About Us

Democracy FCU exists solely to serve our members. Our goal is to provide 'financial freedom for all' to our members by helping them achieve their financial goals through competitive interest rates and affordable services.

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History of Democracy FCU

Democracy Federal Credit Union received its charter on May 26, 1936, just two years after the passage of the Federal Credit Union Act. The charter was originally issued in the name of Social Security Employees Federal Credit Union. The name was changed to FSA Employees Federal Credit Union in 1946, and to HEW Employees Federal Credit Union in 1955. In March 1984, Employees was deleted and our name changed to HEW Federal Credit Union. Recognizing our democratic structure and principles and our growing family of members, we became Democracy Federal Credit Union on January 1, 2015.

Membership eligibility was initially limited to employees of the Social Security Board in Washington, D.C. and their immediate families. Numerous government reorganizations and subsequent amendments to our charter over the years have brought the Credit Union to its current position serving the employees of the Departments of Health and Human Services (formerly Health, Education & Welfare), Department of Education and employees of other agencies and their families.  Democracy FCU also serves people who live, work, worship, go to school or do business in Washington, D.C. and most areas in Maryland and Virginia within the beltway.

The growth of Democracy FCU has been notable. It's interesting to note that it took 36 years for the Credit Union to reach its first $10 million in assets and a membership of 12,000. Yet just 14 years later, when the Credit Union celebrated its 50th birthday, assets jumped to $39 million reflecting an increase of nearly 300%. In 2001, Democracy FCU surpassed the $100 million mark in assets.  

 The Credit Union presently operates out of 5 offices:

  • Humphrey Branch - Hubert H. Humphrey Building (HHS) - Washington, D.C.
  • C Street Branch - Washington, D.C.
  • Philadelphia Public Ledger Branch
  • Silver Hill Branch - District Heights, MD
  • Alexandria Branch - Alexandria, VA
  • Executive Offices, also located in Alexandria, VA, house our member services, credit card, lending, accounting, and marketing departments.

The Value of Credit Union Membership

Credit Unions offer consumers an alternative to stockholder-owned banks and other for profit financial services institutions. Democracy FCU is owned by the members who have deposited funds into the credit union. As a not-for-profit financial services cooperative we exist to help our members succeed financially. Our earnings are used to offer members lower loan rates, competitive investment rates, financial education and a staff committed to service.

Democracy FCU Leadership

Board of Directors

  • Patricia Ellis, Chairman
  • Lolita Priestly McLean, Vice Chairman
  • Samantha Ferbish, Secretary and Treasurer
  • Lester Austin, Member
  • Barbara Hunt, Member
  • Lynda Perez, Member
  • Armando Savet, Member
  • Donna Scott, Member
  • Edward Stoffle, Member

The Executive Team

  • Ken Cahoon, President/CEO
  • Gloria Bowden, Executive Vice President
  • Jennifer Womack, Vice President - Finance
  • Andrena Smith, Vice President - Operations 
  • Mario Mejia, Vice President - Delivery Channels

Supervisory Committee

  • Barbara Hunt, Chairman 
  • Beatrix Fields, Member
  • Batina Wills-Washington, Member

The Democracy FCU Mission

Mission Statement

Democracy Federal Credit Union is committed to building lasting relationships by exceeding our member's expectations with every interaction, every time, by delivering passionate service with a smile.

Our Core Values

Our core values are focused on member service and service to our community. This is who we are.

  • Passion: Democracy FCU is driving in heart and mind to go the extra mile for our work, our members, and each other. 
  • Integrity: We do what we say we are going to do. 
  • Positive Attitude: Democracy FCU has the state of mind that envisions and expects phenomenal results. 
  • Collaboration: Democracy FCU works together across boundaries to meet the needs of our members – nothing else matters. 
  • Commitment: Democracy FCU has relentless belief in our mission that translates into daily action. 
  • Ownership: Democracy FCU takes pride and responsibility for the work that we do – it is a reflection of us, our team, and the members who we serve.

Member Education

Democracy Federal Credit Union is committed to helping you succeed financially by offering financial education to our members through one-on-one counseling efforts, seminars and financial education programs geared to youth and adults. 

Involvement/Governance

Democracy Federal Credit Union will preserve credit union democratic principles, including demographic representation and volunteer participation in credit union activities.

Diversity

Democracy Federal Credit Union recognizes the value of demographic diversity in staff as well as in volunteers, and will strive to bring people of diverse backgrounds and experiences into leadership and other roles at the credit union.

Commitment to the Credit Union Movement and other Cooperative Activities

Democracy Federal Credit Union works to build and strengthen our unique credit union movement by providing financial and in-kind resources to others within the credit union community, and by actively advocating the credit union difference at all levels of the government and in other appropriate public forums.