Description
Secure First Credit Union first opened its doors in 1951 as Sloss Federal Credit Union to provide a low cost alternative financial institution for individual consumers who shared the common bond exclusive to its membership base. Until recently, involvement in organizations, associations, or employment by businesses within the credit union's field of membership was the only avenue for joining, unless you were an immediate relative of an existing member.
Despite the fact that our member groups grew more numerous and diverse over the decades, Sloss Federal Credit Union began pursuing a state charter after the Board of Directors voted to do so in December 2004. The decision was made to convert to a state charter due to slowing growth within the industries we were currently serving, as well as an effort to remain competitive in an increasingly competitive industry. The change was a necessary step in achieving the overall goal of expanding our field of membership to include the communities of Jefferson and Tuscaloosa counties in their entirety. At the Annual Meeting in March of 2005, the membership voted in favor of going ahead with the conversion.
One of the side effects of converting our charter was having to change our name. By becoming a state charter, we could no longer use "Federal" in our name. Wishing to maintain as much of our current identity as possible, the Board chose to rename the credit union in such a way as to retain our initials and the "SF" logo.
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