Star One Credit Union
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History

The Lockheed Missile Employees Federal Credit Union was chartered in October 1956 to serve employees of the new Lockheed Missiles and Space Division in Sunnyvale, California. Our doors opened in January 1957 when 1,350 member accounts were transferred from the Lockheed Aircraft Employees Federal Credit Union in Burbank.

  • We moved to our Sunnyvale (then 166 8th Avenue) location in September 1969, and in 1971 became one of the first federal credit unions to qualify for federal share (deposit) insurance. By the end of 1971 we had 22,225 members, total assets of $92 million, and total loans of $58 million.
     
  • By 1980 we had our own in-house computer system, enabling Star One to become a full-service financial institution. Over the next few years we introduced share draft (checking) accounts, credit and home-equity lines, IRAs, Certificate accounts, longer-term first mortgage loans, ATMs, Touchtone Teller service and VISA credit cards.
     
  • On our 25th anniversary in 1981, our name was changed from Lockheed Missiles Employees Federal Credit Union to LMSC Federal Credit Union and our Austin, Texas branch opened in September 1982. In December, our assets reached $200 million. At year-end 1985, assets were $435 million, loans were $217 million and we had 43,153 members.
     
  • In 1986 we nearly doubled the size of our Sunnyvale office building. A short time later we introduced VISA Gold credit cards and expanded ATM service. In 1993 the Board changed our field of membership, allowing the Credit Union to provide membership to Select Employee Groups (SEGs) outside the Lockheed Martin community.
     
  • In 1995 we changed our name from LMSC Federal Credit Union to Star One Federal Credit Union. Assets surpassed $1 billion for the first time. In 1996 we introduced Online Banking via the Internet. By the end of 1998, assets were $1.6 billion, loans were $408 million and we had 55,632 members. In 2001 we became state chartered, and our name formally changed to Star One Credit Union.
     
  • In 2002, our Austin branch celebrated its 20th anniversary. In addition, the need for more space in Sunnyvale was finally solved with the purchase of our Administrative Building.
     
  • In 2003, we opened our branch in Cupertino, California. In April 2004 we introduced Bill Pay within the Online Banking interface.
     
  • In 2006 we celebrated our 50th anniversary, with Star One growing into the largest credit union based in Santa Clara County and the 17th largest in the nation. We had more than 72,000 members worldwide. At this time we also opened our San Jose branch on Blossom Hill Road, while closing our branch in Austin.
     
  • We continued our new branching effort in 2007 with the opening of the El Camino Branch in Palo Alto, California and in 2008 relocated the 8th Avenue branch to Enterprise Way and relocated many employees to our Administrative Building. Now with four retail branches throughout Santa Clara County, our ATM and Shared Branch networks nationwide, as well as full-service Online Banking, Star One members can access their accounts easily and conveniently.
     
  • In 2010 we opened our 5th branch! The San Jose - Stevens Creek branch is located at 3136 Stevens Creek Blvd.

Today, Star One Credit Union is a full-service financial institution with assets exceeding $7.1 billion and more than 92,000 members. We provide a variety of services that are convenient and responsive to member needs. With the strong member support we receive, Star One Credit Union will continue to prosper and meet the future financial needs of its members. Our mission is to help our members improve their lives by delivering valuable financial services.

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