Denali Federal Credit Union
 | |
| Credit union | |
| Industry | Financial services |
| Founded | 1948 |
| Headquarters |
Anchorage, Alaska United States |
Key people | Bill Murray, Chair Bob Teachworth, CEO |
| Products | Savings; checking; consumer loans; mortgages; credit cards |
| Total assets | $600M USD |
Number of employees | 350 |
| Website |
www |
Denali Federal Credit Union is a credit union based in Anchorage, Alaska, United States. The Credit Union serves communities throughout Alaska, and Washington. It is the third largest credit union in Alaska.[1] Denali Federal Credit Union has grown to add Denali Home Loans, Denali Alaskan Insurance, Denali Investment Services and Denali Business Lending and Business Service to their list of services.
History
The City of Anchorage Employees Federal Credit Union was chartered on December 6, 1948. Charter 5912[2] was issued by the Bureau of Federal Credit Unions, which was part of the Department of Health, Education, and Welfare, within the Social Security Administration. The Credit Union began with eight members and $40 in assets. This credit union was the forerunner to today's Denali Federal Credit Union, still operating under charter number 5912. The Alaska Railroad Federal Credit Union (Charter 6244), another predecessor to Denali, was chartered in July, 1949, and brought under charter member 5912.
Over the years a number of credit unions were chartered, or merged with existing Alaska credit unions, to create what became Denali Alaskan Federal Credit Union in 1997:
- The Teamsters Federal Credit Union is formed in January, 1964.
- The Anchorage Natural Gas Employees FCU merges with Alaskan Employees FCU in 1975, and the name of the Credit Union was changed to Alaska Municipal Employees FCU (AMEFCU).
- The Chugach Electric Association FCU merged with AMEFCU in 1977.
- The Western Trades FCU merges with AMEFCU in 1982; the subsequent Credit Union changes its name to Alaskan Federal Credit Union in 1984.
- The Alaska Feminist Credit Union merges its field of membership with Alaskan FCU in 1985.
- The Alaska Railroad and Teamster Federal Credit Unions merge to form Denali FCU in 1986.
- Denali and Alaskan Federal Credit Unions merge on January 1, 1997 to form Denali Alaskan Federal Credit Union. The combined assets of the credit union exceed $400 million, and service extends to more than 55,000 members in Alaska and the Lower 48.
On Jan. 1, 2016, Denali Alaskan dropped "Alaskan" from its name to become Denali Federal Credit Union. Membership is reported at more than 65,000 members and assets are $600 million.
NCUA insurance of member accounts
As of October 3, 2008, National Credit Union Administration increased member account insurance from the National Credit Union Share Insurance Fund to $250,000 (from $100,000). In May 2009, the member account insurance amount of $250,000 was extended to 2013.[3] On September 27, 2010 the NCUA made permanent the $250,000 limit.[4]
References
- ↑ From the Alaska Business Monthly article http://www.allbusiness.com/north-america/united-states-alaska/643024-1.html
- ↑ From the NCUA website, you can link to show Denali Alaskan's charter number. Info on DAFCU at http://webapps.ncua.gov/cgi-bin/cudataexpanded.cgi?Charter=5912&CFServer=reports.ncua.gov.
- ↑ NCUA Press Release http://www.ncua.gov/news/press_releases/2009/MR09-0526.htm
- ↑ NCUA Press Release http://ncua.gov/news/press_releases/2010/MR10-0917BoardMakes250KInsurancePermanent.pdf