Our History

Congressional Federal Credit Union was established in 1953 as Congressional Employees Federal Credit Union. Our first branch looked nothing like the modern facilities our members enjoy today. In fact, we were located in the Folding Room in the basement of the Longworth Building, essentially operating out of a desk drawer. It was a humble beginning with just eight charter members and $40 on deposit.

Credit unions were not new to the United States when we first opened our doors. The idea was introduced in our country in 1908. Our membership grew steadily as more and more Congressional employees and family members chose to take advantage of benefits not available to them through a bank or savings and loan institution. Pooled savings, low interest loans, and friendly service were and still are today, the foundation of our Credit Union. 

Congressman Wright Patman

In 1976, we changed our name to Wright Patman Congressional Federal Credit Union, to honor the late Congressman Patman. Wright Patman was a champion of the credit union movement throughout his 48 years in Congress. His commitment to credit unions began in 1934 with the introduction of the bill that later became the Federal Credit Union Act. This Act provides for the chartering and supervision of federal credit unions by the federal agency that is now known as the National Credit Union Administration (NCUA), which insures member accounts through the National Credit Union Share Insurance Fund (NCUSIF). 

Over 50 Years of Timeless Service

To this day, we remain committed to the credit union tradition of People Helping People by offering convenient financial services at affordable prices. Although our one “desk drawer” has grown to five branches and the participation in a national network of shared credit union branches, and our eight members are now more than 50,000 worldwide, we resemble our beginnings in more ways than one. As a not-for-profit financial cooperative, we are still in a unique position to offer the best rates on loans and dividend-earning accounts, as well as free or low-cost services, regardless of economic factors. 

We'll continue to serve the U.S. House of Representatives as well as our corporate partners. We are well known in the credit union community and we enjoy a great reputation as a strong financial institution. As we embark on another 50 years, we will remain a reliable source for secure, convenient financial services at affordable prices.