Cheney Federal Credit Union Celebrates 65th Anniversary

Cheney FCU’s roots are deep and member focused, typical in the Credit Union Movement. The credit union was founded by a group of 10 people at Eastern Washington University. They pooled their funds so they could make loans to their co-workers and neighbors. According to COO Lynn Mount, the credit union’s books were kept in founding member Mildred King’s desk drawer in her office in Showalter Hall.

The original charter allowed them to serve federal, state, and local government employees. In 2013, CFCU was granted a community charter to serve everyone who lives, works, worships, or attends school in the Cheney and Medical Lake School Districts. The credit union’s 13 full-time employees serve 4,900 members of the 44,000 eligible to join. Mount said they’ve grown to $89 million in assets and a $34 million loan portfolio.

Mount pointed out that this anniversary isn’t the only milestone the credit union celebrated in February. February 4 was CEO JoAn Sanders’ 25th anniversary with CFCU. Sanders started as a loan officer and assistant manager in 1991 and worked her way up to her current position.

Questions about this story? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

Posted in Federal.