AFFCU, formerly known as Lackland Federal Credit Union, was founded in November 1952 by 10 airmen volunteers, who donated $5 each. In 1953, AFFCU was operating from a one-room office on Lackland Air Force Base. On March 15, 2002, Lackland FCU changed its name to AFFCU. The name change helped the credit union to better identify with its membership as well as create a vision for the future. In 2006, AFFCU joined the CO-OP Financial Services giving members access to over 30,000 ATMs worldwide surcharge-free. In the summer of 2007, AFFCU joined the Shared Branching Network. This partnership gave members access to more than 5,400 branches and kiosks located in 46 states and in Germany, Italy, Japan, South Korea and Puerto Rico. 2012 was another year of growth and change for AFFCU. On June 29, 2012, AFFCU added The Airman Heritage Foundation as a Select Employee Group. This SEG changed AFFCU from a single common bond credit union to a multiple common bond credit union and granted membership eligibility to members of the Airman Heritage Foundation. As of August 2016, AFFCU had more than $370 million in assets, and over 40,000 members worldwide. In May 2018, AFFCU merged with Local 142 Federal Credit Union, a single-office credit union that served members of several local unions. The combined institution has $408 million in assets and more than 47,000 members. This was followed with an announcement that the corporate name was being changed to "AFFCU" to reflect that the field of membership had expanded to groups outside the military community. The corporate logo was replaced with a stylized "A".
Services
AFFCU offers many products and services in common with other financial institutions, including savings accounts, checking accounts, IRA accounts, certificates, consumer loans, credit cards, mortgages and lines of credit, as well as small business services. The savings are named "Share Savings" to reflect the fact that with the member's initial savings deposit of $5.00 they acquire a share of ownership in the credit union. AFFCU offers a cash back debit card program, which pays 12 cents cash back each time a credit union member makes a $5 or more purchase with the card. One of the exclusive benefits of credit union membership is a no-cost $3,000 TruStageAccidental Death and Dismemberment insurance policy from CMFG Life Insurance Company. AFFCU members have access to 7 AFFCU branches, over 200 CO-OP Shared Branches throughout Texas, more than 5,400 branches nationwide and over 30,000 surcharge-free CO-OP Network ATMs worldwide.
