A special thank you to our loyal members who have stayed with us since the inception of the credit union in 1960.
Spirit of Alaska Federal Credit Union is proud to celebrate 50 years of service to the Fairbanks community.
Our Educational Roots
From the Viking Room of Constitution Hall, UAF, Spirit of Alaska began as “The Greater Fairbanks Teacher’s Credit Union.” In 1960, Niilo Koponen, Stan Sailors, Don Wheat and Bill O’Dell had $32 in a metal cash box. These four teachers wanted an alternative financial institution from the two banks in town (and the ever present loan sharks).
Without any employees, the Credit Union operated out of the desk drawer of one of the members. In the 1960’s, teachers did not make very much money. However, other teachers began to join through word of mouth. With a low membership fee of $5.00, the credit union began to grow beyond the metal cash box. Teacher’s loved the idea of having their own financial institution.
As the growth continued, in 1975 we changed our name to “Northern Schools Federal Credit Union.” Our member base continued to expand through the next 30 years. To facilitate the growth of the credit union, we became “Spirit of Alaska Federal Credit Union” in 2007.
Today we serve around 10,000 members. There are approximately 65 employees staffing three branches in addition to Mortgage Lending, Consumer Lending and Business Lending departments. We have experienced steady growth and continue to strive to provide our members with quality service.
All this from a humble beginning, $32 in a metal cash box, four dedicated teachers and a need for something more than loan sharks.
A special thank you to our loyal members who have stayed with us since the inception of the credit union in 1960. We are looking forward to another 50 years of excellent service to our community.