The History of America's Credit Unions
Headquartered in Biloxi, MS, Keesler Federal Credit Union serves more than 300,000 members worldwide and operates branches in Mississippi, Louisiana, Alabama, and the United Kingdom. Offering a comprehensive array of financial products and state-of-the-art technology and services to its diverse and expanding field of membership, the credit union seeks to fulfill its purpose to build a better community – one member, one relationship, one financial solution at a time.
History
Keesler Federal was established in 1947 by a group of 10 civil service employees at Keesler Field (now Keesler Air Force Base). Guided by the credit union movement’s motto of “people helping people,” the founders pooled their funds together and recruited other civilian employees on base to join by contributing an introductory $.75 for a share and a $.25 membership fee. The share amount was soon increased to $5.00 and has remained so to this day.
By the end of 1948, the credit union had grown to 270 members and in 1949 was able to pay 4.8% in dividends. The first paid employee was not hired until 1950. In 1956, the credit union received approval to accept military members and membership began to grow exponentially. By 2022, what began as a modest, grassroots, highly localized credit union proudly celebrated its 75th anniversary as one of the largest credit unions in the United States with $4.3 billion in assets and a net worth of $535 million. It has also been the recipient of numerous accolades, including being recognized by Forbes as “Mississippi’s Best-In-State Credit Union” for five consecutive years. Despite this transformation, Keesler Federal remains true to its commitment to helping members build and protect wealth through value-driven products and services, as well as giving back to its membership and the communities it calls home.
In 2022, Keesler Federal’s Member Giveback program returned over $11.2 million to members through credit card rewards, checking rewards, scholarships, discount partnerships and innovative programs such as the monthly member giveback drawing. In addition, Keesler Federal’s Community Giveback program donated approximately $1.5 million to improve the lives of people in its service footprint through signature initiatives such as the First Responder of the Year awards, Backpacks for Bright Futures and the Eagles Under the Oaks golf tournament benefiting Combat Wounded Veterans of South Mississippi.
