Our History and Future
A Look Back to 1937
The Great Depression had not yet run its course in 1937. Workers at the DuPont Experimental Station were fortunate to have jobs, but wages were very low and many people found themselves overextended financially. The banks were not meeting the average worker's need for small loans, and the management at DuPont wanted to find a way to get their workers back on the road to solvency.
It was at that time that Thomas Twilley, Central Research Manager, and T. Lees Bartleson, Chief Engineer, invited employees to hear a talk about credit unions given by a member of a Philadelphia credit union. The audience was eager to learn more about these financial cooperatives, and how they were helping people all around the country. Several other meetings followed and on May 12, 1937, 22 employees signed a charter to form the DuPont Experimental Station Employees Federal Credit Union. Each of the original charter members pledged $5 each as an initial share. One of the charter members, James McVey, withdrew $500 from his bank savings account and deposited it in the credit union so it could make loans.
Over the past seven decades, the Credit Union has grown in members from 22 to over 37,000, and in assets from the original $110 in pledges to over $240 million. It has undergone many changes, including: a name change, several mergers, and the addition of a number of many other employer groups. And it has grown to occupy five offices. DEXSTA Federal Credit Union is now a very strong, full-service financial institution that offers everything from simple share/savings accounts to money markets, IRAs, first mortgages and debit cards. In 2002, we also changed our charter - today, anyone who lives, works, worships or attends school in New Castle County, Delaware, can join.
But one thing that has not changed is DEXSTA's commitment to the people-helping-people philosophy. In a time when banks are reporting record profits (at the expense of their customers) and imposing more fees, your Credit Union is proud to remain a not-for-profit alternative for all your financial needs.
OUR MISSION: DEXSTA Federal Credit Union will be the first choice for the New Castle County community by offering a wide variety of products and services to meet the financial needs of our diverse membership.