History
Federal Employees Credit Union (FECU) was chartered in February 1963 under the
Oklahoma State Banking Laws. It was originally located in the basement of the
Federal Courthouse. At the end of 1963, FECU had 266 members and $95,408 in assets.
In 1971, the credit union had 5 employees and $990,000 in assets. The credit union
grew steadily, and in 1977 it moved into the newly completed Alfred P. Murrah
Federal Building. The credit union and the Social Security Administration were
the first agencies to move into the building. FECU continued its growth and expansion,
and soon took up 6,000 square feet with 33 employees and assets of $76 million
by April 1995.
1995 was a year that will go down in history and never be forgotten.
The morning of April 19th, 1995, found the staff of FECU tending to business as
usual and at 9:02 a.m., our lives changed drastically forever. The staff of 33
employees was reduced to 15 within seconds. Six of the 15 were seriously injured.
In the following 45 days after April 19th, 22 credit unions sent 58 volunteer
staff to assist us. We were miraculously restored and able to take care of member's
needs within 48 hours at a temporary site furnished by Tinker Federal Credit Union.
We continued to grow, and ended 1995 with a healthy transfer to our reserves and
undivided earnings.
In February 2002, Federal Employees Credit Union became a community charter, allowing
membership from the six counties surrounding Oklahoma City. This new charter gives
us the advantage of not only serving our current members as we have always done,
but now we can serve anyone in the local community. We view this charter change
as an opportunity to accelerate our branching plans, as a community charter will
allow us to physically expand to meet the needs of our members throughout the
Oklahoma City metro area.
Along with our change to a community charter, we also changed our name effective
May 1, 2003, to Allegiance Credit Union. We wanted a name that reflected our federal
heritage and was more inclusive of our membership. As we focused on our history,
our ability to prevail, and most importantly the devotion of our members, the
name Allegiance Credit Union was selected.
Today, Allegiance Credit Union continues to grow in asset size, membership, and
branch locations. We feel the legacy of FECU, the restoration, and our continued
growth as Allegiance Credit Union will bring great pride to those we lost who
served so selflessly to meet the needs of our members. We look to the future with
great anticipation.
