Eighty years ago this year, on August 21, 1934, San Diego Metropolitan Credit Union (SDMCU, METRO), the name by which the organization is known today, was founded, when the nation was in the heart of the economic depression. San Diego was no exception to the rule -- many employees of the City of San Diego had been laid off and those that weren't suffered a reported 15% reduction in wages. City employees were frantically looking, and hoping, for some sort of relief to their struggles.
Officers of the Municipal Employees Association united in force to form a financial cooperative -- named San Diego Municipal Employees Credit Union. In 1937, the Credit Union's bylaws were amended in order to be inclusive of all City employees. From inception, the Credit Union provided the lowcost loans and valuable savings opportunities that the members were seeking.
Throughout the ensuing decades, many groups were added to the field of membership and the Credit Union changed its name twice -- in 1981 to San Diego Municipal Credit Union and then in 1998 to San Diego Metropolitan Credit Union. The Credit Union also converted to a community charter in 1998 opening up the ability for any resident of the county to become a member.
The Credit Union thanks all of the loyal members who have made our proud history possible as we celebrate with you our 80th anniversary in 2014 and continue to serve you while adding to our legacy during the coming years.
San Diego Metropolitan Credit Union