A History of Securityplus Federal Credit Union

 

Securityplus Federal Credit Union was established on May 3, 1938 (as the SSA Baltimore Federal Credit Union). The original membership consisted of the Social Security Board.

 

Securityplus FCU is a federally chartered credit union. Our common bond, as originally established, was federal civilian employees.

 

In the late 1970s, a significant change occurred within the Social Security Administration. The Health Care Financing Administration was formed. This provided Securityplus FCU with the opportunity to service another agency of the federal government, and in 1995, resulted in the opening of our fifth service facility.

 

Since 1938, Securityplus FCU has grown considerably. Over the years, we have added many select employee groups to our field of membership, expanded our range of products and services, and added a number of automated account access systems.

 

In 1991, Securityplus FCU completed its first ever merger by combining with the Greater Baltimore Merchants Employees Credit Union*. This provided the Greater Baltimore Merchants Employees Credit Union members with products and services that were not available by GBMECU. Additionally, the merger provided us with our first service location outside of a government building.

 

The GBMECU office was a stepping-stone to our goal of a full branch outside of a government building. In May 1994, that goal became a reality with the opening of the Dogwood Branch. We were then able to serve our select employee groups, family members, and retiree members with the same high level of convenience that our government employee members enjoyed.

 

Since that time, we have opened a facility on Reisterstown Road in Reisterstown, and we have opened a number of service offices in the underserved areas of Baltimore City.

 

In January 2007, our underserved area charter was expanded to include the entire City of Baltimore.

 

*Hochschild-Kohn Department Store was granted the first credit union charter in the state of Maryland and the Hochschild-Kohn Credit Union eventually became the Greater Baltimore Merchants Employees Credit Union.