| The credit union was founded in 1935 to serve the employees
of the St. Louis San Francisco (Frisco) Railway in Texas. The charter
has been amended over the years as the sponsor company merged with
the Burlington Northern Railroad in 1981 and then the Santa Fe Railroad
in 1995. Also, several Select Employee Groups have been added to our
charter.
A credit union is a group of people who pool their savings and
loan the money back to other credit union members. It is "People
helping People", people with a common bond of where they work
or live. When you join a credit union, you become one of the owners.
You run the credit union and help set the policies by electing the
Board of Directors at the Annual Shareholders Meeting.
Your credit union is not-for-profit. That means there are no outside
stockholders who must be paid from the earnings. Any profits go
to you, the member/owner as dividends on your savings.
Mission Statement
Member Preferred Federal Credit Union was founded in 1935 to "promote
thrift and to create a source of credit without exorbitant interest
rates". That remains a primary purpose today.
This credit union is dedicated to serving its members in a friendly,
competent manner, while keeping a close eye on changes in the marketplace.
Every effort will be made to preserve this credit union for future
generations.
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