Our History

HistoryBack in 1960 a group of Elko County residents decided that the cost of borrowing money from most financial institutions was just too high.  They also felt that they should get better returns on their deposits.  And so an idea was born.  An idea that is shared by communities all across the United States.  An idea that a self-help cooperative thrift, a Credit Union, could offer lower rates on loans and higher rates on savings.

Elko Federal Credit Union opened its doors in June 1960 with a field of membership consisting of Nevada State Employees, Elko County Employees, Elko City Employees, and Employees of Cities and Towns in Elko County.

In May 1962, the credit union increased its Field of Membership to include Public School Employees and Federal Employees who worked in Elko County.

In May 1973, The Credit Union changed their Charter to a Community Credit Union which included every resident of Elko County.

In January 2006 Elko Federal Credit Union again increased their field of membership to include Eureka and Lander County Residents as well as persons who live, work, worship or attend school in, businesses and other legal entities in Elko, Eureka, and Lander Counties, Nevada, spouses of persons who died while within the field of membership of this credit union; employees of this credit union; volunteers in the community; members of their immediate families and households; and organizations of such persons.

There is a significant difference between the Elko Federal Credit Union and those other institutions.  We’re nonprofit and wholly owned by our membership.  Whatever profits that are earned are given back to the membership in the form of dividends, and low cost services.