AgFed was founded in 1934 as the Agricultural Employees Credit Union of D.C. The Credit Union opened its doors for business in May and by the end of the month, the Credit Union boasted a membership of 20 people and assets of $59.75. The Department of Agriculture employees in Washington, D.C. bonded together to help each other save and borrow. Since then, a lot has changed. In 1934, the average annual income was $1,506, the average price of a new home was $5,972, and the average price of a new car was $630. And, gas was $0.19 a gallon. Yep, $0.19 a gallon! One thing hasn’t changed since 1934 – our dedication to serving our members. For 80 years, AgFed has been offering superior financial services with a member-oriented focus.
Today, AgFed is open to much more than Department of Agriculture employees. We have a District of Columbia charter and many local associations and businesses, which help us reach people nationwide. We have grown to $245 million in assets, over 20,000 members, with 6 AgFed branches in the local DC, MD, VA area and collaborate with CU Service Center Nationwide to bring the most convenient services to our entire membership. In addition, we are expanding through our website to offer our members all the latest electronic services of a financial institution to make banking with AgFed even easier.
The very defining values on which we were founded--service, commitment, and respect for our members--remain as strong as the day we began 80 years ago. Our focus back then was, and is today, to serve our members and our communities. We'd also like to recognize all past and present employees, board members and volunteers - we thank you for your dedication to AgFed!
