Company Profile
Sikorsky Credit Union
Company Overview
Sikorsky Credit Union is an established, non profit, financial institution dedicated to serving our members and our communities for almost 65 years. We hope to see you at our CU soon! Our credit union is open to any one who lives, works, volunteers or worships in Fairfield, New Haven or Hartford counties.
Company History
Sikorsky Credit Union is a cooperative, owned and operated by its members. This is what distinguishes the Credit Union from other financial institutions. Members put their money into a variety of savings, checking and loan accounts, and that money, in turn, is lent to members. After operating expenses and reserve requirements are met, loan income is returned to all members in the form of dividends and comprehensive financial services.
In 1948 the need for a credit union to serve the Sikorsky division of United Aircraft was recognized and seven individuals in management obtained a federal charter for the credit union. On August 6, 1948, a charter was granted to these individuals. The credit union was called Sikorsky Aircraft Employees Federal Credit Union. It started out with seven members and $35 in assets. By the end of 1948, SAEFCU had 614 members and assets of $27,576 with loans to members of $19,960. In 1973, the credit union's name was shortened to Sikorsky Federal Credit Union. As SFCU's membership grew, so did the variety of products and services offered.
At the end of 2000, with over 85% approval by our voting membership, the credit union converted to a state charter with a community field of membership. We are now operating under the name of Sikorsky Credit Union.
Today, Sikorsky Credit Union is one of the largest credit unions in Connecticut with over 56,000 members and over $650 million in assets. Our credit union has over seven offices in Connecticut and one in Florida. Sikorsky Credit Union is a state chartered credit union, and is insured by the National Credit Union Administration, an agency of the U.S. Government. The NCUA insures each member's IRA account and share account to $250,000.