Started in 1954 by a secretary named Mary Milla, the expansive institution once known as the ‘Fairchild Federal CU’ has become the comprehensive lending and banking services of the global credit union. Once a resource specifically for the military and civilian personnel at the Fairchild Air Force base, global cu now serves hundreds of thousands across the nation and overseas.
Humble Beginnings
The humble start of this company began at a kitchen table with an informal meeting between Mary and the Fairchild base military officials. They started the operation soon after obtaining the approval from the Federal Credit Unions Bureau and putting up just under $300 of capital. The first year saw those funds grow to include almost $40,000 from over 640 members.
By 1969, after Mary embarked on a campaign of written requests, a fortunate turn of events had given Ms. Milla the opportunity to open additional branches on U.S. air bases overseas. The first of Ms. Milla’s U.S. based credit unions landed in Aviano, Italy. The much needed union soon opened a second and third branch at Vicenza and Camp Darby. Both offices were established only two years after the opening of Aviano.
By 1982, the Department of Defense had granted the Fairchild CU permission to offer services to personnel serving in Turkey, Greece, and Crete, and a few years later in Sicily. By this time the humble business started at a kitchen table had begun offering drive up services, and changed their name to Global Credit Union to reflect their true scope of business.
Full Service
Today, they are a state-chartered operation serving the areas of Spokane, Pasco, and Kennewick in Washington with the distinguished privilege of being a state charter. In addition to this, they have opened several locations in Idaho and continue to do business on military bases. Global’s members have a full menu of products and services to choose from.
As a global member, you have access to traditional savings and checking accounts, a full spectrum of home, business, and personal loans, and comprehensive retirement services for setting up ira’s. Other products include credit cards for business and personal needs, as well as online banking support to manage accounts.
Balance Sheet
The union holds assets of over $360 million and now has upwards of 50,000 members. There are a total of sixteen branches employing over 150 professional personnel. As a union chartered by the state of Washington, their deposits are insured by the ‘National Credit Union Insurance Fund’ for a maximum of $250,000 per account. Spokane’s financial district is now served by comprehensive member business banking, as well.
Global CU offers an excellent example of a business started on a shoestring budget and expanding into a thriving corporation. To date, they continue to grow and provide a valuable resource for the communities they serve. With several charters granted to the company in Idaho, more members can receive the low cost advantage of banking with a credit union and having the security that comes from insured deposits. Steady growth is projected for the union well into the future.
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