About Allied FCU
Our Mission: To provide quality financial services to the communities we serve.
The History of AFCU
In 1965, Arlington city employees chartered AFCU through the National Credit Union Administration to provide financial benefits to co-workers. Initially serving only City of Arlington employees and families, the credit union operated from the city’s payroll department with volunteer board members.
The late 1970s brought expansion to North Central Texas Council of Governments and Trinity River Authority employees. The 1980s added City of Mansfield and Electrocom Automation (now Siemens) employees. By 1997, AFCU served over 70 employee groups.
In 1998, AFCU received a community charter for Arlington, expanding to Mansfield in 2001. In 2014, Arlington Federal Credit Union became Allied Federal Credit Union, reflecting our service to Arlington, Mansfield, Pantego, and Dalworthington Gardens.
Credit Union Q & A
What is a Credit Union?
A cooperative, not-for-profit financial institution owned and controlled by members through an elected volunteer board. Members receive safe, convenient savings and borrowing at reasonable rates from an institution that exists to benefit them, not generate profit.
Who owns a credit union?
Members own the credit union – each member owns one share and can vote on important issues like board elections. Unlike banks owned by stockholders seeking profit, credit unions serve member-owners.
How did credit unions start?
Credit unions began in Germany over a century ago. In America, St. Mary’s Cooperative Credit Association opened in Manchester, New Hampshire in 1909. Today, one in three Americans belongs to a credit union.
What is the purpose of a credit union?
To encourage member savings and provide loans to people of ordinary means. As nonprofit cooperatives, credit unions offer lower loan rates and higher savings dividends by returning earnings to members instead of paying stockholder profits.
Are savings deposits insured?
Yes. All accounts are insured to $250,000 by NCUA (National Credit Union Administration), backed by the full faith and credit of the U.S. Government.
Who can join a credit union?
Credit unions serve specific groups within their “field of membership.” AFCU serves those who live, work, go to school or worship in Arlington, Mansfield, Dalworthington Gardens, or Pantego, along with their immediate family members.
