Question 1

What is Truliant Federal Credit Union?

Accepted Answer

Truliant Federal Credit Union is a not-for-profit community financial institution headquartered in Winston-Salem, North Carolina. With over $5.2 billion in assets and more than 334,000 members, Truliant serves communities across North Carolina, South Carolina, and Virginia through more than 35 branch locations.

As a member-owned cooperative, Truliant operates under the philosophy of "people helping people," reinvesting profits directly into member benefits rather than distributing them to shareholders. The credit union offers comprehensive financial services to individuals and small businesses throughout the Carolinas and Virginia region.

Question 2

When was Truliant Federal Credit Union founded?

Accepted Answer

Truliant Federal Credit Union was chartered in May 1952 as Radio Shops Credit Union to serve employees of Western Electric in Winston-Salem, Greensboro, and Burlington, North Carolina. Fred Sarda led a group of employees to form the financial cooperative, which began serving approximately 2,000 members.

The credit union underwent several name changes reflecting its evolving membership: it became North Carolina Works Federal Credit Union in 1954, then AT&T Family Federal Credit Union in 1983 following the Bell System breakup. In 1999, the credit union adopted the name "Truliant," blending the words "true" and "reliant" to reflect its commitment to members.

A significant milestone occurred in 2004 when Truliant merged with Victory Masonic Credit Union, the oldest historically African-American credit union in North Carolina, strengthening its community ties and expanding its service to diverse populations.

Question 3

Where is Truliant Federal Credit Union headquartered?

Accepted Answer

Truliant Federal Credit Union is headquartered at 3200 Truliant Way in Winston-Salem, North Carolina. The credit union's main campus features a distinctive 52-foot obelisk mimicking sun rays, symbolizing its longstanding commitment to members.

In January 2023, Truliant expanded its Winston-Salem presence by opening a 154,000-square-foot operations center in the former Macy's space at Hanes Mall. This facility houses over 200 employees in call center and operational departments across multiple floors.

Question 4

Where does Truliant Federal Credit Union operate?

Accepted Answer

Truliant operates throughout North Carolina, South Carolina, and Virginia with more than 35 branch locations. The credit union serves members in numerous counties including Alamance, Cabarrus, Forsyth, Guilford, Mecklenburg, and Rowan in North Carolina; Greenville County in South Carolina; and Pulaski, Russell, Smyth, Washington, and Wythe counties in Virginia.

Membership eligibility is broad and includes individuals who live, work, worship, or attend school in eligible counties near branch locations, employees of partner companies, immediate family members of current members, and residents of North Carolina, South Carolina, Virginia, Georgia, or Tennessee who join through the American Consumer Council.

Question 5

What services does Truliant Federal Credit Union offer?

Accepted Answer

Truliant provides comprehensive financial services for both personal and business banking needs:

Deposit Accounts: Share savings accounts (with a $5 minimum membership requirement), checking accounts, money market accounts, and certificates of deposit with terms ranging from 3 to 60 months starting at $250.

Lending Products: Auto loans, home mortgages with electronic closing capabilities (easyClose in North Carolina), home equity loans, personal loans, credit cards (including VISA Platinum Rewards), and Small Business Administration (SBA) loans for entrepreneurs.

Digital Banking: Award-winning mobile app compatible with iOS 16+ and Android 12+, featuring mobile check deposit, bill pay, fund transfers, loan applications, and account management. Online banking platform with integrated money management tools, Quicken and QuickBooks connectivity, and digital document access.

Additional Services: Truliant Financial Advisors for retirement planning and investment services, business banking services including payment processing, insurance products, bilingual representatives, and financial education resources through their Money Burst video series.

Question 6

What makes Truliant Federal Credit Union unique?

Accepted Answer

Truliant distinguishes itself through several unique characteristics:

Historical Significance: The credit union played a pivotal role in credit union law. In the 1990s, the American Bankers Association sued AT&T Family Federal Credit Union for expanding membership to 150 employee groups. The case reached the U.S. Supreme Court, which ruled 5-4 against the credit union in 1998. However, President Bill Clinton subsequently signed legislation allowing credit unions to serve multiple groups, fundamentally changing credit union law nationwide.

Member-Centric Philosophy: As a not-for-profit cooperative, Truliant focuses on providing guidance rather than pushing products. The institution emphasizes personalized service, maintaining face-to-face interactions while offering cutting-edge digital capabilities that rival national banks.

Community Investment: Truliant actively invests in financial education and literacy programs, offering free financial guidance to help members achieve their goals. The credit union's merger with Victory Masonic Credit Union in 2004 demonstrates its commitment to serving diverse communities and preserving important historical institutions.

Technology Leadership: Under CIO Sandeep Uthra's leadership, Truliant has implemented advanced digital ecosystems using microservices and APIs to create personalized member experiences while maintaining the human touch that defines credit union service.

Question 7

What type of financial institution is Truliant Federal Credit Union?

Accepted Answer

Truliant is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA) under charter number 7840. All deposits are federally insured up to $250,000 per account by the NCUA, providing the same level of protection as FDIC insurance at traditional banks.

As a federal credit union, Truliant operates as a member-owned financial cooperative where each member becomes a co-owner upon opening an account. The credit union maintains a not-for-profit structure, meaning earnings are returned to members through better rates, lower fees, and enhanced services rather than distributed as profits to external shareholders.

Membership requires maintaining a Membership Savings Account with a minimum $5 balance, which represents each member's ownership share in the cooperative. Todd Hall serves as President and CEO, leading the institution since January 2020.

Truliant Federal Credit Union

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About Truliant Federal Credit Union in the United States