History of HEWFCU
HEW Federal Credit Union received its charter and started operation on May 26, 1936, just two years after the passage of the Federal Credit Union Act. The charter was originally issued in the name of Social Security Employees Federal Credit Union. The name was changed to FSA Employees Federal Credit Union in 1946, and eventually to HEW Employees Federal Credit Union in 1955. In March 1984, Employees was deleted and our name changed to HEW Federal Credit Union.
Membership eligibility was initially limited to employees of the Social Security Board in Washington, D.C. and their immediate families. Numerous government reorganizations and subsequent amendments to HEWFCU’s charter over the years have brought the Credit Union to its current position serving the employees of the Departments of Health and Human Services (formerly HEW), Department of Education and employees of other agencies and their families. HEWFCU also serves people and in many underserved areas of the Washington metro area.
The growth of HEWFCU has been notable. It's interesting to note that it took 36 years for the Credit Union to reach its first $10 million in assets and a membership of 12,000. Yet just 14 years later (1986) when the Credit Union celebrated its 50th birthday, assets had jumped to $39 million reflecting an increase of nearly 300% with membership at 26,000.
In 2001, HEWFCU surpassed the $100 million mark in assets. The Credit Union presently operates out of 5 offices:
- Main Office - Washington, D.C.
- Philadelphia Public Ledger Branch
- OHA Skyline Branch - VA
- Silver Hill Branch - MD
The Executive Offices, located in Alexandria, VA, house the accounting, credit card, lending and marketing departments of HEWFCU.
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