Truliant Federal Credit Union

Truliant Federal Credit Union is a not-for-profit financial institution that promises to always have its member-owners’ best interest at heart. Truliant improves lives by providing financial guidance and affordable financial services. Truliant was chartered in 1952 and now serves 250,000+ members. Truliant has more than 30 Member Financial Centers in North Carolina, South Carolina and Virginia.

Truliant Federal Credit Union
TypeCredit Union
IndustryFinancial Institution
FoundedJanuary 1, 1952
HeadquartersWinston-Salem, North Carolina, United States
Area served
North Carolina, South Carolina, Virginia
Key people
ProductsConsumer banking, business lending
Websitewww.truliantfcu.org

History
Headquarters of Truliant Federal Credit Union, Winston-Salem, NC.

Truliant Federal Credit Union was chartered in 1952 to serve the employees of Western Electric and was known as Radio Shops Credit Union. It began serving about 2,000 members and offered credit union services in Winston-Salem, Greensboro and Burlington.

In 1962, the name was changed to North Carolina Works Credit Union. Steady membership growth continued and increased to about 14,000 members by the end of the decade. In 1983, the name was changed again, to AT&T Family Federal Credit Union, accompanied by growth in services, with more mortgage loan services, Visa® credit cards, and checking accounts offered. By 1988 the credit union had 46,000 members. New Member Financial Centers were added in Virginia and North Carolina and the credit union began growing its presence in Charlotte.

By the early 1990s, AT&T Family Federal Credit Union had 110,000 member-owners. New Member Financial Centers continued to accompany growth during this decade when the credit union launched its first website, and began to offer debit cards and online banking services

By 2000, with membership at about 163,000 members, Truliant continued to expand access to credit union services, opening branches in areas of South Carolina and Virginia. In 2004, Truliant merged with Victory Masonic Credit Union, the oldest historically African American credit union in North Carolina, and later opened branch for Victory members in a developing area of downtown Winston-Salem, N.C.

Truliant's Victory branch in downtown Winston-Salem.

In 2004, the credit union and Victory Masonic Credit Union, the oldest historically-black credit union in North Carolina, merged with Truliant.[1]

In 2005, it passed $1 billion in assets[2] and opened its Truliant Way headquarters, where its administrative offices are located today. In 2008, it opened a second location in Greensboro, North Carolina.[3]

In 2007, Truliant's Victory branch opened in a developing area of downtown Winston-Salem, N.C.

Truliant continues to innovate in the current decade. In 2010, Truliant began implementing new Small Business Administration programs and began offering No-Cost Credit Reviews to help members understand their complete financial picture. In April 2011, the credit union launched its first mobile banking app for iPhone.

More recently, the credit union began an intensive expansion of credit union services, adding a second branch in Burlington and a sixth branch Forsyth County[4] in 2014. The credit union also announced plans to open ten Member Financial Centers in the Charlotte-Mecklenburg region by the end of 2016, which will bring its total branch count to 33.

On June 17, 2019, Truliant Federal Credit Union filed suit against SunTrust and BB&T claiming trademark infringement [5] over the proposed new name of the merged entity, Truist Financial Corporation. Truliant is concerned about confusion between the similar names, including Truliant products with "Tru" in their names.

Today, Truliant serves more than 250,000+ member-owners with assets over $2 billion.[5] Truliant has more than 30 Member Financial Centers who extend valuable services to members and more than 1,100 organizations located throughout North Carolina, South Carolina and Virginia.

Role in Credit Union Membership Access Act (H.R. 1151)

AT&T Family Federal played a key role in a court case that ultimately resulted in the 1998 signing into law [6] of the Credit Union Membership Access Act (H.R. 1151), which expanded credit union membership nationally. This new law enabled credit unions to expand their charters to include additional occupational groups and community groups, people who lived, worked, worshiped or attended school in the community, to have access to credit union membership and benefits. The credit union then changed its name the next year and became Truliant Federal Credit Union to reflect this change.

Growth Plans In Charlotte

In 2014, the credit union began adding the first of ten new locations [7] in the Charlotte-Mecklenburg region of North Carolina. The build was complete in Spring 2017, giving Truliant 33 Member Financial Centers. Truliant has opened new branches [8] in Mint Hill, Harrisburg, Cornelius, South Boulevard, Waverly, Steele Creek, Ballantyne, Huntersville, Mallard Creek, and Park Road sections of Charlotte.[9]

Truliant is insured by the National Credit Union Administration (NCUA) and is an equal housing lender.

References
  1. "Victory Masonic Mutual CU, Historic Black-owned Community CU, Merges With Truliant FCU in Unique Arrangement". January 7, 2004. Retrieved 2015-10-31.
  2. Craver, Richard (May 12, 2005). "Truliant Federal Credit Union surpasses $1 billion in assets". Winston-Salem Journal. Retrieved 2009-11-16.
  3. "Truliant Federal Credit Union to open second Greensboro location". News & Record (Greensboro, North Carolina). August 21, 2008. Retrieved 2009-11-16.
  4. "New Truliant branches stretch credit union's reach - Greensboro - Triad Business Journal". Triad Business Journal. Retrieved 2015-10-31.
  5. Combs, Heath (July 3, 2017). "Press Release l Truliant Federal Credit Union". Truliant Federal Credit Union. Retrieved July 3, 2017.
  6. "Credit unions celebrate congressional victory - Puget Sound Business Journal". Puget Sound Business Journal. Retrieved 2015-10-31.
  7. "Truliant Federal Credit Union to expand in Charlotte - Charlotte Business Journal". Charlotte Business Journal. Retrieved 2015-10-31.
  8. "Press Releases | Truliant Federal Credit Union". www.truliantfcu.org. Retrieved 2015-10-31.
  9. "The Briefcase: Truliant completes Charlotte expansion initiative". Winston-Salem Journal. Retrieved 2017-07-03.

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