Credit Union West history

1952 – On August 12, Motorola Credit Union (now TruWest Credit Union) is incorporated, servicing only Motorola employees

By the end of 1960, there were 9,905 federal credit unions with 6.1 million members and $2.7 billion in assets.

Our history started on May 5, 1961 when the IBM San Jose Employees Federal Credit Union was organized.

1964 – Membership expands to include retired Motorola employees

In February 1966, the Bureau of Federal Credit Unions, along with other federal agencies launch Project Moneywise (opens new window), an initiative to expand credit union services into low- to moderate-income areas across the country and improve the financial well-being of these communities.

1975 – Membership expands again to include spouses and dependent children

1983 – Our home office branch opens, the first community branch in AZ

July 18, 1984 – The Deficit Reduction Act of 1984 is signed into law recapitalizing the National Credit Union Share Insurance Fund, which had been experiencing financial stress for several years.

1986 – We’re the first credit union to unveil “New Car Central” for one-stop auto shopping

By the end of 1990, the credit union system has 12,891 federally insured credit unions, $223 billion in assets and 61 million members.

He serves as Chairman until 1993.

1994 – The Washington D.C. District Court rules that NCUA’s policy of allowing for multiple groups in one field of membership is allowed under the Federal Credit Union Act.

July 1996 – The United States District Court of Appeals for the D.C. Circuit overturns the lower court’s decision and rules that all members of an occupation-based federal credit union must share one common bond.

1997 – The United States Supreme Court agrees to hear the NCUA’s appeal of the Appeal Court’s ruling.

February 25, 1998 – The Supreme Court rules that federal occupation-based credit unions must consist of an occupational group having a single common bond.

In 1999 Pacific IBM became Meriwest Credit Union.

2003 – On January 1, members approve the credit union’s request to change our name to TruWest Credit Union

2004 – Our membership expands to include anyone living or working in Maricopa County, AZ, and Travis County, TX

9, 2008 – The NCUA Board approves the creation of the Credit Union System Investment Program and the Homeowners Affordability Relief Program to help credit unions weather increasing financial stress.

24, 2009 – Debbie Matz becomes Chairman of the NCUA Board.

1, 2010 – United States Central Federal Credit Union and Western Corporate Federal Credit Union are placed into liquidation.

June 1, 2012 – Federally insured credit union assets exceed $1 trillion for the first time.

6, 2013 – To reduce regulatory burdens, NCUA changes the definition of a small, non-complex credit union to those entities with less than $50 million in assets, up from the prior $10 million in assets threshold.

26, 2014 – J. Mark McWatters is sworn in as a member of the NCUA Board.

18, 2016 – The NCUA Board approves a final rule that changes the agency’s regulations governing member business lending and provides credit unions with greater flexibility to make commercial lending decisions.

2017 – TruWest expands into Yavapai and Pima Counties in Arizona, and launches the new Truwest.org website.

March 16, 2020 – The NCUA issues a Letter to Credit Unions that outlines several strategies credit unions may consider when determining how to address the challenges associated with COVID-19.