Company History - Western's History - TRWSFCU's History
Company History
Western Federal Credit Union is a member-owned financial cooperative that integrates the credit union motto "people helping people" in all our business decisions. We hold steadfast in the belief stated by the treasurer of a midwestern credit union back in 1935 when credit unions were helping Americans through the Great Depression, "not for profit, not for charity, but for service."
Since the 2003 merger of equals with TRW Systems Federal Credit Union, Western is one of the nation's leading credit unions with over $1 billion in assets and over 119,000 members across the country. We have a diverse group of sponsor companies in our field of membership in industries such as information technology, service, airline, retail, manufacturing, and aerospace.
Western, like all credit unions, has a volunteer Board of Directors who is elected by the members. Since we don't have stockholders, we return earnings to our members through a full line of products and services, competitive rates, and fewer or no fees.
Western's Company History
- 1948: Founded as Westernaire Federal Credit Union by the employees of Western Airlines.
- 1982: Changed name to Western Federal Credit Union and merged with System Development Corporation Federal Credit Union.
- 1986: Merged with Blue Chip See's Credit Union.
- 2003: Merger of equals with TRW Systems Federal Credit Union.
- 2006: Merger with Toyota Federal Credit Union.
TRWSFCU's Company History
- 1955: Founded as the stated-chartered Ramo-Wooldridge Employees Credit Union by the employees of Ramo-Wooldridge Corporation.
- 1965: Changed name to TRW Systems Credit Union. (In 1958 Ramo-Wooldridge and Thompson Products Company merged to form Thompson Ramo-Wooldridge (TRW).)
- 1983: Obtained a federal charter after a merging with Sherwood Employees Federal Credit Union and changed name to TRW Systems Federal Credit Union.
- 2003: Merger of equals with Western Federal Credit Union.
