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Article: Historic Filene FCU Gets Makeover, Gives Up SEGs To Serve Half Of Boston.
- Article from:
- Credit Union Journal
- Article date:
- July 24, 2006
- Author:
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BOSTON -- Filene FCU, one of the first credit unions in the United States, was approved by NCUA last week to convert from a multiple group credit union serving employees of the various Federated Department Stores, to a community charter serving half the city of Boston.
The $24-million credit union was founded in October 1921 by William Filene, who owned the famous department store chain with his brother and credit union forefather, Edward Filene. The Filenes came to America from Germany after which, their father, also William Filene, changed the family name from "Katz" to what he thought was the English equivalent (feline), according to Edward Mann, CEO of the ...