In the process of trying to improve the schools for the children of Monroe County, seven (7) principals and the county teacher’s supervisor while holding one of their regular monthly Principals’ Associational meeting gave some thought to pooling their savings and thereby providing a convenient and stable source of funds for Monroe Count public employees. After discussing several types of financial institutions, the idea of creating a credit union seemed to be the most feasible for the group.
Since none of the seven (7) principals nor the supervisor had any specific information or detailed knowledge about credit unions, a committee was appointed to locate a credit union representative union movement. A representative from the Alabama Credit Union League was contacted and met with the group in October 1958. After the presentation, the eight (8) members of the Association paid $5.00 each for one share and made application for a charter.
The eight (8) individuals who became the charter members included:
- Charles H. Bell, Principal, Vredenburgh Jr. High School
- Ethel L. Bell, Supervisor, Monroe County Schools
- George H. Brown, Principal, Wainwright Jr. High School
- Caswell P. Carmichael, Principal, Rosenwald Jr. High School
- Obie J. Carmichael, Principal, Tunnel Springs Jr. High School
- Robert T. McMillian, Principal, Union High School
- Joseph F. Shields, Principal, Monroe County Training School
- Homer B. Williams, Principal, Vredenburgh Jr. High School
The organizational meeting was held on December 30, 1958 and this was the inception of the Monroe Education Employees Federal Credit Union.
The credit union was originally established for African American employees of the Board of Education. It was later opened to a few businesses and expanded to include Conecuh County. With its rapid growth the credit union later expanded to include Wilcox County and Alabama Southern Community College (Coastal Alabama Community College System). In 2010 the credit union was opened to the Public and has continued to grow, hence our slogan “Come Growth With Us.”