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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.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708
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.
paoli2paoli21,406 posts since
Aug 10, 2011
Rep Points: 6,150