The History of Pyramid Federal Credit Union
Pyramid Federal Credit Union has been part of the Tucson, Arizona community for more than nine decades. What began with a small group of local postal employees grew into a member-owned financial cooperative serving people and families throughout Pima County.
From Tucson Postal Workers to a Community Credit Union
The roots ofPyramid Federal Credit Union reach back to 1925, when a group of Tucson postal employees began working together to improve their financial lives. Their cooperative spirit eventually led to the creation of a credit union.
OnNovember 29, 1929, after Arizona adopted legislation recognizing credit unions, Pyramid received one of the state's first credit union charters. The organization that once conducted business from the pockets of its treasurer would eventually grow into a community financial institution serving Tucson and Pima County.
Through economic change, war, technological transformation, new branches and credit union mergers, one idea has remained constant:people helping people improve their financial lives.
Pyramid History at a Glance
Nearly a Century of People Helping People
Explore some of the milestones that shaped Pyramid Federal Credit Union and its role in the Tucson community.
The Idea Takes Root in Downtown Tucson
Pyramid's story begins in the halls of Tucson's post office, then located in the old Ronstadt's Hardware building downtown. A small group of enterprising postal employees formed a stock market investment group as a way to help improve their financial lives.
As coworkers saw what the group was accomplishing, more employees joined. The experience helped lay the foundation for something larger: people pooling their resources to help one another achieve financial success.
Pyramid Becomes a Chartered Credit Union
As the United States entered the economic crisis that became the Great Depression, Pyramid's founders saw an opportunity for people to help one another through difficult financial times.
Credit unions were not yet formally recognized and regulated by the State of Arizona. After months of work with Arizona lawmakers, credit union legislation was adopted.
OnNovember 29, 1929, Pyramid received one of Arizona's first charters to formally operate as a credit union.
A Credit Union That Could Fit in a Pocket
In Pyramid's earliest years, there was no traditional branch. Credit union business could be conducted wherever the treasurer happened to be found: at the post office, at home, along a mail route or even from the tailgate of a parcel post truck.
Pyramid's first annual meeting was held in the swing room of Tucson's Main Post Office in the Federal Building downtown. The gathering also helped begin a tradition of members sharing an annual dinner together.
Adding Machines, a Rolltop Desk and World War II
In the early 1940s, Pyramid purchased a $75 adding machine. A rolltop desk and swivel chair were provided for credit union business in the basement of Old Pueblo Station.
World War II created significant challenges. Many Pyramid members entered the armed services, credit union accounts were closed and federal regulations limited lending. Pyramid's total shares fell dramatically, but the credit union survived.
A Postwar Resurgence and Pyramid's First Manager
By 1948, Pyramid had 98 members. The credit union renewed efforts to serve postal employees, distributing member bulletins, posting information at postal stations and appointing representatives throughout the postal system.
That same year,Munday Curdbecame Pyramid's first manager, separating day-to-day credit union operations from the responsibilities of the Board of Directors.
Assets Reach $50,000
Pyramid reached $50,000 in assets in 1950. At the time, one director reportedly questioned whether the credit union would ever grow much larger.
Pyramid Passes $1 Million in Assets
Less than two decades later, Pyramid proved how much room there was to grow. In 1968, the credit union's assets passed the$1 millionmark.
Munday Curd Retires After 29 Years
Munday Curd retired in 1977 after nearly three decades of leadership. During his tenure, Pyramid grew from approximately $10,000 in assets to $3.8 million and from a single employee working from a home office to 13 part-time employees working in a four-room office.
Pyramid later established theMunday Curd Scholarshipin 2005 to honor his legacy and help young Pyramid members continue their education.
Pyramid Opens Its First Branch
During the 1980s and 1990s, banking changed dramatically. Pyramid moved beyond the days of postal station representatives collecting passbooks and began expanding its physical locations, products and services.
In1983, Pyramid's first dedicated branch was built at 921 North Swan Roadin midtown Tucson.
New Locations for a Growing Tucson
As Pyramid entered a new century, its leaders recognized that future growth would require moving beyond the credit union's original postal-service roots.
New Speedway and Rita Ranch locations opened one month apart in 2002. The Speedway location originally operated as a shared facility, serving members of several Tucson-area credit unions.
Membership Expands Across Pima County
In early 2003, Pyramid members approved a bylaws change expanding the credit union's ability to serve people throughoutPima County.
By Pyramid's 75th anniversary in 2004, membership had grown to more than7,200 members and assets exceeded $64 million.
Three Tucson Credit Union Traditions Come Together
In January 2012, Pyramid joined withTucson Telco Credit Union and Southern Arizona Communications Credit Union.
Each organization brought a proud Tucson history to the combined Pyramid Federal Credit Union. Together, the institutions created a stronger organization serving approximately 13,000 members.
The Pyramid Family Grows Again
In January 2013,Tucson Healthcare Affiliates Federal Credit Unionbecame part of Pyramid, adding another chapter to the credit union's history of cooperation and community growth.
A Tucson Tradition Built for the Future
The adding machines, handwritten ledgers and passbooks of Pyramid's earliest years have given way to online and mobile banking, digital applications, modern branches and nationwide access through shared branch and ATM networks.
The technology has changed. The cooperative philosophy has not.
A Bright Future on a Solid Foundation
Today, Pyramid Federal Credit Union remains amember-owned, not-for-profit financial cooperativerooted in Tucson and serving Pima County.
Members can access their accounts through modern branch locations, online and mobile banking, lending services and extensive ATM and shared-branch networks. But behind every new technology and service is the same philosophy that brought a small group of postal employees together generations ago.
Since 1929, Pyramid's purpose has been helping members improve their financial lives.As the credit union moves toward its next century of service, that commitment remains the foundation for what comes next.
Become Part of Pyramid's Story
Generations of Tucson families have helped build Pyramid Federal Credit Union. Discover what membership can mean for you and your financial future.