Fifty-Nine Year History The Big Spring District T & P Federal Credit Union was granted its charter on May 8, 1947. The seven subscribers felt there was a definite need for a credit union to serve the railroad employees in West Texas.
Mr. S. R. Lassiter was elected to serve as the first President of the credit union when the Board of Directors met for the organizational meeting on May 27, 1947. Enthusiastic and proud, best describe the early credit union members. As the men traveled from town to town on their jobs, they encouraged fellow employees to join their credit union. Sometimes they loaned them the money to join, from their own pockets.
 The credit union enjoyed a steady growth until 1960. On May 1, 1960, the Western Division headquarters of the T & P Railway Company moved from Big Spring to Fort Worth, Texas, taking many local jobs with it. During this same period, steam engines were dieselized resulting in the loss of approximately 700 jobs locally.
These potentially devastating conditions took their toll. The membership of 1,122 began a steady decline until it finally "bottomed-out" at 722 members in May 1968. The loss of 36% of the membership in many cases would result in the liquidation or merger of a credit union. But not for this proud group. The remaining members rallied and never allowed the credit union's assets to diminish.
In 1968, the credit union was able to purchase a building across the street from the depot and the office was moved to 104 Main Street. It was an exceptionally satisfying reward when the credit union reached one million dollars in assets on June 30, 1969.
 Throughout the 1970's the credit union slowly recovered from the devastation of the 60's. Membership gradually increased while assets grew at a more rapid pace. The credit union attained another milestone in September 1976, when it reached two million in assets. MasterCard and "on-line" computerization of operations were also added in the 70's.
The early 1980's brought many changes and additional services for the credit union. The Permian Basin "oil boom" brought an increase to railroad business and exceptional credit union growth. October 1981, saw the introduction of checking accounts and in 1982, IRAs for the members. Late 1982, was the start of a decline in the oil market. The decline escalated and by mid 1983, the area found it's self faced with a recession.
The credit union's field of membership was expanded in April 1983, to include the relatives of members. The Directors were concerned about the credit union's facilities. In August 1984, the building at 101 Main Street was purchased and extensive remodeling was begun. On March 1, 1985, the credit union moved to its present home. The credit union recorded its largest growth in many years during 1986.
 The late 80's saw the credit union remain stable even though the railroad industry continued to stagnate. The officials and staff were extremely concerned with the need for a broader membership base. Credit union membership for eligible primary members was in excess of 95% and the median age of members was over 50.
April 1991, brought the joyful news of NCUA approval of a membership expansion. The membership base of Cap Rock Electric Cooperative became eligible for membership in the Big Spring District T & P Federal Credit Union. Approximately one year later, Lone Wolf Electric Cooperative merged in to Cap Rock Electric and became eligible for credit union membership. Rural customers from Roscoe, Texas, west to Odessa, north to Klondike and south to Big Lake were now in the credit union's field of membership. This increase of potential members gave the credit union a firm foundation for future growth.
The 90's saw exceptional growth in many areas of the credit union. Assets exceeded six million dollars and loan growth led the way in growth, reaching 24% growth during 1995. In 1995 the credit union was able to purchase the adjacent building located at 103 Main Street. This addition allowed facility expansion, to over double the current floor space. An extremely popular addition to the credit union facilities was the drive in window in December 1995.
 In keeping with the technology of the 90's, the credit union expanded its MasterCard program to include ATM access. To better serve our local and out of town members, the Board and staff felt a direct access to the member's checking account was necessary. In February 1996, the credit union became the first financial institution in Big Spring to offer a debit card. An Internet Web Site was added to the credit union's list of services in the fall of 1997.
After many months of hearing rumors that Union Pacific Corporation would be moving the railroad offices located in Big Spring to Sweetwater, Texas, the rumors were confirmed. KBST raido interviewed a Union Pacific official who stated the offices would be moved July 1, 1999. Credit Union officials had been making contingency plans for a branch office in Sweetwater for over a year. With release of the date, these plans were put into action. An opening date of June 1, 1999, was announced at the Credit Union Annual Meeting. However, delays in the construction of the Sweetwater depot resulted in the Union Pacific employees not being assigned until September. The credit union opened its Sweetwater office on November 1, 1999.
The Board of Directors and staff felt the name of the credit union needed updated since two offices would be in operation. Members in attendance at the annual meeting indicated they were in favor of "T & P" remaining in the name. As a result of these views and those indicated in a survey conducted by the credit union, "T & P Federal Credit Union" was submitted to the National Credit Union Administration (NCUA) for approval. Approval was received in April 1999, and the credit union's name was officially changed to T & P Federal Credit Union as of May 1, 1999.
In December 2001, NCUA notified the credit union it had been granted permission to serve the residents of Nolan County, Texas. This expansion brought exceptional growth in membership. Other groups were added to the credit union's field of membership in 2002. They were employees of Fibercom and the Lamun Lusk Sanchez Texas State Veterans Home.
2005 was an exciting year for the credit union. A building was purchased at 208 Lamar Street in Sweetwater and on September 1, the Sweetwater office moved to this larger and more accessibale location. On September 16, 2005, the Big Spring State Hospital Federal Credit Union merged into our credit union. The officials and staff look forward to working with these new members in providing the financial services they need.
The T & P Federal Credit Union is proud of its history. It has been able to overcome adversity and today is a modern financial institution with a strong financial base. The future is bright as the officials, staff, and membership work together to make it the primary financial institution of the West Texas railroad employees, Big Spring State Hospital employees, Lamun Lusk Sanchez Texas State Veterans Home employees, FiberCom employees, Cap Rock Electric members, and the family members of these groups. | 
SEPTEMBER 3, 2010 
