In October 1936, several telephone company employees invested $5.00 each for one full share to organize our credit union. We were originally under the name of Northeast Louisiana Bell Employees Federal Credit Union. In 1943, the name was changed to Monroe Telco Federal Credit Union.
The credit union operated in the early years in the basement of the main telephone office at 301 Catalpa. In February 1971, the credit union purchased its first piece of property at 126 Jackson Street. When the credit union purchased this property we had a total number of 1,477 members.
The credit union operated from this location until December 1982, when we purchased property located at 700 North 2nd St in Monroe. We continued to grow and the board of directors began looking for a new location with drive thru facilities to better serve our membership. In November 1989, the credit union purchased property at 3220 Louisville Avenue in Monroe. At this time our membership had increased to 4,423.
Then the board of directors looked to the future to provide two locations to better serve our members. We purchased land at 4705 Cypress St, West Monroe in August 1996, and we built a new modern facility to better serve our members.
So as you can see, Monroe Telco has been improving services and facilities for our membership, and the board of directors are committed to serving the financial needs of our members. The credit union difference describes Monroe Telco Federal Credit Union and how we differ from other financial institutions and these differences benefit you - our member.