In 1954, a group of Red Wing Shoe Company
employees decided to form a
cooperative from which they could save and borrow at reasonable rates. The
Red Wing Shoe Company Employees Credit Union began operation on June 1,
1954 in Plant 1 of the Red Wing Shoe Company, operated by
member/volunteers. Professional staff was hired as the credit union grew,
but the office remained within Plant 1 until August 1985 when it relocated
to the Armory Center. In 1987 the credit union expanded its charter to
allow employees of companies other than the Red Wing Shoe Company to join.
The St. James Hotel and S. B. Foot Tanning Company were the first of many
local employers who have since joined our field of membership.
credit union moved to its current location in August 1993. This move gave
us much needed office space, parking and additional drive-up lanes. To
more accurately represent our diverse membership, members approved a name
change to Red Wing Credit Union in 1997.
In 2000, Red Wing Credit Union added a major expansion to
accommodate our growing membership. In 2002, we welcomed Xcel Energy to our
list of SEG groups. In 2003 we received a community charter from the
Department of Commerce opening our membership to all people living, working
or doing business in Goodhue County.