Congressional Federal celebrates 60 years of service to its members

Congressional Federal Credit Union—the credit union that serves the U.S. House of Representatives, its employees and their family members—turns 60 on July 9. It will celebrate its anniversary with food and festivities in its Capitol Hill and Oakton, Va., branches on July 9, 16, 23 and 30.

Congressional Federal began in 1953 when eight congressional employees, with just $40 in deposits, formed the credit union that later become Congressional Federal. From those humble beginnings in the Longworth House Office Building Folding Room, Congressional Federal has grown to over $790 million in assets, five branches and 44,000 members.

“It’s incredible to think how far we’ve come over the last 60 years,” says James J. Kaelin, the credit union’s chairman. “From a single desk drawer to a modern, full-service institution, Congressional Federal offers financial services that our first members couldn’t have dreamed possible.

“Online and mobile banking, nationwide ATM networks, mortgages and home equity loans, auto loans and credit cards—these are just a few of the products and services that we’ve added since 1953,” notes Congressional Federal President Charles A. Mallon Jr. “It’s been possible through the shared vision and hard work of our members, volunteer leaders and staff.”

Congressional Federal was originally chartered as Congressional Employees Federal Credit Union; then, in 1974, it took the name Wright Patman Congressional Federal Credit Union in honor of the influential Texas congressman who chaired the House Banking Committee from 1963 to 1975. With four branches on Capitol Hill and one in Oakton, Va., today it’s known by its members as simply Congressional Federal.

The credit union also gives back to its community through financial literacy programs, community service projects and donations to Washington area charities such as the Children’s National Medical Center, the Washington Literacy Council and the Boys and Girls Club of Greater Washington.

Looking ahead, Mallon is optimistic about the future. “I have no doubt the next 60 years will bring innovations and changes that we can’t even imagine today. Thanks to our members, we have a bright future ahead of us.”