User:Techase21/stanford federal credit union

Stanford Federal Credit Union
Stanford Federal Credit Union is a federally charted, member-owned and operated financial institution. It serves over 47,000. The member-elected Board of Directors, selflessly volunteer without pay to help oversee the credit union's operations. Formed by and for the Stanford community, it is an institution that prides itself on serving its members by offering an array of services including: high-yielding savings and investment accounts, checking packages, business accounts, and loans.

During its growth, it has become one of the most technologically advanced and strongest credit unions in the nation and was the first financial institution to conduct a financial transaction over the internet in November 1993.

Was the first to provide online banking services to all of its members in late 1994.

1950's

 * Five Stanford University employees found Stanford Federal Credit Union on December 17, 1959.

1960's

 * March 1960, Stanford Federal Credit Union opens for business with $261 in deposits
 * Stanford FCU grew steadily and opened an office in Encina Hall on Stanford University
 * Stanford University sponsors SFCU mailings
 * Stanford Federal Credit Union begins to offer car loans in 1964

1970's

 * Pampas Lane branch opens in 1970
 * Medical Center branch opens in the mid 70’s
 * In late 1970’s, Stanford FCU was one of the first credit unions to start offering Checking accounts and VISA credit cards

1980's

 * 1982-1984 - ATMs and automated Touch-Tone phone service, FAS-TELL are introduced to members
 * 1985 - Stanford FCU expands the Field of Membership to include; Students and Palo Alto Chamber of Commerce in 1985
 * Stanford FCU becomes more member-friendly with more reasonable fees and charges
 * 1986 - First Mortgage lending is introduced
 * 1987 - Pampas Lane branch is remodeled and corporate headquarters are moved to San Antonio Road

1990's

 * Stanford FCU experiences steady growth, and high earnings.
 * November 1993 - Stanford FCU conducts first financial transaction over the internet
 * April 1994 - the Stanford FCU website, www.sfcu.org is launched on the internet
 * May 1994 - Consumer loan application added to www.sfcu.org
 * September 1994 - Mortgage resources and web application added to www.sfcu.org
 * January 1997 - Syntex FCU merges with Stanford FCU; combined assets approach $200 million
 * April 1997 - Stanford FCU offers BillPay to members
 * 1997 (?)Tressider Branch opens on Stanford campus
 * April 1997 - Stanford FCU establishes CUSO – Cardinal Services to provide Internet banking services to credit unions

2000 to Present

 * John R. Davis becomes Stanford FCU Chief Executive Officer
 * Automated loan applications through LoanClick & MortgageBot
 * January 2002 - Account Aggregation added to CUOnline which allows members to view other financial institution accounts on www.sfcu.org
 * January 2002 – CUOnHand, now CU Mobile Banking, account information is offered through mobile phones
 * 2003 – Stanford FCU endows a Stanford University Professorship, called the Stanford Federal Credit Union Professorship in the School of Humanities and Sciences.
 * 2003 - Business Banking suite of services introduced
 * In 2004 Stanford FCU expands services to include
 * Commercial Lending
 * In 2005 Stanford FCU is the first U.S. financial institution to implement strong authentication using Passmark
 * 2006 - Stanford FCU corporate headquarters moves to 1860 Embarcadero Road
 * Health Savings Accounts are offered to membership
 * "Drive Green Auto Loan" is introduced to reward our members who support the preservation of our environment by driving hybrid or alternative fuel vehicles.
 * Stanford FCU’s “Green Philosophy” hits critical mass:
 * The Credit Union’s “Green” initiatives now include a company-wide web-based document management system, achieving a near paperless workplace.
 * Stanford FCU achieved 50% penetration in paperless eStatements for member accounts.
 * Stanford FCU reduced power requirements by 70% in its disaster site by deploying 63 “Virtualized” servers.
 * Stanford FCU achieved a 100% level in hardware, battery, and monitor recycling.
 * Stanford FCU joins the Allpoint Network of surcharge-free ATMs. Added to the CO-OP Network, Stanford FCU now offers members over 57,000 surcharge-free ATMs nationwide.

SFCU in the Community
Stanford Federal Credit Union is proud to be a contributor to the local community. Stanford FCU sponsors activities in the Palo Alto community as well as those affiliated with Stanford University. Recently, in 2004, SFCU funded an endowed professorship for Stanford University’s School of Humanities and Science. As of 2002, SFCU has hosted monthly free financial educational seminars all presented by experts in their respective fields. They are also a proud sponsor of Stanford athletics and can be seen at Stanford football and basketball games. In 2005 SFCU supported the establishment of the East Palo Alto Credit Union to help provide financial services to this underserved community. They also have a strong foundation in their contributions to the Lucile Packard Children’s Hospital, sponsoring the Art on a Cart program as well as many other programs within the hospital.

The contributions don’t stop here; they provide donations and volunteer support for multiple organizations within the arts & culture, health & human services and even within the credit union industry.