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History of Credit Unions
Credit Unions, as non-profit cooperatives are unique in the financial world. They exist solely to meet the financial needs of their members. They are owned and directed by their members and are dedicated to the credit union motto:

Not for profit,
         not for charity,
                  but for service.

Credit Unions, as we know them today, have their origins in Germany, where the poor farmers formed credit societies in 1840. After feudalism was gone, farmers were allowed to own their land. Unfortunately they were financially unable to purchase land or the equipment necessary to operate the farms. When the “banks” at that time would not lend to people of lesser means, this forced them to go to “money lenders” and borrow at exorbitant rates. The credit societies gave these people a place to borrow money at reasonable rates. As their popularity increased, they became known as “people’s banks”.

Welcome to the Florida Aircraft Federal Credit Union Web Site. We hope you find this site informative and helpful in assisting you with any and all of your financial service needs.

Florida Aircraft Federal Credit Union is a not-for-profit full service financial institution owned and operated by its members. We have been providing quality service and convenience to our membership since 1958. While consumers today demand more from a financial institution than ever before, we at Florida Aircraft Federal Credit Union have exceeded those standards by blending technology, automation and personalized attention into our products and services. Please browse through our Web Site to learn more about our many services and membership.

The mission of this Credit Union is to strive for the enhancement and financial well being of our members by providing a variety of quality products and services. We endeavor to exceed members’ expectations in meeting financial needs…

F.A.F.C.U. Profile
Florida Aircraft Federal Credit Union received a Federal charter in 1958 to serve the financial needs of the employees and immediate family members of Pratt & Whitney Aircraft (a division of United Technologies Corporation). The philosophy of the “Founding Directors” was to promote thrift and provide loans at reasonable and competitive rates. As a not-for-profit financial institution, the Credit Union established a history of rewarding its membership with above average dividends on both share and share draft accounts, while treating all members equal regardless of their account balance. The Credit Union has recently opened their “field of membership” to interested groups who would like to benefit from our services. Florida Aircraft Federal Credit Union has grown in assets to over $200M by simply providing professional and friendly financial service for over 40 years.

Copyright 2000 Florida Aircraft Federal Credit Union. All rights reserved.