The first U.S. credit union was begun in 1909 in Massachusetts, and by 1959 at least half of all U.S. credit unions were being operated under Federal charters. The official name and charter was granted on March 15, 1959, for the Texas Tech Federal Credit Union, with membership open to all the University's faculty and staff members. The new credit union building, located on the southwest part of campus, was completed and officially opened in 2001.
From the guide to the Federal Credit Union Records, U 77. 2., 1954-2007, (Southwest Collection/Special Collections Library, Texas Tech University)