TAPCO, www.tapcocu.org, Achieves Major Milestone
Award-Winning Credit Union Celebrates 75 Years Serving Pierce County
(Tacoma, Wash.) TAPCO Credit Union, www.tapcocu.org, is observing its 75th anniversary as a model of consistency in providing service and affordable loan rates for thousands of its members in Tacoma and throughout Pierce County.
Actually, TAPCO is legendary for its service to its valued members, award-winning community service, affordable loan rates, and quality services. Despite its success since 1934, TAPCO continually strives to be a progressive Pierce County credit union by providing terrific loan programs and services.
TAPCO was one of the first financial institutions to provide secure and free mobile banking, online banking and bill pay at www.tapcocu.org. That’s in addition to its six convenient locations, affordable loan programs and other valuable financial services.
“We appreciate the opportunity to serve our members for the last 75 years,” said TAPCO CEO John Bechtholt. “We pledge to continue our ongoing efforts to be relevant and financially secure for our valued members. TAPCO’s employees and Board of Directors work hard as people helping people to justify our motto: It’s Where You Belong.”
TAPCO members’ savings are federally insured to at least $250,000 by the United States government and National Credit Union Administration (NCUSIF), a U.S. government agency. NCUSIF insures the savings of more than 86 million members in the nation’s federal credit unions. It’s worth noting NCUA is supported by credit unions, not federal tax dollars.
As TAPCO prepared for its 75th anniversary last year, it earned the highest award for healthy credit unions -- a “5-Star Superior” rating from BauerFinancial, Inc. for the 37th consecutive evaluation period.
“The times are changing and fewer institutions are qualifying for this top rating, but our rigorous standards remain,” said Karen L. Dorway in her announcement as president of BauerFiancial, the Florida-based independent credit rating and research firm.
Dorway said TAPCO’s 5-Star Superior rating is unique in an era when other financial institutions are struggling.
“You should be proud to know that your local credit union TAPCO Credit Union can claim this highest honor and be confident in becoming a member,” she added.
TAPCO has repeatedly been named recipient of the ''Dora Maxwell Award for Social Responsibility.'' Ms. Maxwell is well-regarded for her efforts to help the needy in the nation’s early credit union movement.
TAPCO received the social responsibility honor on multiple occasions for its work with organizations, including Mary Bridge Children’s Hospital, Law Enforcement Youth Camp for disadvantaged youth, and for a program to aid the Washington State Council of Firefighters Burn Foundation.
TAPCO has also been instrumental in helping other important causes, such as Tacoma/Pierce County Crime Stoppers, http://www.i91.ctc.edu/crimestoppers/; Tacoma-Pierce County Chaplaincy, www.t-pcc.org; and Biz Kid$, a financial literacy program for children, which airs on PBS station, KBTC. TAPCO was also instrumental in establishing Biz Kid$ as a nationwide PBS program.
TAPCO was established the same year when the credit union movement began during President Franklin D. Roosevelt’s innovative “New Deal.” He signed The Federal Credit Union Act into law on June 26, 1934.
Why Join a Credit Union?
Credit unions are member-owned cooperative financial institutions that are historically organized around a common bond, such as an employer. Credit unions, unlike banks, are not-for-profit organizations existing only to serve their members. This enables them to pay favorable rates on savings accounts and charge competitively priced, low interest on loans.
Why Join TAPCO?
TAPCO Credit Union has a long and rich history in Pierce County. Founded in 1934 by nine City of Tacoma employees, TAPCO has grown to over 24,000 members.
Each member has a voice in how TAPCO operates. Member participation keeps TAPCO focused on the founding members' vision of "People Helping People."
How Does TAPCO Operate?
While maintaining a professional staff to run daily operations, TAPCO is governed by a Board of Directors that establishes and reviews policy. The Directors are TAPCO members who are elected by the membership and serve without pay. Every member has one vote, regardless of how much he or she has on deposit. At TAPCO, there is no select group of shareholders that profits more than anyone else. All members profit, individually and collectively.