Our Story

Formation of the Credit Union 

In the 1950s and 60s, Purdue University employees recognized a gap in the financial landscape: traditional banks prioritized large-scale personal and commercial finances, leaving those in need of smaller loans without options. Driven by a passion for fair and accessible financial services, a group of Purdue employees embarked on a mission to establish a Credit Union that catered to their colleagues' unique needs. 

Forming a Credit Union took many steps, and with those steps came disappointments. But those volunteers were determined to create a place where they, their families and fellow employees could save and borrow money safely, confidentially and at a fair interest rate. Their unwavering determination led to the founding of the Purdue University Employees Federal Credit Union in February 1969. As they left the founding meeting in Room 311 of the Memorial Center (now Stewart Center), they had no guarantees of job security. Yet, they bravely risked their livelihoods to make the Credit Union a reality, forever changing the financial future for their community.

The Early Years of the Credit Union

The first Credit Union location began modestly in a closet, with financial records stored in a blue cigar box by Dr. Bledsoe, Board Chairman at the time. The unwavering dedication of the volunteers, who invested their time and energy into this vision despite numerous obstacles, was crucial in making a significant impact. Initially, the Credit Union offered only a simple savings account, but their growth proved unstoppable. 

Every step of the journey was shaped by the contributions of selfless volunteers. Despite facing initial acceptance challenges, the Credit Union reached significant milestones, such as building multiple locations, winning the “Thrift Honor Award” for several consecutive years, and achieving the $100 million asset mark in 1985.

Over the years, the institution underwent several name changes, ultimately becoming Purdue Federal Credit Union in 2010, shortly after acquiring Members United Federal Credit Union. This new name truly reflects our membership base, which includes students, faculty, staff, and the communities surrounding Purdue University and its regional campuses.

Purdue Federal Credit Union Now

Headquartered in West Lafayette, Ind., Purdue Federal is a member-owned financial cooperative with more than 100,000 members worldwide and assets nearly $1.9 billion. Its mission is to earn the trust of its members and become their financial partner for life. Its staff is driven by superior member service and dedication to the Greater Lafayette, Crown Point and La Porte communities.

Through its 10 full-service branches, three satellite branches, and digital banking services, Purdue Federal offers members a full menu of financial products. These include locally serviced mortgages, home equity loans, vehicle loans, credit cards and business loans. Also featured are checking, savings, Money Market and other deposit accounts, as well as digital services that allow members to pay bills, transfer funds, access statements and generally manage money whenever it's convenient for them.

In addition, Purdue Federal is committed to building stronger communities. Every employee receives eight hours of paid time off to volunteer at the local organization of their choice. The credit union provides both volunteer and monetary resources to organizations that assist the needy, support education and the arts, and provide health and social services.

Today, Purdue Federal remains strong because it has stayed true to its original purpose—people helping people.