Ten San Luis Obispo educators gathered in 1942 to discuss forming a credit union to provide a way for people of ordinary means to borrow at reasonable interest rates under honest and fair conditions.
Seventy-five years later, SESLOC Federal Credit Union has become a fixture of the community, offering banking services to everyone in San Luis Obispo and Northern Santa Barbara counties.
With $788 million in assets, SESLOC serves more than 48,000 members through five area branches, including a new one in Santa Maria.
To honor its diamond anniversary, SESLOC hopes to connect with long-time members, hearing their stories of how SESLOC has been part of their lives, be it through checking accounts, first cars, homes, small businesses or other ways.
The credit union will hold several events over the next eight months, including speaking engagements and member-appreciation events.
The events will honor SESLOC’s early days, which began with the issuance of a federal charter on Dec. 15, 1942. Charles Teach, an appropriately named school superintendent, called the first official meeting of the credit union on Jan. 8, 1943.
Through the years, the credit union expanded, offering services to all area residents, helping them get ahead in their financial lives.
That progress will be the theme of SESLOC’s 2017 campaign, Go Ahead, launching over the summer with video, radio and print marketing elements.
As a cooperative financial institution, SESLOC returns profits to its members, not stockholders, in the form of lower loan rates, higher savings rates and lower-cost services.
Seventy-five years after SESLOC formed, its commitment to education continues.
SESLOC has contributed more than $43,000 through its monthly education grant program to area K-12 teachers for special classroom projects since the inception of the program in 2013.
SESLOC Federal Credit Union has branches in San Luis Obispo, Paso Robles, Arroyo Grande, Atascadero and Santa Maria. For more information on SESLOC, visit www.sesloc.org.
— Katie Ferber for SESLOC Federal Credit Union.