It began with just three San Francisco teachers. The books and records were kept in two apple boxes that traveled in the Treasurer’s car trunk. The first office hours were two days a week after school. Teachers joined, made deposits that were loaned to other teachers, and we grew from there with personal service and by building trust for over five decades.
During hard times, we stood up for teachers. When the 1979 strike started, we provided strike loans to AFT members: $500 available to any striking member. No questions asked. We even drove to the rallies with loan documents and checks. That’s how we roll.
With teacher support, we continued growth. And, just so you know, we replaced those two apple boxes with digitized records and secure 24/7 online banking services.
We’re not like big banks paying shareholders profits from your money. Instead, since we’re owned by you — our members — we keep our rates lower than banks. Not for profit. Just for you.