The History of America's Credit Unions
Like all credit unions, The Wright Credit Union is a not-for-profit financial cooperative. Today The Wright Credit Union serves anyone who resides and/or works Stephens, Franklin, Hart, and Elbert County, Georgia.
History
The Credit Union was chartered on November 8, 1963 as Wright Manufacturing Employees Credit Union by the State of Georgia Department of Banking and Finance. The sewing plant owner, Ernest Wright, had been loaning his employees money from his own personal money. A need and common bond was established causing the employees to come together to form the credit union. The Credit Union added several other divisions from within the parent company of Oxford Industries over the years. Eventually when the textile business began opening factories more frequently out of the country, the sewing plants began laying off its employees. In 1993, Wright Manufacturing Co. announced its closing and the Credit Union moved to an outside location in Toccoa and changed its charter to include other SEG groups and changed its name to The Wright Credit Union. The Credit Union also merged two other credit unions, Orbit Industries Savings and Loan Association and Toccoa Casket Federal Credit Union into the membership. In 1998, the Credit Union purchased a building on Broad street where the Credit Union is still located. In 2002, the Credit Union changed its field of membership to include the residents of Stephens County making it a community credit union.
