History

HISTORY OF THE BRITISH AIRWAYS FEDERAL CREDIT UNION

In 1951, a small Christmas Club was established by the staff of the BOAC Accounts department in Manhattan. The significant interest in this club, and it's rapid growth, created the need for the organization of a Credit Union. The British Airways Federal Credit Union was formally chartered by the National Credit Union Administration on February 5, 1953 and by the end of the first year, shares totaled $17,773.

Major factors in it's early growth were the addition of the British Airways reservations staff; implementation of Payroll Deduction; and the expansion of membership to the employees of the other airlines and travel partners that British Airways had interline agreements with.

The foundation of the Credit Union has stood well the test of time. It has responded to thousands of members during it's more than 57 years of service. We have seen it grow from an organization only offering regular savings and personal loans, to a full-service Financial Institution with a wide array of services.

Credit Unions like ours remain a bright spot in the financial community. Across the country, Credit Unions continue to grow by doing what we do best - providing our members with a safe place to save and a source of loans at reasonable rates.