Downriver Community Federal Credit Union
The Downriver Community Federal Credit Union is a credit union based in the Downriver area of southeastern Michigan, with four branches, plus two standalone automated teller machines located inside CVS Pharmacy drugstores #8064 and #8122.[1] Founded in 1942 as the Great Lakes Steelworkers Federal Credit Union, since 1982, membership includes all residents of eighteen Downriver communities.[2]
History
The Great Lakes Steelworkers Federal Credit Union was organized on January 29, 1942 by a group of selected Great Lakes Steel Corporation employees. By 1943, the credit union had $3,400 in assets and 130 members, and expanded its services to include all workers of Great Lakes Steel Corporation and their families.[2]
By 1960, the Great Lakes Steelworkers Federal Credit Union had outgrown its original location at the Union Local building of Great Lakes Steel Corporation's Ecorse complex, and relocated to a newly-built standalone office at 4320 West Jefferson Avenue. Reflecting the fact that the organization's services weren't limited to Great Lakes Steel Corporation's employees and their family members, its name was changed to Downriver Community Federal Credit Union on February 26, 1982.[2]
The credit union opened its second office at 18707 West Road in Woodhaven in 2003. On February 10, 2004, with assets of $106,900,000, DCFCU merged with the Detroit Marathon Employees Federal Credit Union, which gave DCFCU a branch at 1262 Dix Highway in Lincoln Park.[3][2] Another merger took place in 2008, with DCFCU acquiring Wyandotte Community Federal Credit Union and its office at 4500 Biddle Avenue in Wyandotte.[2]
In 2015, DCFCU had $142,000,000 in assets and 16,000 members.[2] After beginning construction in 2019,[4][5] DCFCU relocated its headquarters and its Wyandotte office to a new building at 15261 Trenton Road in Southgate on June 3, 2020. The Southgate building occupies a Southgate Shopping Center parcel that was previously the site of a Service Merchandise catalog showroom.
References
- ↑ Locations and Hours, Downriver Community Federal Credit Union, downrivercu.com.
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 About Downriver Community Federal Credit Union, Downriver Community Federal Credit Union, downrivercu.com.
- ↑ "Michigan credit-union mergers", Crain's Detroit Business, September 12, 2005.
- ↑ Maloney, Colin. "Downriver Community Federal Credit Union to build its next location in Southgate", The News-Herald, January 30, 2019.
- ↑ Maloney, Colin. "Downriver Community Federal Credit Union breaks ground on new HQ in Southgate", The News-Herald, June 17, 2019.