How Did TelComm Get Started?
TelComm Credit Union was originally chartered under the name of Springfield Telephone Employees Credit Union in June, 1940. Harry Duewel, a long-time Southwestern Bell employee was instrumental in organizing the credit union—as he quickly saw the inherent value in providing on-site financial services to his fellow telephone employees (and families). As a result, TelComm membership was offered by Southwestern Bell to its employees as a financial benefit—to exemplify the credit union philosophy of “people helping people”.
Over the years, a few credit unions have joined the TelComm CU family, including Syntex (Hoffman-Taft Employees), Springday (Dayco Employees) and the News-Leader (Newspaper Employees). In July 2018, Springfield Catholic Credit Union merged into TelComm Credit Union. This merger allowed TelComm CU to expand our Field of Membership to include the following in addition to our previous counties: members of a Catholic Church or immediate family members of a member of a Catholic Church and/or their organizations in the Diocese of Springfield/Cape Girardeau Pastoral Regions 1, 2, 3, 4 and 5. These regions include the counties of: Barton, Jasper, Newton, McDonald, Cedar, Dade, Lawrence, Barry, Polk, Greene, Christian, Stone, Dallas, Webster, Taney, Laclede, Wright, Douglas, Ozark, Howell, Oregon, Shannon and a portion of Texas County.
Today, TelComm serves over 20,000 credit union member-owners, including the employees of 125 companies (Select Employee Groups) located in Springfield and the surrounding area – in addition to the many members throughout the United States and abroad.
Our assets are $230 million, and we currently have 6 conveniently located full-service TelComm offices (four branches in Springfield, one in Nixa and one in Republic) to better serve our membership’s financial needs. TelComm Credit Union membership is also open to anyone that lives or works in Greene, Christian, Lawrence, Webster and Polk counties – and their family members. So, tell your friends, neighbors, co-workers, immediate family members, etc., that they are also eligible to share in the many benefits TelComm Credit Union membership provides.
As a member owned cooperative, this credit union is dedicated to providing high quality financial services to the members, remaining responsive to member needs and goals, and pursuing the philosophy of “People Helping People” within the constraints of sound business practices.
The Credit Union Difference
You’re not a customer… You’re a Member
There are nearly 6,500 member-owned cooperative financial institutions, known as credit unions, in the United States. Their roots go back to the mid-nineteenth century when the first credit union was established in Europe. A credit union is usually formed around common bonds, generally places of employment or geographical location. The credit union’s main purpose is to give member-owners a place to save and borrow. Members put their money into a variety of savings and investment accounts. This money is then loaned to members who pay interest.
After operating expenses and reserve requirements are met, the remaining loan income is returned to the members as dividends and other financial services. Member-owned credit unions are not-for-profit; they exist only to serve their membership. As a result, credit unions are able to pay high dividends on savings and charge low interest rates on loans. The Board of Directors, responsible for running the credit union, are volunteer rather than paid positions and elected by and from the membership.
Some of the communities eligible for TelComm Credit Union Membership include but are not limited to:
Akers, Aurora, Ava, Bolivar, Branson, Buffalo, Bunker, Butterfield, Cabool, Carthage, Cassville, Conway, El Dorado Springs, Eminence, Forsyth, Gainesville, Greenfield, Houston, Humansville, Joplin, Kimberling City, Lamar, Lebanon, Licking, Marshfield, Northview, Monett, Mount Vernon, Mountain Grove, Mountain View, Neosho, Nixa, Noel, Ozark, Pierce City, Pulaskifield, Republic, Rogersville, Salem, Sarcoxie, Seneca, Shell Knob, Seymour, Springfield, Strafford, Stockton, Thayer, Theodosia, Webb City, West Plains, White Church, Willard