One Nevada Credit Union Explained

One Nevada Credit Union
Foundation:1950
Location:Winchester, Nevada, United States
Key People:Paul Parrish, President/CEO
Bill Flaxa, Chairman
Bradley Beal, Vice Chairman
Products:Savings
checking; consumer loans; mortgages; credit cards
Assets:$1.38B USD (As of June 30, 2024)
Num Employees:257
Homepage:onenevada.org

One Nevada Credit Union, headquartered in Winchester, Nevada, is the largest locally based federally insured, state-chartered credit union in Nevada with locations in Las Vegas, Henderson, Reno, and North Las Vegas.[1]

Membership

One Nevada has a community charter, meaning membership is available to anyone who lives, works (or regularly conducts business in), worships, attends school, or volunteers in Clark County, Washoe County, Nye County, along with members of the immediate family or household of an existing member or those eligible for membership.

Financial performance

As of June 30, 2024, One Nevada had 13 branch locations, 400 surcharge-free ATMs in Nevada alone and 43,000 ATMs nationwide as part of the Allpoint Network,[2] 75,088 members, and $1.38 billion in total assets. It is classified as a well-capitalized credit union by the National Credit Union Administration[3] and its deposits are insured for up to $250,000 through the National Credit Union Share Insurance Fund.[4] One Nevada remains one of the strongest credit unions or banks in the state with more than 13.9% in capital reserves.[5]

History

One Nevada has its beginnings in two separate credit unions that merged many years later. The Vegas Air Base Federal Credit Union was started on February 10, 1950, when nine civilian employees pooled $5 each to begin their credit union. The credit union changed its name to Nellis Federal Credit Union in 1958.

Meanwhile, at Las Vegas City Hall, seven City employees began the Las Vegas City Employees Federal Credit Union on February 14, 1951. For the next 30 years or so, both credit unions served the employees of their respective employers and their families. Both credit unions grew and expanded their services.

On August 31, 1983, the Nellis Southern Nevada Federal Credit Union and the Las Vegas Federal Credit Union merged and adopted the name Nevada Federal Credit Union.

During the 1980s, several smaller credit unions joined with Nevada Federal. Those smaller credit unions include the Showboat Credit Union, the Commercial Center Credit Union, the Nevada Air Guard Credit Union, the Washoe State Employees Federal Credit Union, the North Las Vegas City Employees Federal Credit Union, the Vegas Village Credit Union, the Tropicana Employees Federal Credit Union and others.

In August 2011, the members of Nevada Federal Credit Union approved the conversion from a federal charter to a Nevada state-charter. The credit union changed its name to One Nevada Credit Union shortly thereafter.

Notes and References

  1. Source: National Credit Union Administration, 4/14
  2. Allpoint Network. https://www.allpointnetwork.com "Allpoint Network." 27 February 2014.
  3. Source: National Credit Union Administration, 4/14
  4. Edwards, John G. Some large Nevada credit unions depend on private insurance. Las Vegas Review-Journal. 22 Aug. 2004.
  5. Source: ONCU Financials, 4/14
  6. Robison, Jennifer. Workplace Study: Working Wonders; Two Las Vegas companies ranked among best employers in U.S. Las Vegas Review-Journal. 30 June 2008.
  7. http://www.aarp.org/work/on-the-job/info-09-2011/nevada-federal-aarp-best-employers.html One Nevada Credit Union: 2011 AARP Best Employers for Workers Over 50.
  8. Training Magazine. 2011 Training Top 125 Training Magazine. 1 February 2011.
  9. SHRM. http://www.snhra.org/vegasbestplacestowork/ SHRM. 11 October 2013.
  10. Las Vegas Review Journal. http://www.topworkplaces.com/frontend.php/regional-list/company/lvrj/one-nevada-credit-union Las Vegas Review Journal. 1 February 2013.
  11. Las Vegas Review Journal. http://www.reviewjournal.com/business/top-workplaces/top-workplaces-midsize-2-one-nevada-credit-union Las Vegas Review Journal. 10 February 2014.
  12. Nevada Business Magazine. http://www.nevadabusiness.com/2014/08/best-companies-work-taking-care-people/ Nevada Business Magazine. 1 August 2014.
  13. Las Vegas Review Journal. Las Vegas Review Journal. 1 April 2014.
  14. Las Vegas Review Journal. Las Vegas Review Journal. 1 April 2015.
  15. Training Magazine. http://www.trainingmag.com/training-magazine-ranks-2015-top-125-organizations Training Magazine. 10 February 2015.
  16. Credit Union Journal. http://www.cujournal.com/gallery/the-best-credit-unions-to-work-for-1024963-1.html Credit Union Journal. 21 September 2015.
  17. Southern Nevada SHRM. http://snv.shrm.org/best-places-work-2015 SOUTHERN NEVADA SHRM 9 October 2015.
  18. Reno News & Review. https://www.newsreview.com/reno/best-of-northern-nevada-2016/content?oid=21621605 "Reno News & Review." 4 August 2016.
  19. Vegas Inc. Magazine. http://vegasinc.com/business/public-record/2016/oct/17/the-list-credit-unions-oct-16-2016/ "The List." 17 October 2016.
  20. Training Magazine. https://trainingmag.com/training-magazine-ranks-2018-training-top-125-organizations Training Magazine. 13 February 2018.
  21. http://www.cutimes.com/section/conference/39684 Las Vegas-Based Nevada Federal CU Showcases Products for the Careless.
  22. Edwards, John G. Payday lending expands. Las Vegas Review-Journal. 15 April 2009.
  23. Edwards, John G. For underbanked, prepaid cards may offer convenience. Las Vegas Business Press. 23 March 2010.
  24. Web site: Home . nevadahardesthitfunds.org.