members through standards of service superior to its competitors, fairer fees and competitive interest rates on savings and loans.
Our Own Building In 1961, plans were started to construct the credit union’s first building.
Loans were limited to £300 ($600 at the 1966 conversion rate). By the end of its first financial year the credit union had 331 members and £15,565 ($31,130) in assets.
Elcom Credit Union was a community-based credit union in Australia that was formed in 1966 at Newvale Colleries Doyalson as Newstan Colliery Employees Credit Union.
In 1967 the Board approved a change of name to the Sydney Water Board Employees Credit Union.
1968 saw the Credit Union purchase a new, four-storey head office – 'Co-operation House' at 125 Bathurst St, Sydney, for the sum of $250,000.
In 1978, good news came for credit unions, as permanent share draft legislation was passed, allowing credit unions to offer share draft "checking" services to members.
In 1978 the credit union became the 12th largest in Australia, with 16,420 members and assets of $14,039,267.
In 1983 the Rediteller ATM network was launched and all members were issued with Redicards, for use in some 500 ATMs nationwide.
In 1983 a Special General Meeting was held where it was decided that membership would be open to the community at large thus becoming a community based credit union rather than an industrial credit union.
Until 1983 the only way for members to access their funds was by cheque delivered by a courier.
In 1984, the Credit Union Visa Card gave members debit-card access to their funds almost anywhere in the world.
In May 1987, Elcom held a Special General Meeting where it was decided that the credit union be merged with The Lakes Power Station Employees Credit Union.
November 1989, Industrial Drive branch opens in Neenah
In 1990 there was another local merger this time with Muniff Credit Union.
17 Moved the branch location at the King Veterans Home, where Community First has been serving our military heroes and their spouses since 1991
In 1993 members resolved to change the name of the credit union from SWB Community Credit Union Ltd to Community First Credit Union.
Oskaloosa Branch The first branch outside of Ottumwa was opened in 1994, in Oskaloosa, Iowa, in order to better meet the needs of the many current members who lived in the Oskaloosa area.
Grinnell & Bloomfield The credit union expanded to its first location north of Interstate-80 in 1998, with a new branch located at 205 W. St in Grinnell, Iowa.
First Choice Travel was a venture by Elcom Credit Union with Holiday Coast Credit Union that began in December 1999 with the opening of Garden City (now Westfield Kotara) branch and has since been incorporated into several branches as well as at Port Macquarie.
By 1999 membership exceeded 57,000, with deposits of $210 million and loans worth $199 million and another merger this time with Manchester Unity Credit Union Ltd.
In 2000 there was a merger with Grand United Credit Union.
In 2001 an internet banking facility was introduced in September giving members 24/7 access to their accounts.
Ottumwa - North In March 2002, a second branch was established in Ottumwa located at 739 Pennsylvania Ave.
In 2002 Community First Credit Union launched an online brand Easy Street Financial Services, providing members nationwide with a high interest online savings account.
At the time of merging Elcom had seven branches, 50 staff, 22,000 members and assets of $143,000,000.Paul Johnson has been Chief Executive Officer since 2003 .
During March 2005 Elcom Credit Union adopted a new logo and uniform with new branch signage also being put into place.
Cedar Rapids – NE In July 2005, Deere Community Federated Credit Union added a branch at 1030 Sierra Doctor in Cedar Rapids, in a merger with Cedar Rapids Community Credit Union.
On 12 May 2006, the Chief Executive Officer, Paul Johnson, together with John Tancevski, the Chief Executive Officer of Community First Credit Union announced the intention for the two organisations to merge.
The merger, subject to Australian Prudential Regulation Authority approvals will be voted on at the Annual General Meetings of both Credit Unions in October, with the merge to take effect on 1 November 2006.
It officially ceased trading as a deposit-taking institution on 31 October 2006 when it merged with Community First Credit Union.
