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Courts & Records Federal Credit Union began in the late 1930’s, as did many other credit unions, in the wake of the Great Depression–forged by a combination of skepticism and hope, old-fashioned values and a bold new vision.
Many Americans no longer wanted to trust their savings to the banks. And credit, for the average person, was hard to come by. “Loan sharks” preyed on the desperate needs of honest citizens in every city. But people were no longer complacent. Encouraged by the success of Roosevelt’s “New Deal,” many workers saw what could be accomplished when people worked together, helping each other, in a spirit of cooperation.
It was this vision that gave six men and one woman the inspiration to start the “Los Angeles County Court Employees Federal Credit Union” in 1937.
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