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History

Affinity’s History

Celebrating over 75 Years of service.

This credit union was chartered on December 13, 1935, the year after the Federal Credit Union Act was passed and signed into law by President Roosevelt. It was formed as the W. E. Headquarters Federal Credit Union to provide cooperative credit and to serve employee-member needs of Western Electric Company.

In 1974, the membership base of the credit union was extended to include AT&T employees and the credit union changed its name to GHQ Federal Credit Union (General Headquarters).

In 1984, with assets of $93.7 Million, headquarters were moved across the river from New York City to New Providence, New Jersey, and GHQ became the second largest credit union in the state of New Jersey.

At the close of 1986, the credit union changed its name from GHQ to AT&T Employees Federal Credit Union (AT&T EFCU) to more accurately reflect the current membership.

In 1995, the credit union's 60th anniversary became a significant turning point. The Board of Directors named John Fenton as the new President & CEO, charged to be a catalyst for change. Although serving a single sponsor for most of these sixty years, the announcement that AT&T would be split into three separate companies encouraged the credit union to adopt a new name and Affinity Federal Credit Union was chosen. During this time period, in 1998, the legislature passed HR1151, which allowed single sponsor credit unions to expand their service to companies or organizations with a common bond. This allowed the credit union to further diversify its membership.

Today, Affinity is a member-owned, not-for-profit, full-service financial institution offering superior financial services. With 23 branches throughout New Jersey, New York and Connecticut and 5,000 shared branches across the country, Affinity is the largest credit union headquartered in Basking Ridge, New Jersey serving more than 140,000 members.