News : DCUC Member Credit Union Press Releases

Keesler Federal Credit Union Celebrates 70th Anniversary

Tuesday, September 26, 2017  
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Keesler Federal Credit Union Celebrates 70th Anniversary

 

Keesler Federal Credit Union on Sept. 29, 1947, began in inauspicious fashion: 32 Civil Service employees at Keesler Field joined as the initial members. Each paid a 75 cent share fee and a 25 cent membership fee. By year end membership totaled 100 and assets a whopping $2,200.

But those 32 laid the groundwork for what is now a financially strong, federally insured company providing an array of products and services to its members.  Keesler Federal today has more than $2.5 billion in assets and a membership of 200,000 plus.

Keesler Federal will begin celebrating its 70th year this Friday with festivities at its branches and an eye on growing its footprint.

“Keesler Federal is a true business success story, a not-for-profit cooperative started by people wanting to help its members and better the community,” said Andy Swoger, Keesler Federals’ CEO and President. “That mission continues today with what we call the ‘Keesler Difference’ by providing members lower loan interests, higher savings rates and being active members in our community. We like to do things the right way and want our members to benefit, not shareholders.”

Membership is no longer limited to civil servants working on the base but open to many groups: any residents of Hancock, Harrison, Forrest or Pearl River Counties, and select census tracts in Jackson and Hinds Counties; 300 plus selected employee groups, or any person who has a family member who is a Keesler Federal member.

Keesler Federal is approximately seven times larger than any credit union in the state, and makes one of every five automobile loans on the Mississippi Gulf Coast.

But it is still an organization focused on benefiting the bottom line for members. That is one reason the board members, who put in countless hours, serve without pay.

Biloxi-based Keesler Federal operates a 27-branch network, including three branches in England through an agreement with the Royal Air Force. Closer to home it recently expanded into South Louisiana and opened two offices in the Jackson area. The company’s newest branch is located on U.S. 49 in Wiggins, built to handle member needs after outgrowing its former location.

Additionally, Keesler Federal offers members the latest technology including online bill pay, SelecText (account information via text), DepositNOW (deposit via a photo with a scanner) and MyFi Pro (view all financial accounts in one location).

A unique benefit Keesler Federal offers is its Member Giveback program, in which members are randomly selected to receive financial rewards. Originally, the giveback was one loan payment, and last year 23 members received payments on auto loans totaling more than $8,000 and 12 members were awarded mortgage payments totaling more than $12,000.

The program has been expanded with 35 members selected every month to win prizes ranging from a $100 deposit to a loan payment to a doubled direct deposit.

“The Member Giveback program was developed to make a difference, and after seeing the success we thought it was appropriate to expand it to include more members,” said Swoger. “Our goal day in and day out is to provide superior service and the solutions our members need. Keesler Federal owns a rich history of service. We are proud of our past and excited about the opportunities that the next 70 years will bring.”