The History of America's Credit Unions
Our Credit Union exists as a cooperative, nonprofit association for the purpose of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition. This Credit Union, guided by its duly elected officers, recognizes its responsibility to the Credit Union movement as well as to its community.
History
Members Choice Credit Union was born in 1932 as Armco Employees Credit Union when Armco Steel employees got together to build a better financial life for employees and the community. Working on the principle of "people helping people," these pioneers paved the way so that future generations would know the credit union difference. The credit union began to grow in members, starting with just a few services - loans and savings. New products and services were added over the years to serve those members' needs. By the early 1990s, our credit union began offering our services to other employee groups in the area.
In 1993, we changed our name to Members Choice Credit Union to correctly reflect that our members indeed are the reason we are here. Our logo still reflects the trusted Armco triangle to represent our respect for Armco and those who vision to build a financial cooperative in our Eastern Kentucky town.
In 2010, Members Choice Credit Union was granted a community charter, which gives us the ability to offer membership to anyone who lives, works, worships, or attends school in the FIVCO area. Our goal was to partner in the community and help our area.
