Our One History

How it all started

Member One Federal Credit Union was created by the employees of Norfolk and Western Railway in August of 1940. Twenty railroad employees became charter members of the Credit Union by combining their savings of just over $50 and requesting recognition as a cooperative financial institution formed for employees of the railroad.

The Credit Union Way

Unlike a bank that has stockholders, our Credit Union is owned by its members who elect a volunteer board of directors.

Our Connection to the Railroad

Since our formation over 80 years ago, there has never been a time when we did not have at least two prior railroad employees serving on our Board of Directors and providing financial oversight. In addition, a former Credit Union Board member even rose to the position of Vice Chairman of Norfolk Southern Corporation.

Early growth and expansion

Initially chartered as Norfolk and Western Roanoke Employees Federal Credit Union, the charter would later grow to include employees along the entire railroad system. Decades later, just as Norfolk Southern grew and expanded, several smaller Southern and N&WRR employee credit unions would voluntarily merge into our own—thus adding to our already rich railroad heritage.

The first location of the Credit Union was in the basement of the General Office Building-South of N&WRR headquarters in Roanoke. Later the Credit Union would move to the first floor of the Passenger Station in Roanoke, now known as the O. Winston Link Museum.

New branches for new members

In 1978, the Credit Union expanded beyond its Roanoke footprint and opened its first branch in Virginia Beach to serve both operations and management staff in the Tidewater area (including the expansive Coal Pier location). Just a few short years later, upon the merger and creation of Norfolk Southern Corporation, the Credit Union built a new branch in the Virginia Beach area to serve the increasing number of employees in the region.

Roanoke headquarters

In 1981, the Credit Union would move headquarters to its current location in downtown Roanoke—in close proximity to former locations of the Norfolk Southern offices and car shops.

New eligibility, new name

An expanded field of membership opened up new eligibility opportunities for people wishing to join the Credit Union. To better reflect the growing and diverse membership, the Credit Union changed its name to Member One Federal Credit Union in 1997—a name that embraced the heritage of an organization owned by its members.

History of equality

Whether for the newest employee or its most senior, whether a brakeman or an executive, Member One has continuously provided vital financial services to our railroad members. And as our members' financial needs have evolved over the years, our Credit Union has as well. Growth into new markets and additional employee groups has provided needed scale for Member One to offer new and important financial services, from personalized mortgages to online and mobile banking to vehicle loans and Visa debit and credit cards. Providing vital services to meet the important financial needs of our members has enabled the Credit Union to grow our member deposits to nearly $1.5 billion in 2022.

Where we are today

Today our team of nearly 300 employees stand ready to fulfill the financial needs of Norfolk Southern personnel. With competitive products and services, financial education resources, and dedicated, caring employees, we have what our members need to build healthy financial lives.