History of Alaska USA

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Congress reaffirms purpose

The 1980s brought credit union changes across America as the NCUA established a policy authorizing credit unions to serve occupational and associational groups that were without credit union service. As a result of this policy, over 4,000 employer and association groups requested and received NCUA approval to be included in Alaska USA's field of membership.

This NCUA policy was challenged in a lawsuit brought by the banking industry in 1990. After seven years of litigation, the lawsuit ended in a U. S. Supreme Court ruling that overturned NCUA's regulation permitting service to more than a single organization. In response to this decision, credit unions mobilized an overwhelming grassroots effort and petitioned Congress to ensure member access to credit union services.

In 1998, Congress passed the Credit Union Membership Access Act. This legislation enhanced access to credit union membership and modernized the Federal Credit Union Act. It also reaffirmed Congress' commitment to a federal income tax exemption for credit unions based on their purpose of providing financial services to people through a cooperative, democratic, not-for-profit structure.

The Internet and retail expansion

Alaska USA was the first financial institution in Alaska to offer PC account access services. It wasn't long, however, before dial-up PC connections were overshadowed by the Internet revolution of the 1990s. Alaska USA committed resources to developing online services that members could access from the world wide web, including account management tools and a full range of transaction and convenience services.

These online self-service options are offered fee-free, providing pricing advantages to members regardless of their location. This self-service approach also applies to other electronic delivery systems, including a network of hundreds of ATMs and self-service terminals in many branches, establishing Alaska USA's Member Service Network as a preferred option for many members.

While Alaska USA was going global with the Internet, it was also enhancing its in-person branch service with a retail expansion strategy. Through partnerships with leading retail chains such as Safeway, Fred Meyer, Albertsons and QFC, Alaska USA reached out to new markets with convenient in-store branches that offer expanded hours to complement members' busy schedules. This expansion has resulted in dozens of new branch locations in Alaska and Western Washington.