May 8, 1935, Dr. J.R.E. Lee persuaded six individuals to deposit $50.00 each of their personal funds to obtain a federal credit union charter. The Florida A&M College Employees Federal Credit Union was born. The purpose of the newly organized credit union was to encourage its members to save money and to provide loans to other members.
From 1935-1981 the credit union was located on FAMU campus in Lee Hall. In 1953, the credit union changed its name to the Florida A&M University Federal Credit Union.
The credit union moved in 1982 to a 3000 square foot facility located on Melvin Street just outside the FAMU campus. In 2002, the credit union relocated to its present location at 1610 South Monroe Street in a 10,000 square foot state-of-the art facility.
Over the years the credit union has expanded its membership to include a wide range of community organizations and churches. The FAMU Federal Credit Union is proud of its community involvement and looks forward to many more years of service.