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UP Arkansas FCU Celebrates 85 Years of Serving Members
Tuesday, April 10, 2018 7:00 AM

In 2018, UP Arkansas Federal Credit Union, which likes to go by UP FCU, is celebrating its 85th anniversary of serving credit unions.

It all began when a small group of railroaders got together with the idea of starting a financial cooperative. Their idea of a credit union would be to help the common rank-and-file worker with financial management that would help them recover from the destruction of the flood of 1927, the devastation of the stock market crash in 1929, and the ensuing depression. The Arkansas Railroad Commission Securities Department approved the credit union’s charter request and North Little Rock Missouri Pacific Credit Union was born to serve the local railroad employees.

During those early years, the credit union's assets were kept in a cigar box that the credit union representative carried from shop to shop to handle credit union business. Very few records can be found of the early years, but by 1960, credit union membership was at 695. In June of 1972, assets reached $1 million for the first time.

In December of 1982, MoPac Railroad merged with Union Pacific and Western Pacific to become Union Pacific Corporation, but it would not be until 1995 when the credit union would update their name to match their sponsor, and become Union Pacific of Arkansas FCU. In the meantime, usury laws in the state of Arkansas kept credit unions tied to interest rates that were not competitive in the financial market, so in September 1991, the credit union became federally chartered. 

Today, UP FCU's field of membership is open to the state of Arkansas, and in an effort to pay homage to our past, yet not seem to be a closed membership, the credit union changed its name to UP Arkansas FCU. They currently have 3,600 members and assets nearing $28 million.

"I recently celebrated 28 years with the credit union and have seen many, many changes," said UP FCU President/CEO Linda Stanton. "I took the position of CEO in 2005, after having worked my way up from frontline teller through the ranks. We have grown nearly $15 million since that time, and we currently offer a full range of financial services to include services and loans of every type, along with 24/7 access."  

The credit union held its annual meeting in Sherwood, Ark., with approximately 150 members and guests attending. The meeting was catered with catfish, chicken strips, and all the fixings, and they gave away $850 in cash prizes.

"My credit union has changed significantly in the 28 years since I started working here, but we are constantly evolving in an effort to provide the loans and services our members demand," said Stanton. "Our goal is to continue to be here UP-lifting our community with exceptional financial services for the next 85 years and beyond!"   

Cornerstone Credit Union League wishes UP FCU a happy anniversary and sends best wishes and hopes for another 85 years—and beyond!

To learn more about UP Arkansas FCU, please visit upfcu.org.