In June of 1956, seven Spokane area Federal Government employees came together to form SFCU. In the beginning, volunteers managed everything, accepting deposits and making loans to their fellow members out of our first office in the Great Western Savings building at Lincoln and Riverside.
Good ideas have a way of catching on and gathering momentum. Over the years, we've merged with the Navy Supply Depot Credit Union and acquired three more: Spokane County Federal Credit Union, the Veterans Administration Credit Union, and Contented Federal Credit Union. (We do like that name, and even though we don't call ourselves Contented FCU, we still hope that's how we make you feel.)
Initially, employment with the federal government in Spokane served as the common bond for Spokane Federal Credit Union members. The Washington Army and Air National Guard and federal employees in 12 other counties eventually came on board, and now we have several Select Employee Groups (SEGs) who are also eligible to join SFCU.
With all that growth, we needed to find more room, and after the staff of Expo '74, Spokane's World's Fair, cleared out, we bought their headquarters building at 601 W Mallon.
The folks at SFCU like their jobs and tend to stick around for a while, so we've only had four top executives in our entire history. Ethel Bookman was the first paid manager, followed by Don Hitzel. He supervised SFCU until 1976 when Byron Edgett took over. Byron retired at the end of 2007 after 32 years of service to SFCU. Susan Blain became President/CEO in January of 2008.
While the Credit Union may have started out on a shoestring, with just a few hundred dollars and only seven dedicated people, we've managed to grow to the point where today we're 12,000 members strong with around $115 million in assets.
And we have members like you to thank for our organization's success.