a quick history
After recognizing the need for a financial institution to serve Charlotte city employees, Herman J. Hoose founded the Charlotte City Employees Credit Union. Can you guess who joined? Charlotte city employees. In the 1970s, Charlotte City Employees Credit Union doubled in assets to nearly $6 million. In 1983, membership was expanded from Charlotte city employees to include the Charlotte transit and local housing authority, prompting a name change to Charlotte City Credit Union.
The construction of a new branch and headquarters began at 718 Central Avenue, which is still our main branch and headquarters today. To fund the building, the “Square Footer Club” was created. This program offered a high rate of return on certificates of deposit, encouraging additional memberships and deposits. This initiative kicked off our now well-known inclination toward innovation in financial product development and service delivery excellence.
Membership was again expanded to include Mercy Hospital employees and Presbyterian Hospital in 1989. Also in 1985, Charlotte City Employees Credit Union merged with Mecklenburg County Credit Union, which added Carolinas Medical Center employees, bringing total membership to nearly 8,500.
Charlotte City Credit Union became Charlotte Metro Credit Union. We became a community chartered financial institution in 2001 and received our federal charter in December of 2008.
Our request to expand its field of membership to 9 additional counties was approved. In addition to Mecklenburg, Charlotte Metro can now serve members in Union, Cabarrus, Gaston, Iredell, Rowan, and Lincoln counties in North Carolina and York, Chester, and Lancaster counties in South Carolina.
We merged with Premier Federal Credit Union, growing our organization to over 93,000 members. Premier FCU was originally established in 1963 as Cone Mills Greensboro FCU as a way for Cone Mills employees to save money and obtain loans at reasonable rates. This partnership provided us with 7 additional branch locations in Asheville, Forest City, Graham, Greensboro, Kings Mountain, and Salisbury, NC.
We unveiled our new name - Skyla Credit Union. The credit union’s new name and rebrand is a result of Premier Federal Credit Union’s (PFCU) 2021 merge into Charlotte Metro and symbolizes the organization’s mission to teach, guide, direct and educate consumers so they may live a richer, more meaningful and expansive lifestyle.
We merged with Parsons Federal Credit Union, allowing us to expand our planned technological advancements. Parsons FCU had been serving Parsons Corporation employees, its affiliates, and family since 1975, and in 2020 expanded to allow any membership through the ACC. Having two branches in Pasadena, CA and Centreville, VA, this merger expands Skyla outside of the Carolinas and makes us national!