Truliant Federal Credit Union is a

nonprofit A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization, or simply a nonprofit, is a non-governmental (private) legal entity organized and operated for a collective, public, or so ...

financial institution A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial ins ...

based in

Winston-Salem, North Carolina Winston-Salem is a city in Forsyth County, North Carolina, United States, and its county seat. At the 2020 United States census, 2020 census, the population was 249,545, making it the List of municipalities in North Carolina, fifth-most populous ...

. Chartered in 1952, the credit union provides financial guidance and services to members in

North Carolina North Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, South Carolina to the south, Georgia (U.S. stat ...

South Carolina South Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders North Carolina to the north and northeast, the Atlantic Ocean to the southeast, and Georgia (U.S. state), Georg ...

and

Virginia Virginia, officially the Commonwealth of Virginia, is a U.S. state, state in the Southeastern United States, Southeastern and Mid-Atlantic (United States), Mid-Atlantic regions of the United States between the East Coast of the United States ...

. As of December 2024, Truliant has 340,656 members and $5.2 billion in assets.

History

In 1952, Truliant Federal Credit Union was chartered as the Radio Shops Credit Union to serve employees of Western Electric in

Winston-Salem Winston-Salem is a city in Forsyth County, North Carolina, United States, and its county seat. At the 2020 census, the population was 249,545, making it the fifth-most populous city in North Carolina and the 91st-most populous city in the Uni ...

Greensboro Greensboro (; ) is a city in Guilford County, North Carolina, United States, and its county seat. At the 2020 census, its population was 299,035; it was estimated to be 307,381 in 2024. It is the third-most populous city in North Carolina, af ...

, and Burlington. It was renamed North Carolina Works Federal Credit Union, then

AT&T AT&T Inc., an abbreviation for its predecessor's former name, the American Telephone and Telegraph Company, is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the w ...

Family Federal Credit Union in 1983 with the goal of servicing employees of the

telecommunications Telecommunication, often used in its plural form or abbreviated as telecom, is the transmission of information over a distance using electronic means, typically through cables, radio waves, or other communication technologies. These means of ...

company. AT&T Family Federal Credit Union expanded its services beginning in 1987 to include employee groups at

Krispy Kreme Krispy Kreme, Inc. (previously Krispy Kreme Doughnuts, Inc.) is an American multinational doughnut company and coffeehouse chain. Krispy Kreme was founded by Vernon Rudolph (1915–1973), who bought a yeast-raised recipe from a New Orleans ch ...

Polo Ralph Lauren Ralph Lauren Corporation is an American public company, publicly traded fashion and lifestyle brand founded in 1967 by Ralph Lauren in New York City. The company markets products in apparel, home, accessories, and fragrances, and is most known ...

and other companies. The

American Bankers Association The American Bankers Association (ABA) is an American trade association for the U.S. banking industry, founded in 1875. They lobby for banks of all sizes and bank charters, including community banks, regional and money center banks, Federal s ...

and five commercial banks sued AT&T Family Federal Credit Union in 1990 for expanding its membership to 150 employee groups nationwide, claiming the expansion violated the 1934

Federal Credit Union Act The Federal Credit Union Act is an Act of Congress enacted in 1934. The purpose of the law was to make credit available and promote thrift through a national system of nonprofit, cooperative credit unions. This Act established the federal Credit ...

, which states members of a credit union must have a “common bond.” The U.S. Court of Appeals agreed, ruling against AT&T Family Credit Union in October 1996. The

National Credit Union Administration The National Credit Union Administration (NCUA) is an American government-backed insurer of Credit unions in the United States, credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. deposi ...

appealed the ruling; it then went to the Supreme Court, which voted 5 to 4 against AT&T Family Credit Union and other regional credit unions, saying it violated the 1934 law. But President

Bill Clinton William Jefferson Clinton (né Blythe III; born August 19, 1946) is an American politician and lawyer who was the 42nd president of the United States from 1993 to 2001. A member of the Democratic Party (United States), Democratic Party, ...

signed a law in 1998 allowing AT&T Family Credit Union and all other credit unions to provide service to multiple groups. In 1999, the credit union changed its name to Truliant. Truliant merged with Victory Masonic Credit Union, a historically African-American credit union in North Carolina, in 2004. Todd Hall was named president and CEO of Truliant in January 2020.

References

External links

* {{Coord missing, North Carolina Credit unions based in North Carolina Banks established in 1952 Companies based in Winston-Salem, North Carolina 1952 establishments in North Carolina