The Southern Federal Credit Union
The Southern Federal Credit
Union, like all other credit unions, is a not-for-profit financial cooperative.
Profits are returned to the members in the form of higher dividend rates
on savings, lower rates on loans, and lower, less and in some cases,
no fees on various services and products. The Credit Union is owned
by its members and governed by member-elected board of directors.
Foundation
Originally known as FAA Southern Federal Credit Union, the Credit Union
was conceived and chartered in 1963 by a small group of employees of
the Federal Aviation Administration, who were employed in the FAA's
southern region. Located at the FAA Regional Office in East Point, Georgia,
the Credit Union served only the employees of the FAA southern region
and their immediate families.
Logistics
The Operations Center of the Credit Union was relocated to Morrow, Georgia
in 1986 from the FAA Regional Office in College Park, and then again
in 1992 - this time to its current headquarters located in Fayetteville,
Georgia. Today The Southern Federal Credit Union has grown to serve
over 130 employer groups, with full-service branches located in
Newnan, Jonesboro, Fayetteville, Griffin, and Peachtree City, Georgia.
Membership Composition
Until 1985, the Credit Union served only FAA employees and members of
their immediate families. In 1985, the Credit Union's Board of Directors
approved the association of Chick-fil-A into the Credit Union's charter,
establishing a precedent that has allowed the Credit Union to grow and
to serve over 130 employer groups. The Credit Union is currently poised
to serve throughout such various companies and associations as Springs
Industries, Cooper Lighting, Gardner-Denver, City of Griffin and Spalding
County employees, National Weather Service, and the Federal Bureau of
Prisons - Southeastern Region.
Range of Services
The Southern Federal Credit Union has long established itself as a provider
of numerous low-cost services. The Credit Union's pricing structure
is exceedingly competitive, especially when contrasted against those
service offerings of other local institutions. The products/services
now available include several types of deposit accounts, a full compliment
of consumer loans, a complete line of mortgage related loan products,
ATM and Internet banking. Each branch offers
all the amenities expected of a full-service financial institution.
The Credit Union strives to provide unparalleled service to each member;
for example, branch personnel are trained to counsel with members on
fundamental budgeting issues.
For over 43 years we have
taken the necessary measures to learn the needs of our members and provide
them with the financial tools they need. Our whole purpose of existence
is dedicated to this cause. We hope our members are proud of our heritage.