Marriott Employees Federal Credit Union (Company)

In 1953, J. W. Marriott, Sr. had a vision that all Hot Shoppes employees would have access to low cost banking services. That year he helped found Hot Shoppes Employees’ Federal Credit Union and served on our original board. The reason to establish a credit union was clear. Credit unions offer distinctive advantages compared to other financial institutions—they are member focused—not-for-profit, financial cooperatives, owned by members and governed by volunteers elected by the membership. Unlike most banks, credit unions focus on individuals, not larger businesses. They are able to offer better value than banks by putting the credit union’s profits back into providing service to members, not by providing capital gains to shareholders. MEFCU offers many of the same services as banks, however, we also offer services tailored for our sponsors' associates.  MEFCU has members spread out all over the country who work odd hours and different shifts. Keeping them in control of their money with remote delivery options was—and is crucial. MEFCU started offering remote services first through MET telephone banking and then through ATMs in the 1990’s.