St. Mary’s & Affiliates Credit Union was incorporated as St. Mary’s Employees Credit Union in late 1959 and first opened its doors for business in early 1960. The office was located inside St. Mary’s Hospital and was open one hour per week. The Credit Union served the hospital employees and their immediate family members and had 104 members by year-end. After about 10 years of slow growth, membership and assets started to grow significantly in the ’70s. Up to this time, the Credit Union only offered savings accounts and loans.
During the 1980s many new services were added, including checking accounts, traveler’s checks, ATM cards, and second mortgage loans. With St. Clare Hospital employees and Stoughton Hospital employees joining our membership in 1978 and 1987 respectively, the Credit Union grew from $650,000 in assets in 1980 to $5,000,000 by 1990.
The ’90s were very progressive years. Technological enhancements allowed us to offer improved services and conveniences to our members. Members, assets, and staff increased. New employee groups affiliated with St. Mary’s Hospital Medical Center were added to our membership, which prompted us to change our name to St. Mary’s & Affiliates Credit Union to better reflect the diversity of our membership.
Today we continue to enhance our products, services, and delivery systems. Our office continues to be located in St. Mary’s Hospital, with over $33,000,000 in assets and 4,100 wonderful members. It is our pleasure to serve them. And we thank each and every one for trusting us with the betterment of their financial health.
