The Credit Union Concept

Credit unions began so groups of people could save together to provide borrowing opportunities for others in the "people helping people" spirit. Members of the credit union provide the funds necessary for others to borrow. Therefore, there are no stockholders. Each member is a part owner of the credit union.

About Partners Credit Union

Partners Credit Union is a full-service financial cooperative committed to providing our members with exceptional customer service and fair rates. We believe in investing in our members and our community, and are constantly looking for ways to provide more for our members, while keeping costs down.

History

In 1958, Dr. L.R. Svoma and Forest Spangberg established the credit union, originally called Strum Credit Union, in order to provide affordable loans and low rates to the local community. In addition to a board of directors, the credit union had one employee, Carla Nymo, who worked part time out of her home and part time out of the Fenske Ford Garage in Strum. Within the first year of opening its doors, the credit union had 22 members, $645 on deposit, and $300 in outstanding loans.

The Credit Union continued to grow with the acquistion of Fall Creek Co-op Credit Union in 1988 and the Augusta Co-op Credit Union in 1990. New offices were built in Strum and Fall Creek making the Credit Union a truly full-service financial institution. In 2001 the name was officially changed to Partners Credit Union.

Today, Partners Credit Union serves more than 3,200 members in seven counties and has more than $19 million in assets. Our professional staff is dedicated to offering our members friendly, informative assistance on all our services.