Question 1

What is Georgetown University Alumni and Student Federal Credit Union (GUASFCU)?

Accepted Answer

Georgetown University Alumni and Student Federal Credit Union (GUASFCU) is a federally chartered credit union headquartered in Washington, D.C., serving the Georgetown University community. With approximately $12.7 million in assets and over 4,100 members as of 2025, GUASFCU holds the distinction of being the oldest and largest entirely student-run financial institution in the world.

The credit union operates entirely through Georgetown University undergraduate student volunteers, from tellers to the CEO, with over 150 student interns managing daily operations. This unique operational model provides practical business experience to students while delivering affordable financial services to the Georgetown community.

Question 2

When was Georgetown University Alumni and Student Federal Credit Union (GUASFCU) founded?

Accepted Answer

GUASFCU was chartered with the National Credit Union Administration on February 9, 1983, originally as Georgetown University Student Federal Credit Union. The credit union was founded by four Georgetown students—Alyce Russo, Len Schoppa, Kyle Stevenson, and a fourth founding member—who recognized the need for better banking options for the campus community beyond Riggs Bank, which was the only on-campus option at the time.

George Houston, Georgetown University's treasurer at the time, supported the initiative by securing an initial $100,000 investment from the university. The credit union originally opened on the second floor of the O'Gara Building before its demolition in 1984, later relocating to the Leavey Center where it continues to operate today. In 1994, the name was officially changed to include "Alumni" to emphasize the importance of alumni to its membership base and long-term sustainability.

Question 3

Where is Georgetown University Alumni and Student Federal Credit Union (GUASFCU) headquartered?

Accepted Answer

GUASFCU is headquartered in Washington, D.C., specifically at 3700 O Street NW, Leavey Center, Suite 1328, on the Georgetown University campus. The branch is conveniently located in the Leavey Center between the university bookstore and Vital Vittles.

During the academic year, the branch maintains extended hours, operating six days a week until 6:30 PM to accommodate student schedules. Hours are variable during breaks and summer sessions, though representatives remain available via phone and email except on federal banking holidays.

Question 4

Where does Georgetown University Alumni and Student Federal Credit Union (GUASFCU) operate?

Accepted Answer

GUASFCU operates primarily on the Georgetown University campus in Washington, D.C. The credit union's field of membership is defined by its charter with the National Credit Union Administration and includes:
• Current Georgetown University students
• Georgetown University alumni
• Immediate family members of current students and alumni

While physically located on campus, GUASFCU serves members nationwide through its digital banking platforms and partnerships. Members have access to over 43,000 surcharge-free ATMs through the Allpoint ATM network across all 50 states and internationally, in addition to two GUASFCU-branded ATMs located on the Georgetown campus.

Question 5

What services does Georgetown University Alumni and Student Federal Credit Union (GUASFCU) offer?

Accepted Answer

GUASFCU provides a comprehensive suite of financial services tailored to students and alumni:

Deposit Accounts: Share savings accounts (with a $10 minimum deposit representing member ownership), checking accounts, and certificates of deposit.

Lending Products: Auto loans (primarily targeted at alumni), personal loans, student loans for undergraduate and graduate studies, student loan refinancing, and a unique secured credit builder program that helps students establish credit with no risk.

Digital Banking: Mobile app with biometric login, online banking platform with personal finance management tools (net worth tracking, spending analysis, budgeting), mobile check deposit, external account linking, Apple Pay and Google Pay integration, and wire transfer capabilities.

Member Benefits: GUASFCU Rewards program offering discounts up to 30% at local restaurants and retail partners (including The Tombs, Domino's, Bluestone Lane, Pinstripes, and others), surcharge-free access to the Allpoint ATM network, and live customer service without automated phone menus.

Additional Services: Joint accounts for campus organizations and clubs, recurring transfers, financial literacy programs including the ₵ommon $ense series for graduating seniors, and community philanthropic support.

Question 6

What makes Georgetown University Alumni and Student Federal Credit Union (GUASFCU) unique?

Accepted Answer

GUASFCU's most distinctive feature is its entirely student-run operation. Every employee, from entry-level tellers to the CEO and all executive positions, is a Georgetown undergraduate student. This makes GUASFCU the largest entirely student-run financial institution in the world by both assets and membership.

The credit union operates with over 150 student interns who receive practical business and financial services experience while serving their community. Despite being run by students, GUASFCU maintains professional standards and regulatory compliance under NCUA supervision, with an advisory board of professors and former credit union executives that meets annually.

GUASFCU demonstrates strong commitment to financial education through its George Houston Fund Committee, which hosts financial literacy series on campus covering topics like FICO scores, credit card selection, and budgeting. The credit union has also created innovative programs like the Reimagine Georgetown Partnership (launched in 2011 with The Corp and The Hoya), which provided grants of $500 to $10,000 for innovative campus projects.

The credit union's community engagement extends to philanthropic support for events including Relay For Life, Run 4 Rigby, Georgetown Rangila, and the John Thompson III Foundation. Following the September 11 attacks, GUASFCU matched member donations to the Red Cross, demonstrating its commitment to community service beyond traditional banking.

Question 7

What type of financial institution is Georgetown University Alumni and Student Federal Credit Union (GUASFCU)?

Accepted Answer

Georgetown University Alumni and Student Federal Credit Union is a federal credit union, chartered and regulated by the National Credit Union Administration (NCUA), an independent agency of the U.S. federal government. Member deposits are federally insured by the NCUA up to $250,000.

As a credit union, GUASFCU operates as a not-for-profit financial cooperative owned by its members. Each member who opens a share savings account with the minimum $10 deposit becomes a partial owner of the credit union. This cooperative structure allows GUASFCU to return value to members through competitive loan rates, higher savings rates, and lower fees compared to traditional banks.

Membership is restricted to individuals sharing the common bond defined in the credit union's charter: current Georgetown University students, Georgetown alumni, and immediate family members of students and alumni. This affinity-based membership model allows GUASFCU to tailor its products and services specifically to the unique financial needs of the Georgetown community while maintaining the credit union philosophy of "people helping people."

Question 8

How has Georgetown University Alumni and Student Federal Credit Union (GUASFCU) grown over time?

Accepted Answer

GUASFCU has experienced significant growth since its 1983 founding. The credit union started with a $100,000 investment from Georgetown University and has grown to over $12.7 million in total assets as of 2025. Membership has expanded from serving only students to including alumni and their families, growing to over 4,100 members.

Notable milestones include reaching $12.4 million in assets by 2009, growing to over $16 million with more than 10,000 members by fall 2010, and peaking at over $18 million in assets by spring 2021. The credit union successfully competed with the arrival of a PNC Bank branch on campus in 2009, maintaining and growing its member base through superior service and student-centric products.

GUASFCU was an early adopter of technology, offering debit cards to members shortly after founding through an affinity agreement with MBNA (founded in 1982 by Georgetown alumnus Charles Cawley). The credit union continues to invest in digital innovation, implementing modern mobile banking with features like biometric authentication, digital wallets, and comprehensive personal finance management tools.

The credit union has maintained its entirely student-run operational model for over 40 years, providing generations of Georgetown students with hands-on financial services experience while serving their community with professionalism and dedication.

Georgetown University Alumni and Student Federal Credit Union (GUASFCU)

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About Georgetown University Alumni and Student Federal Credit Union (GUASFCU) in the United States