In the 1950s, Travis County employees realized that having a credit union could provide them with better financial assistance than banks. Many probably remembered the financial hardship experienced by their parents in the 30s.
One man in particular – Giles Garmon – who worked for Travis County's Adult Probation Department, led the effort that eventually led to the organization of Travis County Credit Union in June, 1954. He and other employees shared a belief that there was a better alternative, and they sought to find it. Garmon contacted someone with experience for direction with regards to establishing an employee-owned and operated credit union.The key employees pooled their money, depositing it with the fledgling credit union. With their deposits, the credit union was able to lend money to members in need. Employee-members placed their full trust and cooperation in building the credit union which operated as a "back pocket" operation – literally. In fact, one of the founding members carried the ledger balance in a spiral pad in his back pocket.
As the credit union began to grow, a woman known as "Cookie" worked a few hours a week in the makeshift office on the fifth floor of the courthouse. By February 1969, credit union growth prompted the board to hire Ben Moody to work five days a week. Moody embraced the organization's philosophy of Members Helping Members to greater heights. He was deeply dedicated to the mission of providing the best, cost-effective financial services to enhance the member-owners' quality of life and later he became the first president of the credit union.
Moody moved the organization twice while president. The first move took the credit union operation to an old house near the courthouse property. Then in December, 1986 he moved the organization into the former National Bank of Texas building where it remains today.
Margaret Rhoades, serving as president from 1993-2011, more than doubled its assets; and added a second location in south Austin via a partnership with another credit union, Government Employees FCU. In November 2002, the Travis County Credit Union was approved for a community-based membership to include all residents of Travis County.
Today, with two locations now serving all Travis County residents, and thousands of Shared Branching offices nationwide, Travis County Credit Union stands out amoung small, local financial institutions with unprecidented passion for serving Travis County and a wide-reach of services to meet their needs.