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CMCU History Our History
The Founding Father

Herman J. Hoose relocated to Charlotte in 1948 as the city's first traffic engineer. Recognizing the need for a financial institution to serve Charlotte city employees, Hoose founded the Charlotte City Employees Credit Union (CCECU) in 1962, an organization that would eventually become Charlotte Metro Federal Credit Union (CMCU).

Growth and Expansion

During the 1970's, the Charlotte City Employees Credit Union doubled in assets to nearly $6 million. The Credit Union serviced only Charlotte city employees until 1983 when membership expanded to include Charlotte transit and the local housing authority.

Innovative Thinking Leads to a New Headquarters

On July 10, 1984 CCECU began construction of a new branch and headquarters at 718 Central Avenue. The building was funded by Charlotte City Employee Credit Union members through a program called the "Square Footer Club." This program offered a high rate of return on certificates of deposit to encourage membership and deposits. The initiative helped fund the building and was the beginning of an inclination toward innovation in financial product development and service delivery for which Charlotte Metro has acquired a reputation. And talk about amortization... the "Central" branch and headquarters is still in use over 25 years later!

Membership Expansion

In November of 1984, Charlotte City Employees Credit Union modified its name to reflect new member eligibility and became Charlotte City Credit Union. The credit union expanded membership to Mercy Hospital employees in September of 1985 and added Presbyterian Hospital in 1989. In October of 1985, Charlotte City Employees Credit Union completed its first merger with Mecklenburg County Credit Union. The merger added Carolinas Medical Center to its current member eligibility providing an additional 4,500 members for a combined total of nearly 8,500 members.

Charlotte Metro is Born

In July of 1986, Charlotte City Credit Union became Charlotte Metro Credit Union and continued its expansion. In September of 1992, the credit union began offering automated banking through the installation of an ATM machine at the Central Avenue branch. Voice response banking became available in 1993 and online banking followed in 1998.

Charlotte Metro Becomes a Federally Chartered Community Credit Union

Charlotte Metro Credit Union became a community chartered financial institution in 2001 and received its federal charter in December of 2008. As a not-for-profit cooperative, Charlotte Metro is wholly owned by its depositors and operates as a 501 (c) 1 organization governed by an elected volunteer board of CMCU members. Each depositor is insured up to $250,000 by the National Credit Union Administration and up to an additional $250,000 through a private insurer.


Charlotte Metro Today

Today CMCU has over 340 million in assets with over 44,000 members. The credit union is currently open to anyone who lives, learns, works or worships in Cabarrus, Gaston, Iredell, Lincoln, Mecklenburg, Rowan and Union Counties in North Carolina; York, Lancaster, and Chester Counties in South Carolina. CMCU actively seeks new members with competitive deposit and lending rates while operating twenty-four ATM's and seven branches.

Community Involvement

Charlotte Metro Credit Union has an established reputation of supporting the community with business finance options for community growth and revitalization. Charlotte Metro has a community outreach program that includes scholarship awards under the Herman Hoose Scholarship Fund. CMCU has won many awards including ten Dora Maxwell Social Responsibility Community Service Awards and recognition from the North Carolina Law Enforcement Torch Run for contributions to the Special Olympics. Also, Charlotte Metro recently partnered with Charlotte Mecklenburg Schools to open the Jaguar and Olympic Metro Credit Unions in two local high schools to encourage business and finance education.

On the Horizon

Charlotte Metro's mission is to remain the trusted financial services leader that returns its profits to members through exceptional rates, services and accessibility. In accomplishing that goal Charlotte Metro will continue to be an innovator among its peers and competitors introducing new financial products solely for the benefit of members. New service delivery technology will be brought online to make member banking at Charlotte Metro easier and more efficient. CMCU is seeking expansion of its charter to include the contiguous counties around Mecklenburg offering more value to more potential members.

The LOCAL Banking Alternative

Throughout the history and growth of Charlotte Metro Federal Credit Union, one fact remains constant: With a friendly voice, a smiling face, a helping hand and a caring attitude, Charlotte Metro is vested in the Charlotte community serving regular people and offering fair value for a fair price. Local people benefiting local people. And that makes Charlotte Metro the LOCAL banking alternative - like a bank, only better.