Denali Alaskan Federal Credit Union

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Denali Federal Credit Union
Credit union
Industry Financial services
Founded 1948
Headquarters Anchorage, Alaska
United States
Key people
 Karen Morrissey, Chair Bob Teachworth, CEO
Products Savings; checking; consumer loans; mortgages; credit cards
Total assets $450M USD
Website denalifcu.org

Denali Federal Credit Union is a credit union based in Alaska, USA. The Credit Union primarily serves the communities of Anchorage, Eagle River, Fairbanks, Juneau, Kenai and Wasilla. It is the third largest credit union in Alaska.[1] Denali Federal Credit Union has grown to add Denali Alaskan Home Loans, Denali Alaskan Insurance, and Denali Alaskan Investment Services to their list of services. At the end of October 2011 Denali Alaskan Federal Credit Union began participating in Bank Transfer Day.[2]

History

The City of Anchorage Employees Federal Credit Union was chartered on December 6, 1948. Charter 5912[3] 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 Alaskan Federal Credit Union, still operating under charter number 5912. The Alaska Railroad Federal Credit Union (Charter 6244), another predecessor to Denali Alaskan, was chartered in July, 1949.

Over the years a number of credit unions were chartered, or merged with existing Alaska credit unions, to create what eventually 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.

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.[4] On September 27, 2010 the NCUA made permanent the $250,000 limit.[5]

References

  1. ↑ From the Alaska Business Monthly article http://www.allbusiness.com/north-america/united-states-alaska/643024-1.html
  2. ↑ Denali Alaskan Federal Credit Union's Bank Transfer Day Poster https://www.denalifcu.org/servlet/download?id=1185
  3. ↑ 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.
  4. ↑ NCUA Press Release http://www.ncua.gov/news/press_releases/2009/MR09-0526.htm
  5. ↑ NCUA Press Release http://ncua.gov/news/press_releases/2010/MR10-0917BoardMakes250KInsurancePermanent.pdf

External links

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