Blog Post

Many credit unions start as employee-based member cooperatives. Back in the day, workers at a company would pool a few dollars to accomplish what the big banks in their area couldn’t. Waves of US credit unions came into being that way before and immediately after World War II.

Founded in 1954, First Capital Federal Credit Union is one of those institutions. But First Capital is interesting not just for how it started but because it’s still around to tell its story. At 70 years old, First Capital thrives as an employee-based cooperative representing some 750 businesses in the York County area of Pennsylvania.

The team must be doing something right.

Senior Vice President of Marketing Tara Houser Minetos told us First Capital started as the S. Morgan Smith Credit Union. S. Morgan Smith was a turbine manufacturer based in York that another manufacturer acquired a few years after the credit union formed.

The cooperative grew over the years partly by absorbing smaller institutions, many with similar origins in manufacturing industries. It received its current name in 1986 and a federal charter in 1993.

But growth happened for other reasons, too. Now more than 20,000 members strong and still representing businesses mainly in York County, First Capital is a credit union continually reinventing itself. It does that with credit cards that meet member needs across the financial spectrum, credit-building loans, competitive checking products, a solid financial education presence in county schools, and robust community giving.

The team prides itself on meeting members at all stages of their financial journey, ensuring people from all walks of life have the products and skills to move forward financially.

“We figure there’s plenty of people here in our county,” Houser Minetos said. “We help our members keep their money here in York, and we do that by supporting the people in our community.”

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