ORNL FCU 75 Years

As American astronauts took their first steps on the moon in 1969, ORNL Employees Federal Credit Union took its own giant step into a newly completed and dedicated office building at 215 South Rutgers Avenue. Over two thousand Above: ORNL Employees Federal Credit Union’s first office building at 215 South Rutgers Avenue. Left: Breaking ground for the new office building at 215 South Rutgers Avenue.

people attended its opening. The building housed a staff of ten, five of whom served as loan officers to streamline processing time. With assets totaling over $8 million, new services and

products introduced throughout 1969 included retirement savings accounts for members, personal service loan plans, and the telephone withdrawal of shares.

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DID YOU KNOW . . . Federally chartered credit unions are regulated by the National Credit Union Administration. Created by the US Congress in 1970, the NCUA is an independent federal agency that 1) insures deposits at federally insured credit unions, 2) protects the members who own credit unions, and 3) charters and regulates federal credit unions.

With the formation of the Environmental Protection Agency in 1970, Oak Ridge National Laboratory became more involved in environmental science via its new Ecological Sciences Division. The credit union moved further into the future as well, taking another major step toward automation by purchasing a computerized posting machine to increase efficiency and reduce wait time for members.

28 | 75 YEARS ORNL FEDERAL CREDIT UNION