History

BP Federal Credit Union was founded in 1937 with the philosophy of providing quality financial services to its members.

Today, the same holds true. We have grown a great deal over the years, but still display a long-time credit union tradition of “people helping people.”

Credit unions are unique financial organizations with roots back to the 1800’s in Germany when failing farmers sought relief from loan sharks. The farmers and similar groups banded together to pool their funds and make loans to each other. This spirit of cooperation was so effective that it moved to other parts of Europe and into North America.

Credit unions are recognized worldwide as a relief to high fees and loan rates as offered by other financial institutions. Earnings are returned to members in the form of favorable rates, new services and/or additional contributions to capital. Every member of the Credit Union owns a share and is treated equally. A volunteer Board of Directors is elected by the members to direct the overall operation.

Once you become a member, individuals in your family can join too! And once a member of BP Federal Credit Union, you can remain a member for life. Then you will know how it feels to be a part owner of a financial institution.