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Security Service Federal Credit Union

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Security Service Federal Credit Union
Company typeCredit union
IndustryFinancial services
Founded1956
Headquarters16211 La Cantera Parkway, San Antonio, Texas
United States
Number of locations
70 (37 service centers in Texas; 19 in Colorado; 14 in Utah (2011)
Area served
South Texas and El Paso, Limited areas in Colorado and Utah
Key people
Col. James (Jim) O'Farrell (Ret.) (Chairman)[1]
Jim Laffoon(President)
ServicesSavings; Checking; Consumer Loans; Mortgages; Credit cards; Investments
Number of employees
1,675 full-time; 184 part-time[2]
SubsidiariesSSFCU CUSO
CU Direct Corporation
CU Cooperative Systems
CU Service Network of Colorado[2]
Websitehttp://www.ssfcu.org/

Security Service Federal Credit Union (SSFCU) is a federally insured, federally chartered, $8 billion,[3] natural person credit union with more than 925,000 members, operating from 70 service centers in the U.S. states of Texas, Colorado, and Utah. SSFCU is the largest credit union in San Antonio, Texas, 3rd largest in Colorado, and the 8th largest in the United States, with access to more than 5,000 credit union locations nationwide through CU Service Centers shared branching.[4]

The routing number for Security Service Federal Credit Union is 314088637.[5]

History

Security Service Federal Credit Union began in 1956 with eight members and $25 in deposits. This not-for-profit, member-owned financial institution was founded to serve the financial needs of the U.S. Air Force Security Service. The credit union charter has expanded to serve more than 925,000 members and more than 2,400 ways to join including several geographic locations.

Mergers and acquisitions

Mergers, initiated by other credit unions, and some facilitated by the National Credit Union Administration, have helped expand the SSFCU field of membership and also responsible for the credit union entry into Colorado and Utah. A merger with the Fort Carson Federal Credit Union in 1980 brought Security Service to Colorado Springs and Pueblo, CO, with the merger of Mt. Carmel Credit Union in 1989. In 2004, SSFCU acquired Diakonia Credit Union in Denver, Colorado which added their presence in the Denver market. In 2007, Security Service acquired New Horizons Community Credit Union in Denver, Colorado, further expanding the Denver area with 4 new service centers, and Diocese of Corpus Christi Credit Union in Corpus Christi, Texas, establishing a service center in the Coastal Bend area of Texas. Also in 2007, SSFCU merged with Kilowatt Federal Credit Union in Harlingen, Texas, with 2 service centers in the Rio Grande Valley. In 2008, SSFCU merged with Horizon Credit Union in Portland, Texas (adding 3 additional Coastal bend locations) and Bexar County Teacher’s Federal Credit Union in San Antonio, Texas (their first location in Downtown San Antonio). 2009 brought the credit union with two more acquisitions, another credit union in the Denver area (Aurora Catholic Credit Union) and its first presence known in West Texas ironically called West Texas Credit Union in El Paso, TX.[6] During the late 2000s recession, SSFCU acquired the struggling Norbel Credit Union of Colorado and its 16,000 members in a liquidation process. The Norbel board of directors selected Security Service to be its acquirer judging it to be extremely well suited to serve its members.[7] In December 2010, the NCUA approved Security Service's offer to assume Salt Lake City's Beehive Credit Union's assets, making its first presence in the cities of Salt Lake City, Provo, Riverton, Sandy, South Jordan and St. George, Utah. In February 2011, Security Service FCU also acquired Family First Federal Credit Union of Orem, Utah. In addition to Orem, Security Service added locations in Pleasant Grove, Springville, American Fork, Payson and Lindon, Utah to its network of service centers.[8]

May 1974 San Antonio Air Guard CU San Antonio, TX
April 1975 Camp Stanley CU Uvalde, TX
March 1980 Ft. Carson FCU Ft. Carson, CO
April 1983 Honey Capital CU Uvalde, TX
September 1986 Southwest Methodist FCU San Antonio, TX
July 1987 Metrotech CU San Antonio, TX
October 1987 Joske's FCU San Antonio, TX
February 1989 Mt. Carmel CU (Catholic) Pueblo, CO
March 1989 Bordens Dairy CU San Antonio, TX
February 1993 San Antonio Light Credit Union San Antonio, TX
September 2004 Diakonia CU Denver, CO
July 2007 Diocese of Corpus Christi FCU Corpus Christi, TX
New Horizon Community CU Denver, CO
August 2007 Kilowatt FCU Harlingen, TX
January 2008 Horizon FCU Portland, TX
December 2008 Bexar County Teachers FCU San Antonio, TX
March 2009 Aurora Catholic FCU Aurora, CO
October 2009 West Texas Credit Union El Paso, TX
July 2010 Norbel Credit Union Fort Collins, CO
December 2010 Beehive Credit Union Salt Lake City, UT
February 2011 Family First Federal Credit Union Orem, UT

Membership

A wide range of military, government, school, religious, and business organizations are Select Employee Groups (SEGs) eligible for SSFCU membership. Additionally, persons who live, work, or worship in the following communities qualify:[9]

Texas communities

Colorado communities

Utah communities

  • Salt Lake County, Utah
  • Utah County, Utah
  • St. George Area Chamber of Commerce: Members (including organizations, associations, and businesses) of the St. George Area Chamber of Commerce and their employees as well as employees of the St. George Area Chamber of Commerce
  • Member of the Utah National Guard
  • Employees of State of Utah
  • Members, employees of the Chiropractic Profession who hold license to practice in the State of Utah

Family members of current members are also welcome to join.

Services

Security Service Federal Credit Union offers these services:

Naming rights

Security Service Federal Credit Union purchased the naming rights to Security Service Field in Colorado Springs, Colorado.

References

  1. ^ Security Service Federal Credit Union (March 2012). "Security Service Announces 2012 Volunteer Board of Directors". Retrieved 2012-03-28.
  2. ^ a b "NCUA Form 5300 (Statement of Financial Condition)". May 2011. Retrieved 2011. {{cite web}}: Check date values in: |accessdate= (help)
  3. ^ Facts about Security Service
  4. ^ Facts About Security Service
  5. ^ Routing number
  6. ^ Antonio, San (2009-10-01). "Security Service buys El Paso credit union".
  7. ^ Norbel closes and assets sold
  8. ^ Security Service FCU Acquires Family First Federal Credit Union
  9. ^ "https://www.ssfcu.org/en-us/services/join/Pages/default.aspx">[1], Ways to Join
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