A Letter From Our CEO
The approach is different but the need is the same.
50 years ago a group of visionary leaders on the campus of Purdue University saw the need for a trusted financial partner for their staff members. At the time, local financial institutions were unable to fulfill this need which became even more apparent over time as Purdue Federal Credit Union grew from assets of $30,000 in 1969 to $1.2 billion today. In the first year, 437 members were served by one part-time employee and today Purdue Federal has more than 79,000 members worldwide served by over 250 dedicated employees. I doubt that you will find another local financial institution which has experienced this much organic growth in the past 50 years.
Today, your credit union is still focused on the needs of you—our member and on being your trusted financial partner. Trust means so much more today than it did in 1969. Data protection wasn’t much of an issue in 1969 as account cards were stored in a simple cigar box, while today our members expect us to protect their personal financial information with the same focus that we protect their cash and valuables in our vaults.
Over the years, our members’ needs have evolved and our product offerings and staff expertise have evolved to meet those needs. The original intent was to offer simple loan and deposit products but our members, who own Purdue Federal Credit Union, asked us for more. Today we have a full range of financial products, services and access points for retail members and small business members. We will continue to provide competitive pricing and strive to offer our members the most rewarding relationship as we continually listen to their needs.
A “trusted partner” was needed in 1969 and we believe that same “trusted partner” is even more important in 2019. Thank you to those visionaries who saw this need in 1969 and for all the members, staff and volunteers who have helped create one of the strongest credit unions in the country. We will continue to embrace this vision and look forward to growing and serving our membership for the next 50 years.