Select Federal Credit Union Celebrates 80 Years
Updated: Jun 18, 2019
Chartered in 1939 to serve the employees of the Southern Pacific S. A. Division Railroad, Select Federal Credit Union, remained a single sponsor credit union until 1986 when the organization expanded its field of membership to the local community. In 1993, to better describe the credit union’s role in the community, the board decided to change the name to Select Employees Federal Credit Union. Later, in January 2011, they decided to drop “Employees” from the name, making it Select Federal Credit Union. Today, Select FCU has close to 7,000 members and assets totaling 47 million dollars. Due to its strength and growing capabilities, the credit union has also acquired several other credit unions in recent years. Throughout its history, Select FCU has been committed to the credit union philosophy of “People Helping People.” The credit union’s goal is to offer affordable financial services with better rates, lower fees and more personal service than other financial institutions. Select FCU has been designated a Community Development Financial Institution (CDFI), which means that it’s a mission-driven financial institution dedicated to providing financial services to meet the needs of economically disadvantaged individuals within under-served communities. Recently, the credit union was also designated as a Juntos Avanzamos credit union, which means that it’s committed to serving and empowering the Hispanic community. As with most credit unions, Select FCU is a member owned, not-for-profit, financial institution, which means that members have a say in how the credit union operates.