Mission Statement
"The St. Thomas Federal Credit Union is a member-owned and operated non-profit organization. Our mission is to provide financial and related services of a superior quality for the benefit of the members, with our main concern being their financial and personal well- being; to maintain the philosophy of the members helping members by mobilizing their resources; and to strive to remain financially sound and secure."
From Rags to Riches
The St. Thomas Federal Credit Union was chartered on July 17, 1952, under Public Law 467,73d Congress 1st session.
The Credit Union was originally chartered as a Community Credit Union, but in the early 1960's, it experienced a very high delinquency status, and was converted to a Selected Group Charter.
In 1963, Allen A. Canton joined the Credit Union, and in 1965 became the President. It was under his leadership that the Credit Union was changed to a Selected Group Charter. He served as President for 45+ years.
During the difficult years of growth, the Credit Union was faced with a major disaster and setback. In June of 1973, the offices located in Drakes Passage was destroyed by fire. It took long hours, days, weeks and months to reconstruct the records of the Credit Union.
During it's development stages, the St. Thomas Federal Credit Union had many homes to include the following:
Drakes Passage
2nd Floor of Kentucky Fried Chicken (Waterfront)
Third Floor of People's Bank Building
Christian Building at Market Square
We are currently located in our own facilities at 5027 Norre Gade, currently known as the Allen A. Canton Building.
The Credit Union is owned and operated by its members. It is our members' responsibility to preserve and protect its future. We encourage our members to motivate others to envision the dreams that their ancestors had for providing for the future generations of our community.
Board of Directors
The Credit Union's Board of Directors is charged with overseeing the operations of the Credit Union and setting goals that they would like to see Management and Staff accomplish. The Board is comprised of seven volunteers that are elected by the members of the Credit Union, at the annual meeting. The Board also has the responsibility of appointing the Supervisory Committee. Our Board consists of:
- Milton E. Potter, President
- Bernice A. Turnbull, Vice President
- Clifford F. Graham, Treasurer
- Delicia Greenaway Henley, Secretary
- Ava Penn, Director
- Racquel Berry-Benjamin, Director
- Rochelle Benjamin, Director
Committees
Credit Committee
The Credit Committee is responsible for acting on loan applications, as specified in the Federal By-Laws. They also may appoint loan officers to act on their behalf.
If you are interested on serving in the Credit Committee, please contact our office.
Supervisory Committee
The Supervisory Committee is the "watchdog" of the Credit Union. It is responsible for making sure that member' funds and interests are protected, and that the Credit Union's internal control procedures are adequate. The Committee is appointed by the Board of Directors from among the members of the Credit Union. It conducts an annual audit and has a continuing responsibility to ensure that the Credit Union's financial records and operations are in order.
If you are interested in serving on the Supervisory Committee, please contact our office.