According to their website; “It all started on March 7, 1935. Twelve federal government workers pooled their money to form the National Federation of Federal Employees Local No. 28, one of the first credit unions in San Antonio. Members received thirty-seven loans that year leaving the credit union with a $42.84 profit. By the time the first annual meeting rolled around in 1936, membership had grown to 98, including the first woman to join the credit union. Credit union operations struggled during World War II. The majority of them were unable to pay their depositors a dividend. Local No. 28 was proud to be the exception, paying members a 3 percent annual dividend throughout the war years. By 1949, membership expanded to include federal workers in San Antonio who were not members of Local No. 28, and the credit union officially changed its name to Government Employees Credit Union (GECU) on Feb. 7 to reflect this change. By 1962, membership had increased to 4,500 thanks to our expanding member fields to include the military. 1963 was the year GECU moved into its first owned building and replaced a hard copy posting machine with the credit union’s first computer. By the end of the decade, GECU had become the 12th largest financial institution in San Antonio with $24 million in assets. After further expansion of membership, this time to include retired civil service personnel and employees of the Bexar County Hospital District, GECU became the largest credit union in Texas and passed the $100 million milestone in 1974. The 1970s was a decade of phenomenal growth for the credit union as it grew with the times. In fact, it was the first credit union in San Antonio to install an Automated Teller Machine (ATM) in 1975 and continued to innovate and introduce new products and services like draft accounts and direct deposit. Although the 1980s brought tough economic times to the country, like depression in the oil business and a collapse in real estate, GECU kept its doors open and continued to offer quality products and services to its members. In 1987, GECU officially changed its name to San Antonio Credit Union (SACU) to reflect the diverse member base. After being federally chartered in 1989, the name was slightly altered to San Antonio Federal Credit Union — the name we continue to use. Strong member relationships are what have made SACU the success it is today. In realizing this, the board of directors, management and staff have focused on strengthening these ties even more. Today, the members of SACU are part of a credit union with more than $2 billion in assets, benefiting from unbeatable rates and outstanding services. We know we are only as strong as our members. We believe in strength in numbers.” As mentioned, this credit union has increasingly grown over the last few decades. A lot of this growth is attributed to SECU offering competitive lending options for cars, trucks, RV’s, boats, motorcycles, and other real estate assets. With this growth there are also resulting credit union repossessions at SECU that are remarketed back to consumers.
For Texas car buyers interested in low priced creditunion repo’s they are listed for sale on the (SACU) San Antonio Credit Union Repo list.
Buyers are usually surprised at how simple the purchase process can be from a credit union. SECU is an expert in lending, but you won’t need to worry about paying commissions of dealer fees when you buy a repo directly from the credit union. If you get serious about making a purchase from San Antonio Union don’t delay in contacting a representative as soon as you can. Credit union repossessions are priced to sell fast. Make sure you take the time to inspect the repo before you submit offers. Feel free to get an expert opinion if you don’t know what to look for prior to bidding.