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 eight 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 $280 million. It has undergone many changes, including: a name change, several mergers, and the addition of a number of many other employer groups, it has grown to occupy six 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 Visa credit 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.
Milestone’s in DEXSTA’s 80-Year History
May 12, 1937 Credit Union Charter meeting.
June 2, 1937 Credit union started operations in a small office in Building 174 at the DuPont Experimental Station.
July 31, 1967 Changed name to DEXSTA FCU.
1968 Credit Union moved into its own building (#331) at the Experimental Station.
1980 Began offering share drafts & direct deposit of net pay.
1985 Began offering automated teller services through Cashstream & Cirrus networks.
1987 Credit union building was expanded to accommodate growth in staff. Began offering Visa and MasterCard Credit cards.
1992 Began offering first mortgage loans.
1995 – DEXSTA can be accessed through the internet; Touch Tone Teller introduced.
November 1996 – Merged with WILDUPCO FCU.
1997 - Purchased and moved into 24,000 sq. ft. building at 300 Foulk Road to house administrative headquarters, as well as a branch; began offering Visa Check (debit) cards.
1998 October 28, 1998 ribbing cutting ceremony for newly renovated main office located at 300 Foulk Road in Wilmington.
1999 24-Hour ATM access at Foulk Road and Downtown office.
2000 – June: Indirect Lending was introduced with nine dealerships participating;
July: Phone Center established. Home Banking.
January 2002 – Prices Corner Branch opening.
February 7, 2002 – Credit union approved for a community charter for New Castle County.
January 2005 – Downtown Branch grand opening.
2007 – Preparation for new system conversion to take place April 1, 2008.
2008 - Broke ground on Middletown branch. We merged with the Delaware VA Federal Credit Union.
2009 - Middletown branch opened. To promote Financial Literacy, we participated in Junior Achievement Delaware.
2010 - Readers Choice winner in the Credit Union category.
2011 - We introduced reloadable debit cards. Our call center went to 24/7 hours of service. Won Readers’ Choice award second year in a row.
2012 - 75th Anniversary. We started offering Visa Rewards Card. We updated Home Banking Security.
2013 - We joined Facebook and Twitter. Started testing Shared Branching.
2014 - Started offering DEXdeposit and DEXSTA@home. We merged with Delaware First Federal Credit Union. We gained their branch on Newport Gap Pike.
2015 - Our Rewards Visa now offers Points to Cash.
2016 - We merged with DuPont Employees Federal Credit Union and First State Refinery Federal Credit Union. We gained First State Refinery’s branch in New Castle. We are the first to offer Kasasa Rewards Checking. We issued EMV Chip cards. We won the Corporate Credit Union Associations Award of Excellence for Social Responsibility. From the Middletown Transcript, we were named 2016 First State Favorite.