About Us


Credit Union History
The credit union idea originated in Germany in the mid-1800’s when Frederick Raiffesien, mayor of a small town, became appalled at the poverty of small farmers and encouraged farmers to pool their money to make loans to each other to escape the hold of the money lenders.

This “People Helping People” philosophy quickly spread to other parts of the world. The first U. S. credit union opened its doors in 1909 in New Hampshire. After the passage of the Federal Credit Union Act in 1935, allowing credit union to be organized through the country, the idea was enthusiastically accepted throughout the United States. Today, credit unions constitute a more sophisticated financial system, but their purpose is still to meet the financial needs of the average consumer.

Daviess County Teachers Federal Credit Union was chartered in 1971 and was established to serve the employees of Daviess County Public Schools and their families. What began as a small organization has now grown to a full service financial institution serving additional education groups.

As a not-for-profit financial institution, our members are able to take advantage of flexible loan products that enable them to finance new and used vehicles, homes, dream vacations, and much more. A variety of deposit products are available to make everyday finances easy, and many services are offered for members to invest in their future. We also try to stay abreast of the latest technology and offer products such as internet home-banking and telephone banking.

Once a member – always a member is the policy of DCTFCU, whether or not you remain an employee of an eligible group.

How Credit Unions Differ From Other Financial Institutions
Credit Unions earnings/profits are given back to our members/owners by way of better interest rates, less fees, and convenient services. Each member age 16 and older may vote to elect the volunteer board members who establish policies regarding shares, loans, investments, and the general operations of the credit union.

Regulation and Supervision
DCTFCU is examined by National Credit Union Administration (NCUA), a U. S. Government agency that examines all credit unions. No taxpayer money is used for regulating and overseeing federal credits unions. All activities of NCUA and the NCUSIF are funded by credit unions. Also, the supervisory committee, volunteers from among the membership who are appointed by the board of directors, conducts periodic exams of internal procedures including the request of an external audit by an auditing firm.

Safety & Soundness
NCUA administers the federal insurance fund, NCUSIF, which covers all federal credit unions. Your savings are federally insured to at least $100,000 and backed by the full faith and credit of the United States Government.


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1900 Southeastern Parkway, Owensboro, KY 42303
270/684-8954 or 800/215-5574

NMLS# 449421

Copyright 2009 Daviess County Teachers Federal Credit Union