This is our story.
(Meryl Streep keeps hounding us for a screenplay. The woman is relentless!)
In 1935, eleven Cedar Rapids teachers each put up $5 of their own money to form this credit union, where the funds deposited by teachers would be lent out to their co-workers in a not-for-profit, trustworthy manner. It was called the Cedar Rapids Teachers’ Credit Union. By the end of that first year, the credit union had 72 members and the largest loan granted was for $150. For decades, the credit union operated out of a cash box in the Treasurer’s home. Members deposited their share, $5, in installments. (Note: the $5 minimum deposit has never changed.)
In 1966, the name was changed to Cedar Rapids Community Schools Employees’ Credit Union to allow all Cedar Rapids school employees (other than just teachers) the option of joining.
In 1975, the name was changed to Linn Area Schools Credit Union to allow membership to any educational institution employee in the county – public or private. The following year, we merged with Kirkwood Community College Credit Union.
In 1977, we began offering checking accounts and added Saturday morning hours. The following year, we merged with Prairie Schools Credit Union.
In 1980, we installed our first data operating system.
In 1982, our name was changed to Linn Area Credit Union. After renting space this whole time, we bought our first building, which is the branch currently on 6th St SW. The credit union had 3,381 members.
In 1985, we installed our first TV surveillance system and opened a branch on the corner of 51st St and Center Point Rd NE. We had 4,636 members. The following year, our Marion branch moved from the Longfellow School Administration Building to 776 13th St.
In 1987, we changed to a community charter, allowing anyone living or working in Linn County the option of joining. This same year, we began offering credit cards and home equity loans. We had 6,260 members.
In 1988, we started holding our all-staff training meetings every Thursday morning. This tradition still takes place because we believe you deserve well-trained employees.
In 1996, we built our Blairs Ferry Rd NE branch and introduced debit cards.
In 1997, we introduced our initial Linn Area Credit Union website.
In 1998, we adopted the tag line “We are family” and introduced our online banking program. The following year we expanded our membership to include “anyone living or working in Linn or surrounding counties.”
In 2003, we built the branch on Mt. Vernon Rd SE and had 20,561 members.
In 2011, we built a brand new office at 3700 Edgewood Rd SW. Instead of a teller counter, the office was built with “pods” where members can interact side-by-side with credit union staff. At that time, membership was 23,054.
In 2013, we used the same style and design of the Edgewood Rd office and built a new branch at 3375 7th Ave in Marion. The old office at 985 31st St in Marion was listed for sale and there were 23,496 members in our family.
In 2016, the independent research firm of Callahan & Associates recognized us with a #1 national ranking for Return of the Member (ROM), which measures how well we return value to our members. We were the only Iowa credit union in our asset range ranked in the top ten.
To be partners in a successful future with our members and employees by providing caring financial services and community support