80th Anniversary of Federal Credit Union Act celebrated

LITTLE ROCK, AR (June 26, 2014) — Eighty years ago today, the Federal Credit Union Act was signed into law by President Franklin Roosevelt. The historic law allowed credit unions to form across the nation.

Credit unions are not-for-profit financial cooperatives bound together by a common set of business principles and values. Since the signing of the Federal Credit Union Act, the number of credit unions has grown considerably. There are currently over 6,700 credit unions in the U.S., all offering a wide array of financial services, from checking accounts to mortgages to retirement planning. In 2013, Arkansas credit unions loaned $1.6 billion to members across the state.

Linda Jeffery, CEO of Arkansas’ oldest credit union, TruService Community Federal Credit Union, commented on credit union success since the Federal Credit Union Act was penned.  “Credit unions have never lost sight of our business principles and values, and we will continue to put our members and community first, as I believe that is what has made us such a successful movement.”

Like most credit unions, TruService Community Federal Credit Union strives to remove barriers for Arkansans that are unbanked and/or underserved. TruService also serves the community through its work with local civic organizations, fundraising and volunteering for charities like Children’s Miracle Network, and community financial education efforts.

About TruService CFCU:

TruService Community Federal Credit Union is a community credit union serving Arkansans in Pulaski and Faulkner Counties. Chartered in 1930 by U.S. Post Office employees, TruService is proud to be the oldest credit union in Arkansas.  

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