About Us

Bank-Fund Staff Federal Credit Union (BFSFCU) is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit.

70th Anniversary LogoIn 1947, the employees of the World Bank and the International Monetary Fund came together to find a convenient and affordable way to save and borrow—and Bank-Fund Staff Federal Credit Union was created.

This year, we are celebrating our 70th anniversary of serving you—a time to reflect on our history and again honor our legacy and its enduring achievements. It is also a time to renew our commitment to you that with our strong foundation, we will continue to meet future challenges by your side.

As a cooperative, we have an obligation to tailor our products and services to the unique needs of our member-owners. We acknowledge that you have many choices in financial services providers in today’s world and we thank you for your continued loyalty and support. We pledge to continue to work tirelessly to provide you with the best value in financial services and the exceptional personal service you deserve.

As we celebrate the successes of the last 70 years, we also celebrate the future—invigorated with purpose and resolve to enrich the financial lives of our members. We look forward to another 70 years of opening doors to opportunity for you and your families.

At that time, the staffs of the Bank and Fund were unable in many cases to transfer capital from their homelands. Europe was in the grip of post-war austerity and there was an acute dollar shortage. The new staff of the infant institutions urgently needed credit for even such workday requirements as clothing and household equipment. Because of the housing shortage in Washington, many of them gravitated towards apartments. It was against this background that 25 staff members heard a representative from the Federal Deposit Insurance Corporation explain the working of a credit union, a cooperative savings and loan association to be operated solely for the benefit of the staff. They voted unanimously to proceed with the project. Five of them advanced the funds needed to qualify for its Charter.

-Bank Notes, November 1972, on the Credit Union's 25th Anniversary

Our dedicated BFSFCU team was hard at work on many initiatives in 2016, and we would like to share some of the exciting progress we have made.

  • The highlight of the year has been the successful deployment and vigorous adoption of our Mobile Banking apps for both Apple® and Android™ smartphone and tablet devices. In response to member demand, we also introduced the Passcode feature as well as Touch ID to more easily access the full functionality of the mobile app. Almost 23,000 members are actively using the apps to deposit checks with the camera on their devices, transfer money, view balances, pay bills and receive activity alerts.
  • We expanded the reach of mobile payments by adding Android Pay™ and Samsung Pay for credit cards to complement our Apple Pay™ offering which was launched in 2015.
  • We enhanced our Visa® Signature Card by introducing “No Foreign Transaction Fees” with this card. This premier card also offers greater rewards, concierge level service, no annual fee and no balance transfer fee.
  • In 2015, we introduced the 7-year/10-year Split High Yield share certificates which offer significantly higher yields for our longer-term investors. In 2016, we added the 5-year and 6-year options, plus we added all of these High-Yield share certificates to our IRA account offerings. Many members who are longer-term depositors are taking advantage of these higher rate deposit options.
  • We introduced EMV chip-enabled Visa debit cards to complement our existing and popular EMV chip-enabled Visa credit cards.
  • We upgraded our Online Banking platform to improve functionality, enhance our alert options, offer credit card eStatements, add advanced person-to-person payment capabilities, and provide an improved member experience.
  • We added paperless document and electronic signature functionality to our new mortgage loan origination system which has received high praise from our members

In addition to these achievements, we were excited to see that our members value and take advantage of the products and services available to them:

  • Nearly 7,700 members obtained low-rate loans and credit cards totaling over $718 million.
  • $453,506 was rebated to our members for the purchase and/or sale of their home through realtors in our HomeAdvantage™ program.
  • Members saved an estimated $1.4 million plus on car purchases with our Car Buying Service powered by TrueCar®.
  • Over 15,400 members were protected by TruStage™ insurance products.
  • Over $891,000 was refunded to members through our ATM Surcharge Rebate Program.

As we look to 2017, we remain dedicated to providing you with the best options in financial services and we will focus on continual improvement efforts on our products, technology, and your service experience. We encourage you to invite your family to join Bank-Fund Staff Federal Credit Union to begin enjoying the same exclusive benefits available to you. This will be an important year for our Credit Union as we celebrate our 70th anniversary and more specifically, you, our members. As always, we thank you for the privilege of serving as your financial partner.