MENLO SURVEY FEDERAL CREDIT UNION 345 Middlefield Road, Menlo Park, CA 94025 Member Services (includes savings accounts, VISA Check Card and more...) The credit union idea is a simple one: People should be able to pool their money and make loans to each other. It’s an idea that evolved from cooperative activities in 19th century Europe. Since that time, the idea’s guiding principles have remained the same: (1) Only people who are credit union members can borrow there; (2) Loans are made for ‘prudent and productive’ purposes; (3) A person’s desire to repay (character) is considered more important than the ability (income) to repay. Members are; after all, borrowing their own money and that of their friends. These principles still govern most of the world’s credit unions. On December 15, 1959, the following seven USGS employees (the original Board of Directors): Allan B. Griggs, Ted Sumida, Margaret Montague, Elbert Nelson, Kenneth Francis, Carlyle Peck, and Robert Smith, requested authorization for the formation of the Menlo Survey Federal Credit Union. An approval of organization certificate was issued on the 23rd of December 1959, by the Bureau of Federal Credit Unions. This year (2004) Menlo Survey Federal Credit Union has celebrated its 45th Anniversary. The Credit Union (MSFCU) is a democratically operated, non-profit financial cooperative run by and for its members. The Credit Union provides a complete range of financial services. It has been serving the employees and families of the U.S. Geological Survey and select employee groups since it was established. Menlo Survey Federal Credit Union continues to be financially sound. While the financial environment has much influence over the success of the MSFCU, so do the members who use it and the staff and management who make it operate smoothly. As the Credit Union has grown, so have the services it offers its members. |
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