Air Force Federal Credit Union

AFFCU, A Federal Credit Union (trade name Air Force Federal Credit Union) is a US credit union headquartered in San Antonio, Texas, chartered and regulated under the authority of the National Credit Union Administration (NCUA) in 1952.[1] AFFCU's routing number for 314085504.[2]

AFFCU, A Federal Credit Union
TypeCredit union
IndustryFinancial services
Founded1952
ProductsSavings; checking; consumer loans; mortgages; credit cards; investments; online banking; mobile banking
Websitewww.goaffcu.com

History

AFFCU -- formerly known as Lackland Federal Credit Union -- was founded in November 1952[3] by 10 airmen volunteers, who donated $5 each. In 1953, it was operating from a one-room office on Lackland Air Force Base. On March 15, 2002, Lackland FCU changed its name to AFFCU. The name change helped the credit union to better identify with its membership as well as create a vision for the future.

In 2006, AFFCU joined the CO-OP Financial Services giving members access to over 30,000 ATMs worldwide surcharge-free. In the summer of the following year, AFFCU joined the Shared Branching Network. This partnership gave members access to more than 5,400 branches and kiosks located in 46 states and in Germany, Italy, Japan, South Korea and Puerto Rico.[4]

2012 was another year of growth and change for AFFCU. On June 29, 2012, AFFCU added The Airman Heritage Foundation as a Select Employee Group (SEG).[5] This SEG changed AFFCU from a single common bond credit union to a multiple common bond credit union and granted membership eligibility to members of the Airman Heritage Foundation.

As of August 2016, AFFCU had more than $370 million in assets, and over 40,000 members worldwide. In May 2018, AFFCU merged with Local 142 Federal Credit Union, a single-office credit union that served members of several local unions. The combined institution has $408 million in assets and more than 47,000 members.[6][7] This was followed with an announcement that the corporate name was being changed to "AFFCU" to reflect that the field of membership had expanded to groups outside the military community.[8] The corporate logo was replaced with a stylized "A". In 2019, the entity opened its first branch outside the state of Texas. This was in Columbus, Mississippi.[9]

Services

AFFCU offers many products and services in common with other financial institutions, including savings accounts, checking accounts, IRA accounts, certificates, consumer loans, credit cards, mortgages and lines of credit, as well as small business services. The savings are named "Share Savings" to reflect the fact that with the member's initial savings deposit of $5.00 they acquire a share of ownership in the credit union.

AFFCU offers a cash back debit card program, which pays 12 cents cash back each time a credit union member makes a $5 or more purchase with the card. One of the exclusive benefits of credit union membership is a no-cost $3,000 TruStage Accidental Death and Dismemberment (AD&D)[10] insurance policy from CMFG Life Insurance Company.

AFFCU members have access to 7 AFFCU branches, over 200 CO-OP Shared Branches throughout Texas, more than 5,400 branches nationwide and over 30,000 surcharge-free CO-OP Network ATMs worldwide.

Awards and recognition
  • 2013 – No. 1 Military Financial Institution[11]
  • 2013 – Credit Union of the Year by the United States Air Force[12]
  • 2014 – No. 2 Military Financial Institution[13]
  • 2015 – No. 10 Military Financial Institution[14]
  • 2016 – Received America Saves Designation of Savings Excellence for Credit Unions[15]
  • 2016 – Top best Credit Unions in San Antonio[16]

References
  1. "AFFCU". en-gb.facebook.com. Retrieved 2020-08-23.
  2. Air Force FCU Official website - Routing number
  3. Air Force FCU Official website - About us. Retrieved 16 Aug 2016.
  4. Union, Air Force Federal Credit (2018-05-01). "Air Force Federal Credit Union Merges with Local 142 Federal Credit Union". GlobeNewswire News Room. Retrieved 2020-08-23.
  5. "Air Force FCU Official website - Select Employee Group (SEG). Retrieved 16 Aug 2016". Archived from the original on 11 October 2016. Retrieved 15 September 2016.
  6. "Air Force Federal Credit Union acquires San Antonio lender". San Antonio Express-News. Retrieved 2018-05-30.
  7. "San Antonio-area credit union snaps up smaller competitor". www.bizjournals.com. Retrieved 2018-05-30.
  8. "AFFCU". AFFCU. Retrieved 2018-05-30.
  9. AFFCU (2020-04-28). "AFFCU Expands Field of Membership in Mississippi". GlobeNewswire News Room. Retrieved 2020-08-23.
  10. Free TruStage AD&D coverage for Air Force FCU members. Retrieved 16 Aug 2016.
  11. Best Banks and Credit Unions for Members of the Military. CUinsight.com. Retrieved 17 Aug 2016.
  12. Air Force FCU Named Credit Union of the Year by the United States Air Force. GOBankingRates.com. Retrieved 17 Aug 2016.
  13. Three Credit Unions Make Top 5 Military Banks List. CUtimes.com. Retrieved 17 Aug 2016.
  14. San Antonio’s Air Force Federal Credit Union Among Best Military Banks of 2015. GOBankingRates.com. Retrieved 17 Aug 2016.
  15. Air Force Federal Credit Union Receives America Saves Designation of Savings Excellence for Credit Unions. PRNnewswire.com. Retrieved 17 Aug 2016.
  16. 2016 Ranking Of Top Credit Unions. http://www.advisoryhq.com/.Retrieved 17 Aug 2016
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