The credit union idea is a simple one: People should be able to pool their money and make loans to each other. It’s an idea that evolved from cooperative activities in 19th century Europe.
Rockford Bell Credit Union was first organized in 1935 by a group of Rockford employees of Illinois Bell Telephone Company and their families. The Credit Union prospered for many years as an employee Credit Union for the local telephone company. The early history of this Credit union is marked by commitment to a concept of community and mutual support.
As early as 1970 the Credit Union reported over $1,000,000 in total assets and 2,000 members. It was in the 1970s that the scope of Credit Union membership began to change, as many former telephone company employees and their families continued to participate in the life of the Credit Union. In the 1980s, after the breakup of Bell Telephone, Rockford Bell Credit Union began to accept other employee groups.
In the 1980s & 1990s, the Credit Union added services and staff to meet the growing needs of its larger membership. Rockford Bell Credit Union now offers several savings options, checking, Visa credit and debit cards, travelers checks, auto loans, personal loans, home equity and mortgage loans.
Rockford Bell Credit Union has grown into a $30,000,000 financial institution with over 4,300 members serving Winnebago, Boone, Ogle, Stepenson, Jo Davies,Carroll, Whiteside and Lee Counties and over thirty-five different employee groups. The Credit Union completed a new full service Credit Union facility on Perryville Rd. in 2000 and now operates two full time locations.
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