The History of America's Credit Unions
Texas Bridge Credit Union is a voluntary cooperative, not-for-profit savings institution, incorporated under the Texas Credit Union Act in 1951 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 financial organization in order to improve their economic well being.
History
More than 70 years ago, ten employees with the City of Corpus Christi took action to charter our credit union. Their intent was to assist poorly paid city employees who often went to ‘loan sharks’ for high interest loans. This activity would create a nuisance around city offices on paydays from the ‘loan sharks’ waiting to collect on loans made to the employees. To minimize these problems, the original founders petitioned the Texas State Banking Department for a credit union charter to help city employees obtain credit at reasonable rates. With $65 in original share deposits, City Employees Credit Union received its charter in June 1951. By September 1951 the credit union had $13,504 in assets.
Eventually the credit union moved into a small, cramped office at the Broadway Water Treatment Plant. It was managed by volunteers on a part-time basis in an 8 foot by 30 foot office shared by a secretary, payroll clerk, sewer superintendent, assistant superintendent and a Cocker Spaniel named Taffy. Most credit union business was handled by division clerks and through interoffice mail. Employees enjoyed basic services such as personal loans and savings using the convenience of payroll deduction.
By the mid 1960’s the credit union hired its first full-time manager. In 1970, our name was changed to Corpus Christi City Employees Credit Union. From these humble beginnings the credit union grew and moved to larger offices over the years until finally constructing our 2140 Gollihar Rd. office in 1989. On June 18, 2009 we opened our second office at 3131 Holly Road.
In 2016, the Board of Directors voted to change our name from Corpus Christi City Employees Credit Union to Texas Bridge Credit Union. This name change allows our credit union to be more reflective of our expanded field of membership and the many more members we can serve. Adopting the new name Texas Bridge Credit Union allows us to communicate more effectively and accurately our field of membership and who we can serve within our community. Our goal is to continue to expand our membership while also continuing to grow our products and services to serve each of our member’s needs.
