On July 18, 1954, Lafayette Parish Teachers Federal
Credit Union was born. It was a
federally chartered credit union begun by 8 people with sixty dollars in its
coffers. The original board was
comprised of Merritt S. Beadle, Elmo C. Authement, Ellis P. Savoy, Helen M. M.
Landell, Minnie Me Rowe, J.C. Glorioso, George M. Armstrong Jr., and Nat
Gisclaire. Armed with the philosophy of "people helping people”, the charter
members made decisions that were good not just for one, but for all. Their mission statement said it all, "To
serve as the Primary Financial Institution for our members in a friendly,
efficient, and professional manner”. The purpose of the credit union stated in
its bylaws is "to promote thrift among its members… and to create for them a
source of credit for provident or productive purposes.” The credit union Board of Directors chose to
serve a single field of membership – the employees and board members of the
Lafayette Parish school system who work in Lafayette Parish, Louisiana; and
members of their immediate families.
The credit union’s
original facility started in a small back office of the Lafayette Parish School
Board building. At this time, share accounts and small loans were the only
services offered. As it continued to
grow, it transitioned through 2 more locations until in 1996 it built its Lafayette main branch location on Guilbeau Road in Lafayette as a one story building. However, moving to a newer facility on the
south side of town sparked much interest from the field of membership and the
growth really took off. The addition of new services, such as checking
accounts, different types of loans, etc were required to keep up with the needs
of its members.
In 1999 the credit union changed its name from Lafayette Parish
Teachers Federal Credit Union to Lafayette Schools’ Federal Credit Union. Then in 2000, the credit union began serving the employees of the Acadia
Parish School System, City of Crowley and the Council on
Aging along with all their immediate families.
By 2004, a second floor
was constructed at the Lafayette main branch to accommodate credit union growth. In 2007 the Iberia Branch opened and began serving the employees of the Iberia Parish School System and their immediate families. The Carencro Branch opened in 2013.
Today Lafayette Schools Credit Union is $175 + million in assets and
over 17,500 members.