FAA Federal Credit Union is a not-for-profit, financial cooperative that exists to serve the employees within our various approved service employee groups. The Credit Union was originally chartered on July 21, 1954, as the Department of Commerce Memphis Employees Federal Credit Union. Our original seven charter members were Leo P. Greenwell, George W. Rhodes, Adams E. Elliot, Hawley Butler, James F. Arthur, William G. DeMoss, and Grady H. Bloodworth.
The Credit Union was chartered to serve the employees of the Department of Commerce which included the FAA ARTCC, Tower and Weather Bureau in Memphis. The name was officially changed to FAA Federal Credit Union in 1959. In 1977, the Houston, Texas FAA was incorporated into our field of membership. In 1983, Chicago Bridge and Iron Memphis Employees FCU merged with the FAA Federal Credit Union, and in 1984, Memphis Brewery Employees also merged. Later in the 1980s, other employee groups became a part of the field of membership as permitted by the NCUA.
As part of the expansion of the field of membership, FAA Federal Credit Union offered membership to the employees of JESCO and Cooper Tire and Rubber Company of Tupelo, Mississippi, in 1990 and Lane Furniture Industries in 2001. Currently, there are over 40 sponsor employee groups of FAA Federal Credit Union.
From the small space in the FAA Tower, to the basement of the Center, to the "trailer," we currently have seven branches, over 15,000 members nationwide, and assets of $82 million which makes the FAA Federal Credit Union one of the largest in the Memphis area.
