The year was 1932. The financial fallout caused by the Great Depression made life exceedingly difficult for countless Americans. The promise of a “New Deal” from newly-elected president, Franklin D. Roosevelt offered a glimmer of hope that the turmoil would subside, but it would take decades before the economy would take a turn for the better.
In the darkest days of that fateful year, a group of eleven El Pasoans took a modest step toward establishing financial independence when they formed the Federal Employees Credit Union. The instability of a failing economy brought these visionaries together. It was their belief in one guiding principle that launched a business culture that would carry on for years to come: a simple, yet powerful belief in “people helping people.”
With little fanfare and fifty-five dollars to their name, this group of pioneers laid the foundation for what would become one of El Paso’s most respected financial institutions, GECU. Over the years membership would be extended to everyone living in the surrounding region and GECU’s membership would skyrocket to a phenomenal 300,000 members. Recent estimates indicate that one in every three people living in El Paso County is a member of GECU.
After seventy-nine years in business that pioneering spirit is stronger than ever. GECU continues its steady growth building new branch locations and has taken major steps to incorporate new high-tech innovations into its menu of services. Today, GECU has grown to become the largest privately-owned financial institution in El Paso with assets of over $1.4 billion and 10 branches located throughout the city. While GECU has seen tremendous advancement throughout the years, one thing has remained unchanged, our fundamental belief in the power of people helping people.