Georgia Federal Credit Union

In 1934, the Federal Credit Union Act became law and allowed credit unions to be organized anywhere in the United States under either state or federal law. The Federal Credit Union Act also established the Bureau of Federal Credit Unions to oversee federal credit unions. In Georgia, the foundation of the state's first federal credit union was led by Vernon Carne on 1958, together with six other founding members namely L. Flaum, L. Hodges, W. Floyd, J. Schill, E. Clay and L. Perkerson. They were all school teachers of the DeKalb County school , and the union was initially named as the DeKalb County Teachers Federal Credit Union, after being duly recognized by the National Credit Union Administration on April 1958.

Today, there are more than 80,000 members being benefited by the financial services and credit programs of the Georgia Federal Credit Union. Membership of course is limited to citizens of Georgia who are working for one of the union's eligible group companies, studying or working in the University of Georgia, members of the Archdiocese of Atlanta, and the immediate family members of the union's members. To apply for membership, applicants must open an account with an initial deposit of at least 30 dollars, 5 dollars from which is membership fee for a lifetime. Member deposits of the union are insured up to 100,000 dollars by the National Credit Union Share Insurance Fund (NCUSIF) and backed by the “full faith” of the U.S. Government.