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About CECU

Since 1955, Conservation Employees’ Credit Union (CECU) has existed as a financial institution owned by those people who save, borrow and invest together as credit union members. As the credit union offers excellent returns on savings and low loan rates, each member has the opportunity to achieve greater stability and success. This is the priority of CECU – our members and their interests will always come before profits.

What Is A Credit Union?

A credit union is a cooperative, non-profit organization comprised of people united by a common bond of interest, such as membership in a church, residence in a certain community or employment with a certain company.  The purpose of the credit union is to promote thrift and encourage responsible money management by setting up a mutual savings and loan organization.

Each member of this organization is an owner, and the money he or she contributes to credit union accounts helps to support the institution as a whole.  Credit union members enjoy savings at a rate of return and use collective monies to extend loans to qualified members at competitively low interest rates.  By saving, investing and borrowing as a group, each independent member has the opportunity to achieve greater financial stability and success.

The History of CECU

Conservation Employees’ Credit Union was created on March 4, 1955, with the cooperation of the Conservation Commission and a Certificate of Approval issued by the Secretary of State. Eighty-eight employees joined the credit union at that time, and initial deposits totaled $2,074.75. On this same day, $475 was loaned to a charter member.

Upon its creation, Herbert Hunter, a Field Representative of the Missouri Credit Union League, was named temporary chairman of the credit union. The Board elected Paul Q. Tulenko as President and Marian Walther as Treasurer.

By the first annual meeting, held on October 17, 1955, membership had jumped to 203 members, and share deposits totaled $19,841.28. The Board declared a 4% dividend on share accounts during the meeting, and this rate was approved by the membership. Thus began the CECU tradition of growth and financial stability.

Since the credit union’s inception in 1955, CECU has grown by leaps and bounds.  At the time of the annual meeting in October 1969, some 1,193 members owned $876,587 in shares!  Currently, more than 8,000 members contribute to assets greater than $110 million, loans totaling more than $80 million, and $99 million in share deposits -- a testament of the great success and prosperity of Conservation Employees’ Credit Union.

The Security Of CECU

Since 1970, credit unions have been federally insured through the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration. The United States government backs this fund with full faith and credit, just as it does the FDIC. That means that your finances are insured for up to $250,000 per depositor, with an additional coverage of up to $250,000 for other types of accounts, such as IRAs.

If you have any further questions or concerns regarding the soundness of your credit union, please contact a CECU representative or stop by our offices. You may also visit www.ncua.gov to determine your insurance coverage, or learn more about federal share insurance.

To further protect your money and the resources of the credit union, Conservation Employees’ Credit Union maintains a responsible lending policy. We extend loans only to qualified borrowers, and will not put your funds at risk with sub-prime lending. In short, your shares are safe with us.

If you would like to become part of this member-owned financial institution, call us or stop by our office today.

View the 2016 Annual Report