Justice Federal Credit Union | Celebrating 75 Years of Service

1930’s

The credit union movement starts with a simple idea—to empower people to achieve a better standard of living by pooling savings and providing loans to neighbors and co workers.

JUNE 26, 1934 FDR signs the Federal Credit Union Act and The Credit Union National Association (CUNA) is established, providing insurance, auditing, and supplies to credit unions.

MARCH 2, 1935 Twelve Department of Justice employees organize to form a credit union offering employee access to low cost loans and savings accounts. With only $137 in assets and 41 charter members, The Department of Justice Federal Credit Union (DOJFCU) is founded.

President Roosevelt signs the Federal Credit Union Act.

1940’s

By 1948, DOJFCU is the second largest of 118 credit unions in the District of Columbia with loans exceeding $3M.

Credit Union President J. Edward Williams reports, “Many have found satisfactory low-cost automobile financing only at the Credit Union, for the plan offered is a simple one and loans are made without any hidden charges and without any interest deduction in advance.“

1950’s

1954 With 6,142 members and a 75% participation rate, President Williams reports, “We are the highest of the Big 5 credit unions.”

1956 Assets climb to $1.7M, and member loans since inception total $12.5M. Federal Examiners estimate members have saved more than $1M in interest and costs.

DOJFCU far surpasses nationwide averages with 6,400 members and participation topping 80%.

DOJFCU President, J. Edward Williams, presents the annual statement to Attorney General, Tom C. Clark.

1960’s

1960 DOJFCU celebrates 25 years of service with $19.5M in loans. Debt consolidation, vacation, medical, automobile, and furniture rank as the most popular loan types. Two loan officers are appointed and limits for personal loans increase from $400 to $750.

1961 Another banner year with record loan volume of $1.742M and a 4.75% member dividend paid. Sophisticated Postronic bookkeeping system is implemented.

1970’s

1970 Commemorating 35 years of service, “The Credit Union has grown from a small organization to an important financial institution in the lives of many members,” says Edward W. Scott, Jr. President.

1972 Assets reach an all time high of $6.9 million with membership growing to 11,347. Credit union services are now available to more than 44,000 Justice and U.S. Court employees worldwide. Attorney General Richard G. Kleindienst officially opens new DOJFCU office facilities in the Main Justice building.

1975 Branch office at the J. Edgar Hoover Building opens.

1979 DOJFCU celebrates 45 years of service and implements important new services including:
• DOJFCU issued credit cards • 30 year mortgages
• Special student loans • High value, long-term auto loans.

1980’s

1980 Deregulation creates new product offerings including checking accounts and IRAs. Debit cards and second mortgage loans are now available.
1981 Personal, auto, and real estate loans top $7M and student members receive $1M in lending.
1982 In the midst of a recessionary economy the Credit Union posts substantial increases over 1981.
1983 The most successful year in the Credit Union’s 49 year history, assets grow 32%, providing members the highest rates of return. DOJFCU joins the Most and Plus networks, and aquires three ATMs.
1985 Now 50, the Credit Union is recognized as one of the oldest such institutions in the United States. Nearly 75% of members take advantage of “the best car loan rates anywhere.” New services include:
• Financial planning • IRA loans • AmEx Gold Cards
• Below market home equity loans • 1st and 2nd mortgages
1988 “The Informer telephone banking system” provides 24/7 phone access to accounts.

Solicitor General Rex Lee becomes the first member to use the Main Justice ATM.

1990’s

1990 DEA satellite branch opens.
1991 D.C. Field Office launches.
1992 Bureau of Prisons branch opens in Northwest Washington.
1995 Second full-service branch opens in the J. Edgar Hoover Building. The Credit Union steps in to assist over 1,000 members with low interest rate loans during the government furlough.
1996 The Department of Justice Federal Credit Union is officially renamed Justice Federal Credit Union, (Justice FCU). New administrative Headquarters open in Arlington, VA and assets total $130M with loans of $94.7M.
1997 Justice FCU posts record membership growth of nearly 18%. New York City branch opens to serve FBI employees. Justice FCU Visa Check Card offered. The FBI National Academy Associates, Inc. launches Official Visa card with Justice FCU.
1998 The Patrick Henry branch opens and four new ATM locations are added as MemberLink online banking debuts.
1999 Justice FCU relocates to new administrative headquarters in Chantilly, VA.

2000 - 2005

2000 Justice FCU celebrates its 65th year as it partners with the National Sheriffs Association and offers the VISA Platinum Card.

2002 The Credit Union merges with Wilshire West and opens a branch in San Diego.

2003 With 16 branches nationwide, assets grow to $314M. Employees of the Department of Homeland Security, FBI, and National Executive Institute join Justice FCU.

2004 No-fee withdrawals available to members at more than 50,000 ATMs, nationwide. FBI Law Enforcement Executive Development Association launches VISA Affinity card.

2005 Assets top $374M with 42,984 members. Auto loans contribute to record setting consumer loan growth of 22%.

2006 - 2010

2006 Public branches open at U.S. Courthouse in Washington, D.C. and Corporate Headquarters in Chantilly, VA. The National Native American Law Enforcement Association joins Justice FCU as an Affinity partner.

2007 Assets build to $413M. Student VISA card launches. Justice FCU welcomes the Society of Former Special Agents of the FBI as an Affinity partner.

2008 New consumer and real estate loans top $100M, with assets of $443M. Member satisfaction hits record high.

2009 Beyond the Badge Services introduced to members 55 and older. Honors Portfolio is offered to new Agents and U.S. Attorneys.

2010 The 41 original Justice FCU members have grown in the space of one lifetime to 47,000 of us across the nation, and around the world. we are committed to continuing to build on this success as we work with our partners in the Justice community.