Denali Alaskan Federal Credit Union
Encyclopedia
Denali Alaskan Federal Credit Union is a credit union
based in Alaska
, USA. The Credit Union primarily serves the communities of Anchorage, Eagle River
, Fairbanks
, Juneau, Kenai
and Wasilla. It is the third largest credit union in Alaska. Denali Alaskan Federal Credit Union has grown to add Denali Alaskan Home Loans
, Denali Alaskan Insurance
, and Denali Alaskan Investment Services to their list of services. At the end of October of 2011 Denali Alaskan Federal Credit Union began participating in Bank Transfer Day
.
, which was part of the Department of Health, Education, and Welfare, within the Social Security Administration
. The Credit Union began with eight members and $40 in assets. This credit union was the forerunner to today’s Denali Alaskan Federal Credit Union, still operating under charter number 5912. The Alaska Railroad Federal Credit Union (Charter 6244), another predecessor to Denali Alaskan, was chartered in July, 1949.
Over the years a number of credit unions were chartered, or merged with existing Alaska credit unions, to create what eventually became Denali Alaskan Federal Credit Union in 1997:
increased member account insurance from the National Credit Union Share Insurance Fund
to $250,000 (from $100,000). In May 2009, the member account insurance amount of $250,000 was extended to 2013. On September 27, 2010 the NCUA made permanent the $250,000 limit.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
based in Alaska
Alaska
Alaska is the largest state in the United States by area. It is situated in the northwest extremity of the North American continent, with Canada to the east, the Arctic Ocean to the north, and the Pacific Ocean to the west and south, with Russia further west across the Bering Strait...
, USA. The Credit Union primarily serves the communities of Anchorage, Eagle River
Eagle River
-Streams:In the United States:*Eagle River , any one of three rivers*Eagle River , a tributary of the Colorado River*Eagle River , a river flowing into Lake Superior*Eagle River , a tributary of the Wisconsin River...
, Fairbanks
Fairbanks
Fairbanks may refer to:Places in the United States*Fairbanks, Alaska, city*Fairbanks, California, unincorporated community in El Dorado County*Fairbanks, Mendocino County, California, former settlement*Fairbanks, Indiana, unincorporated community...
, Juneau, Kenai
Kenai
-Places:* Kenai, Alaska, a city in Kenai Peninsula Borough, Alaska* Kenai Peninsula, a large peninsula in south-central Alaska* Kenai River, a river on the Kenai Peninsula* Kenai Mountains, a mountain range in Alaska* Kenai Fjords National Park...
and Wasilla. It is the third largest credit union in Alaska. Denali Alaskan Federal Credit Union has grown to add Denali Alaskan Home Loans
Denali Alaskan Home Loans
Denali Alaskan Home Loans is the home-financing department of Denali Alaskan Federal Credit Union, based in Anchorage, Alaska, offering a variety of mortgage services for members of the Credit Union throughout Alaska...
, Denali Alaskan Insurance
Denali Alaskan Insurance
Denali Alaskan Insurance is an insurance agency based in Anchorage, Alaska, offering both commercial and personal lines of insurance. The company was first formed as Alaska Business Insurance in 1983, selling commercial lines of insurance to its customers...
, and Denali Alaskan Investment Services to their list of services. At the end of October of 2011 Denali Alaskan Federal Credit Union began participating in Bank Transfer Day
Bank Transfer Day
Bank Transfer Day is a consumer activism initiative calling for a voluntary switch from commercial banks to not-for-profit credit unions by November 5, 2011. As of October 15, 2011, a Facebook page devoted to the effort had drawn more than 54,900 "likes"...
.
History
The City of Anchorage Employees Federal Credit Union was chartered on December 6, 1948. Charter 5912 was issued by the Bureau of Federal Credit UnionsBureau of Federal Credit Unions
The Bureau of Federal Credit Unions was a federal agency in the United States that supervised and chartered federal credit unions from 1934 until 1970. The Bureau was created through the Federal Credit Union Act as part of the New Deal. It was self-financing and did not receive appropriations from...
, which was part of the Department of Health, Education, and Welfare, within the Social Security Administration
Social Security Administration
The United States Social Security Administration is an independent agency of the United States federal government that administers Social Security, a social insurance program consisting of retirement, disability, and survivors' benefits...
. The Credit Union began with eight members and $40 in assets. This credit union was the forerunner to today’s Denali Alaskan Federal Credit Union, still operating under charter number 5912. The Alaska Railroad Federal Credit Union (Charter 6244), another predecessor to Denali Alaskan, was chartered in July, 1949.
Over the years a number of credit unions were chartered, or merged with existing Alaska credit unions, to create what eventually became Denali Alaskan Federal Credit Union in 1997:
- The Teamsters Federal Credit Union is formed in January, 1964.
- The Anchorage Natural Gas Employees FCU merges with Alaskan Employees FCU in 1975, and the name of the Credit Union was changed to Alaska Municipal Employees FCU (AMEFCU).
- The Chugach Electric Association FCU merged with AMEFCU in 1977.
- The Western Trades FCU merges with AMEFCU in 1982; the subsequent Credit Union changes its name to Alaskan Federal Credit Union in 1984.
- The Alaska Feminist Credit Union merges its field of membership with Alaskan FCU in 1985.
- The Alaska Railroad and Teamster Federal Credit Unions merge to form Denali FCU in 1986.
- Denali and Alaskan Federal Credit Unions merge on January 1, 1997 to form Denali Alaskan Federal Credit Union. The combined assets of the credit union exceed $400 million, and service extends to more than 55,000 members in Alaska and the Lower 48.
NCUA insurance of member accounts
As of October 3, 2008, National Credit Union AdministrationNational Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
increased member account insurance from the National Credit Union Share Insurance Fund
National Credit Union Share Insurance Fund
The National Credit Union Share Insurance Fund is administered by the National Credit Union Administration for the purpose of providing deposit insurance to protect deposits of credit union members at insured institutions in the United States. It was created in 1970 shortly after the creation of...
to $250,000 (from $100,000). In May 2009, the member account insurance amount of $250,000 was extended to 2013. On September 27, 2010 the NCUA made permanent the $250,000 limit.