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A Credit Union That Serves Just One Family

Monday, March 25, 2013 - 5:13 AMOur Family Social Credit Union
This is an interesting story at CBS News of a tiny credit union that serves just one family.

Some excerpts:
Our Family Social Credit Union (or OFSCU as it's called by members) was started in 1950 by the descendents of Manley and Lucy Williams, and their spouses.

[...]

For a $5 deposit, plus a 25-cent handling fee, you become a member of Our Family Social Credit Union IF you are a direct descendant of Manley and Lucy Williams, or are married to one.

Today, OFSCU has 511 members in 22 states, and assets of about a half-million dollars.

Read more

OFSCU is actually federally insured. You can learn more about it at our financial overview of OFSCU.
4
Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,664
1. Monday, March 25, 2013 - 8:54 AM
Is this a joke?  511 members and all they have in assets is half a million dollars!  We can start a giant DepositsOnline Credit Union then because I think we have single members with more than that in assets.  Not my kind of CU but interesting to know it exists at all.
2
paoli2paoli21,140 posts since
Aug 10, 2011
Rep Points: 5,078
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