December 9, 1953, nine inspired workers at Allied Chemical & Dye Corporation hit upon a better way to save and borrow money. Their idea blossomed into the Morristown Federal Credit Union, a member-owned, not-for-profit financial cooperative serving Allied employees in the State of New Jersey. This association was to give many employees and their families some unique financial opportunities. With the perseverance and dedication of many members, volunteers, and the loyalty, confidence and trust of all our members, the credit union has grown from a startup membership of nine in 1953, to nearly six thousand members today with assets in excess of $50 million. There is a great deal to be proud of!
From the conception of our credit union, the focus has been to provide our members with quality financial products and services in a friendly, but professional manner. Initially, we offered only the bare minimum of financial services, but over the years, we have continued to offer new products and services to provide even more opportunities for our members -- Share Draft Checking Accounts, a LOW interest VISA credit card, ATM cards, Audio Response, Home Banking, First Mortgages and Home Equity loans, to name just a few. We are constantly evaluating new products and services that can benefit our members.
We are proud of our growth, but without member support we could never have made it this far. Helping people is what Morristown Federal Credit Union is all about -- confidential, professional, person-to-person service. We want to help you and your family to satisfy your financial needs by serving as your one-stop financial resource. Our management team and staff are commited to the long-standing credit union philosophy of "People Helping People", which we practice on a daily basis.
We cordially invite all of you to join the credit union and pass the good news of credit union membership on to your family. We would like to thank all of our members, and the credit union staff, volunteers and Board of Directors for their continued support. Last but not least, we owe a great deal of our success to the ongoing sponsorship of Honeywell. We look forward to continued success for all of us.