A Message from the President
On March 26, we observed a landmark, as we celebrated our 65th anniversary. Yes, since 1948, the time of black and white TVs and 26¢ a gallon gas, we have been a valued financial partner to our members.
I hope you stopped by as we marked the day with refreshments and a raffle. I was fortunate to speak with several long-time members who shared their memories with me.
Their stories helped me appreciate how far we’ve come. When we were founded, credit unions offered only very basic services. Our first members, employees of the Navy Electronics Laboratory in San Diego (now Space and Naval Warfare Systems Center), couldn’t open checking accounts; we didn’t have them. In 1952, we began offering travelers’ checks and money orders, a convenience members greatly appreciated. In 1979, we introduced personal checking accounts and they’ve become one of our most popular services.
And credit cards were a service provided by banks. We introduced our first credit card in 1984, giving members an affordable alternative to high-interest bank and store cards, which were becoming weighted down with traps hidden in the fine print.
Some members may remember the term “banker’s hours.” That meant you could only get to your money from 10 am to 3 pm Monday through Friday. If you needed cash after hours, you were out of luck.
Access got exponentially better in 1981 when we installed our first ATM. Today, you can get money from your PLCU account 24 hours a day at nearly 30,000 free ATMs nationwide, and hundreds of thousands worldwide.
It’s almost funny to think how limited access was in our early years; our office was only open during lunch hour. Back then, if you had suggested that someday members could see all their account information, transfer funds, make loan payments, or pay bills any time of day or night, they would have laughed. Imagine doing your own banking with just a keyboard attached to a small TV screen. Online banking? Purely science fiction in 1948.
Over the years, we added more services, and became an increasingly essential part of our members’ financial plans. We made our first home loan in 1970 and since have helped thousands of members become homeowners or put their equity to practical use.
Some of our more recent services have allowed us to help improve our members’ financial wellbeing. Our investment services, first offered in 1992, help members receive expert guidance on alternative investments, insurance and reaching financial goals such as a secure retirement or college for the kids.
We added BALANCE, a free financial counseling service, in 2005. Two years later, we introduced our Youth Accounts for children, teens and young adults, each with age-appropriate services.
We’ve also been part of the greater community. We introduced our scholarship program for members headed to college in 1998. We have supported a great many charitable causes, including the Make-A-Wish Foundation, Juvenile Diabetes, breast cancer research, and Hispanic Awareness Month, to mention just a few.
Whatever we’ve achieved, our membership has been with us every step of the way. We could not have come this far without you believing in us and making us your first choice as a financial partner. Thank you on behalf of Point Loma Credit Union’s staff, management, and volunteer officials.
2013 is shaping up to be a great year. And what a great 65 years it’s already been.
Copyright © 2013, Point Loma Credit Union.