Memphis is home to four Fortune-ranked companies that collectively employ 490,026 people. We also have several other local companies that make an impact in our community.
Over the past 62 years, Orion Federal Credit Union has woven its way into the fabric of Memphis, Tennessee. Orion was founded in 1957 as the Memphis Area Teachers Credit Union (MATCU). At the time, one had to be an educator to become a member. Over the years, the organization evolved to serve the greater Memphis community, and this requirement was removed. Today, Orion FCU is one of the largest credit unions in the Memphis area and has upwards of 70,000 members and $800 million in assets. Members are offered a full assortment of banking services including both savings and checking accounts as well as home, auto, commercial, and personal loans.
When did the Memphis Area Teachers Credit Union become Orion? In 2010, MATCU members voted to become federally chartered, which would shift its regulatory body from the state to the federal government. Along with this change, MATCU, changed its name in June 2011 to Orion Federal Credit Union. The new name was chosen after the famous constellation. The organization envied the concept that many individual components could come together to form one larger entity. Of course, the new name also helped clarify that one did not have to be a teacher to join any more, and that all people were eligible to become members.
How is Orion serving the community today outside of banking? It seems abundantly clear that Orion is proud to be in Memphis. With less than 300 employees, Orion manages to donate both financial support and several hundreds of volunteer hours to the community each year. Employees are encouraged to participate in Orion Gives Back, a program with the sole intent to pair employees with volunteer opportunities in Memphis. Through this program, employees have volunteered with several local organizations including the Memphis Food Bank, the Ronald McDonald House during their annual telethon, and Shelby County Schools. Each branch is actually paired with a different school in Memphis at which it’s employees volunteer. They might read to a class, judge an academic competition, or help clean up at the end of the year. Orion is also currently, or has been, a sponsor of the Movies at the Orpheum, Starry Nights, the Orion Free Music Concert Series at the Levitt Shell, 901Fest, the Orion 5k (formerly the Gibson Guitar 5k), and Indie Memphis.
What else does the universe have in store for Orion? This month, in June 2019, Orion FCU is moving its headquarters to a new location in downtown Memphis. Orion continues to embrace Memphis culture as 150 administrative employees are moving to the iconic Memphis Wonder Bread building, which had been deserted since 2013. So far, the Wonder Bread sign has remained atop the building to nostalgically hallmark the building’s history.
Hopefully, the future will bring another 62 years for Orion FCU in which they will continue to employ citizens of the mid-south and contribute to the thriving community in Memphis.
Photo by Creation Studios