Also in 2006, Jefferson County Community Credit Union in Fairfield, Iowa and George Washington Credit Union in Washington, Iowa both merged with Community 1st Credit Union to provide members with expanded products and services.
In 2006 Community First Credit Union merged with Dana Employees Credit Union.
Albia On May 31, 2007, official groundbreaking began to launch the construction of Community 1st Credit Union’s Albia branch.
In July of 2007, the Washington branch celebrated the Grand Opening of its brand new building located at 303 S. 2nd Ave.
The award recognizes credit unions with assets greater than $500 million for achieving a top 10 ranking in 2008 based on a balanced scorecard measurement of growth, income, efficiency and margin management.
In 2008 Community First Credit Union merged with the Croatian Community Credit Union and Hibernian Credit Union – adding 2,000 new members.
HI-TEC Merger & Three Branch Locations Receive Updates Three branch locations received remodeling updates in 2010.
Community First was the proud sponsor of the Lexington Homes BIG BUILD 2010 for Extreme Makeover: Home Edition Manitowoc County Employees Credit Union merges with Community First
Community First was the proud sponsor of the Lexington Homes BIG BUILD 2010 for Extreme Makeover: Home Edition
75th Anniversary, Chariton & Venture Doctor 2011 was a big year for Community 1st Credit Union.
Mount Pleasant On February 10, 2012 official groundbreaking took place to launch the construction of the Mount Pleasant location.
The 2,000 square foot location opened on June 14, 2012.
The doors also opened to Community 1st Credit Union's 16th branch location, in Indianola, on December 2, 2013.
On 1 December 2015, the Northern Beaches Credit Union merged with Community First Credit union.
Knoxville The Knoxville branch is C1st’s 17th branch location in Iowa and was established on December 2, 2016.
Amana Branch Closing Community 1st Credit Union's Amana branch - located at 2800 220th Trail (Whirlpool) in Middle Amana, Iowa - permanently closed its doors on Friday, December 22, 2017.
Ottumwa - JBS Pork Facility Community 1st Credit Union established an office at JBS Pork Facility in Ottumwa, Iowa in May of 2018.
On Sep 2018, the Cape Credit Union merged with Community First Credit union.
Community 1st Credit Union opened our Corporate Center at 1100 Hutchinson Ave. in northeast Ottumwa in fall of 2019.
Community 1st Credit Union celebrated the Grand Opening and Ribbon Cutting of our 18th branch facility located at 714 W. McLane St in Osceola, IA on July 16th, 2021.
HomeTown CU Merger Members of HomeTown CU merged with Community 1st Credit Union on Monday, March 7, 2022 creating a new location in Shenandoah, IA.
© Community First Credit Union 2022 | All Rights Reserved
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Community First Credit Union competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Altura Credit Union | 1957 | $1.9M | 50 | - |
| First Community Credit Union | 1934 | $77.0M | 289 | 65 |
| Kern Schools Federal Credit Union | 1938 | $2.4M | 50 | - |
| Patelco Credit Union | 1936 | $210.0M | 594 | 20 |
| Alliant Credit Union | 1935 | $287.8M | 658 | 63 |
| Desert Schools Federal Credit Union | 1939 | $700.0M | 1,100 | 29 |
| Dupaco Community Credit Union | 1948 | $2.8M | 50 | 6 |
| First Credit Union | 1929 | $999,999 | 50 | 3 |
| WESTconsin Credit Union | 1939 | $83.2M | 50 | 5 |
| Alabama Credit Union | 1956 | $23.2M | 100 | 28 |
Community First Credit Union history FAQs
Zippia gives an in-depth look into the details of Community First Credit Union, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Community First Credit Union. The employee data is based on information from people who have self-reported their past or current employments at Community First Credit Union. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Community First Credit Union. The data presented on this page does not represent the view of Community First Credit Union and its employees or that of Zippia.
Community First Credit Union may also be known as or be related to COMMUNITY FIRST CREDIT UNION and Community First Credit Union.