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Savings, Checking, and More with Sacramento Credit Union
Sacramento Credit Union was founded in 1935 as Sacramento County Employees Credit Union; just one year after the Federal Credit Union Act was passed which provided credit unions a federal charter. The California of 1935 was a very different place than it is today, and the former hub for the gold rush turned northern end of the rich agricultural central valley was in need of finding ways of coming together during the tough times of the Great Depression.
You may be wondering what a credit union is. Credit unions are not-for-profit organizations owned by the members of the credit union. These types of financial institutions are able to give better rates on fees and loans than big banks can, and they also give out dividends to their members, instead of shareholders. The board of directors of a credit union typically draws its members from the credit union’s members.
First opened in a disused building before moving to the current main office on H Street in Sacramento in 1945, SCECU changed its name to ...Contd...