IBEW 116 Federal Credit Union was chartered in 1969 by a group of Local 116 Union Electricians with a vision that forming a credit union would be an asset to their Local Union 116. These handful of electricians provided the capital to start the credit union by pooling their resources, and made low cost loans to each other. Today, the credit union not only serves IBEW Local Union 20 electrical workers and their families, but also other union trades which include IBEW Local Union 220, and Plumbers and Steamfitters Local Union No 146.