FORT WORTH, Texas, March 6 /PRNewswire-FirstCall/ -- This year marks the 70th anniversary of American Airlines Federal Credit Union (AA Credit Union). AA Credit Union was founded in Chicago's Midway Airport in 1936, just before the inauguration of the airline's first flight with the Douglas DC-3. In the Credit Union's first year, 642 employees joined, 547 loans were made, and assets were approximately $42,266. After 70 years, the Credit Union is 200,000 members strong with approximately $4 billion in assets. The 70th anniversary milestone will be celebrated with special promotions and giveaways throughout the year.
"We are proud of all we have accomplished, but we are equally proud of where we came from and the purpose that we serve," said John Tippets, President and CEO, AA Credit Union. "The true beauty of a financial cooperative is the ability of friends, co-workers, and families to pool their resources to help others meet their financial needs.
"When nine men gathered around a table in one of the offices of American Airlines in 1936, their goals were two-fold: to establish habits of thrift among the employees, and provide means of securing loans without excess charges to the company's employees in times of emergency. Today, despite many changes in the world around us, we will celebrate our 70th anniversary by reaffirming and continuing to fulfill the mission envisioned by the founders of AA Credit Union -- to encourage and reward savings and to provide members an option of lower-cost loans for provident purposes," Tippets said.
AA Credit Union proudly serves active, former, and retired employees of American Airlines, American Eagle, their family members, and workers in the Air Transportation Industry. With 42 branch locations from San Juan, Puerto Rico, to Honolulu, Hawaii, AA Credit Union offers a broad offering of deposit and loan products and is committed to financial education and planning. AA Credit Union assists members with IRAs, 401(k)s, insurance and mutual fund needs. In addition, AA Credit Union has a positive impact on the lives of its members and their communities through supporting of and participating in a number of charitable campaigns and outreach efforts.
To learn more about AA Credit Union, and to become a member, visit http://www.aacreditunion.org/ .
