Our History
Since 1957, Clackamas Federal Credit Union has been helping families in Clackamas County achieve their financial goals. We’re a not-for-profit financial cooperative dedicated to the financial success of our members.
When did credit unions begin?
1850
Herman Schulze-Delitzsch set up the first credit society for farmers in Germany struggling to pay exorbitant rates to moneylenders. Members pooled resources to lend to each other, and the rates were fair. By 1859, there were 183 of these credit societies.
1864
The first credit union was founded by Friedrich Raiffeisen in Bavaria. Under his guidance, credit unions grew in numbers and influence.
1901
In Canada, Alphonse Desjardins was outraged when he heard about unfair interest rates. He organized the country’s first credit union.
1909
St. Mary’s Bank was chartered in Manchester, New Hampshire, becoming the first credit union established in the United States. It still exists today.
Our Story
1957
Clackamas began as CLACKCO Federal Credit Union, founded by seven Clackamas County employees and one employee from Oregon City. CLACKCO was originally chartered to serve county, municipal, state, and federal employees who worked in Clackamas County. The first office was located in the County Courthouse, and it was run by volunteers.
1958
CLACKCO relocated to the second floor of the City Hall in West Linn.
1972
CLACKCO moved into its Oregon City location on Warner Milne Road. The building has been remodeled several times since then to accommodate growth.
1984
Milwaukie Community Credit Union merged with CLACKCO, and we changed our name to Clackamas Federal Credit Union.
2003
The National Credit Union Administration (NCUA) approved a community charter allowing anyone who lives, works, worships, or attends school in Clackamas County to apply for membership.
2004-2007
Several new branches opened as a result of the new community charter, including Canby, Molalla, and a branch on McLoughlin in Milwaukie.
2011
Clackamas was welcomed in Sandy. The only credit union in Sandy, this new branch had a line out the door on opening day.
2012
Clackamas returned to its roots in West Linn, and we opened a new branch in the Safeway at the top of Salamo Road. We also launched our mobile app.
2016
Clackamas opened its seventh and eighth branches in Happy Valley off Sunnyside Road and in Milwaukie at Willamette View Continuing Care Community.