Celebrating 82 Years of Service


As the oldest financial institution in the Keys, Keys Federal Credit Union has helped generations of locals build wealth and save money. Founded by locals in 1940 and located throughout the Keys with six branches, Keys Federal Credit Union is a not-for-profit financial institution with a local volunteer board of directors. Our story begins when 9 civil service workers from Naval Air Station Key West pooled $110 in a cigar box or an average of $12 apiece to help the people in their community who needed loans. $110 equates to about $2,191 today.

Today Keys FCU is still focused on Locals helping Locals but garnishes local, regional, and national attention for its sound business practices, financial education initiatives, and dedication to the community. How does Keys Federal Credit Union earn these designations? According to Maggie Sayer, President & CEO of Keys Federal Credit Union, “As locals ourselves, we try to respond to what our community needs. We’ve expanded our products and services and even our brick-and-mortar branches to serve the community further while also investing in the technology that makes those services convenient.”

Little did our founders know that they were beginning what is now an 82-year-old not-for-profit financial institution that still serves people who live and work in the Florida Keys.


Building Our Foundation

In the late 1930s thousands of Civil Service workers came to Key West to reopen our military bases and update our infrastructure. At the time there was only one bank, for business accounts, in Key West. To fill the community’s need for affordable financial services for people, our founders pooled their resources and opened NavSta Federal Employees Federal Credit Union, to serve federal employees in the Lower Keys, on October 26, 1940.

Today there are 5 military bases in the Lower Keys that incorporate approximately 5,000 service members, their families and civilian employees.

Workmen from a bygone era on a bridge over water installing electrical poles

Photo courtesy of the Monroe County Library and the U.S. Navy.
Pictured: Workmen installing the Navy waterline during WWII


Remembering Our Roots

NavSta Federal Employees Federal Credit Union (FEFCU) was created by 9 Civil Service employees who pooled $110 together in a cigar box to help the Key West community prosper. From the beginning “locals helping locals” has been our mission. We succeed by investing in our community through financial education, and helping you save money with affordable financial services.

Former members of the Board of Directors posing together in front of a framed portrait over three decades ago.

Long-term and former volunteer Board of Directors members in 1990.
Standing L to R: Max Foster, Gretna McClain, Francis Delaney and James McManus
Seated L to R: Charles Machin and Eugene Fabal


Cooperating For Success

Like all businesses, we had our share of losses. In the late 1940s we made some mistakes that almost closed the credit union. Fortunately, the Keys community came together, and a local car dealer donated the first new car he was shipped after the war for us to raffle. Our Board was able to raise $8,000 with the raffle and save the credit union for future generations!

We believe in “locals helping locals” because, like you, we live and work here too! It takes a village to succeed in the Keys.

Man in a tie standing next to a vintage car playing with a dog while holding a glass

Photo courtesy of the Monroe County Library and the Collection of Rosalie and Bascom Grooms, Sr.
Pictured: Bascom Grooms, Sr. and Nippy


Working As A Team

As a cooperative financial institution, we use the money in savings accounts to make loans. Fortunately, our cooperative spirit was alive and well in 1941, when we loaned out all but $75 of our members’ savings. That day several members came in to borrow $25 each. Luckily, another member was there to deposit $100! His deposit gave us enough money to make all the loans! That’s how credit unions work, we pool our money together to help each other.

In 1940:

  • Truman Ave. was called Division St.

  • Apartment rent averaged $20 a month

  • The Key West Citizen cost .05 cents

Tipoff in a basketball game in front of fans in Douglas Gym. Two players extend their arms to compete for the ball while both teams look on.

Photo courtesy of the Monroe County Library and Don Pinder
Pictured: Basketball game at Douglas Gym circa 1963.


Appreciating Our Volunteers

NavSta Federal Employees Federal Credit Union did not have paid employees. We were fully staffed by volunteers. County Commissioner and Mayor Emeritus Monroe County Wilhelmina Harvey was a long time member and volunteer on our Board of Directors. She also served as our Treasurer in the 1940s, managing the credit union finances from a cash box in her desk drawer, because we didn’t have branches yet.

Wilhelmina Harvey presents a conch shell to Her Majesty the Queen Elizabeth while His Royal Highness Prince Philip looks on

Her Majesty the Queen is presented a Queen Conch Shell by Wilhelmina Harvey at the Dry Tortugas on May 08, 1991. His Royal Highness, The Duke of Edinburgh is pictured on the right.
Photo courtesy of the Monroe County Library, The Wilhelmina Harvey Collection.


Saluting Our Military

In 1958 the Secretary of the Navy and local military leaders wanted their squadrons to benefit from the affordable financial services offered at our credit union too. NavSta FEFCU mobilized to open its doors to military personnel. Our volunteer employees visited each base on payday to pick up member’s deposits.

In January 1959, NavSta Federal Employees FCU opened its membership to over 10,000 active military personnel and their families in Key West.

Group of marines in dress uniforms stand at attention

Photo courtesy of the Monroe County Library
Pictured: A group picture of Marines taken in front of the Key West Marine Barracks.


Expanding Our Reach

To better reflect our community, we became Navy KWest Federal Credit Union in 1960. Our field of membership grew to include local military personnel and everyone who lived or worked south of the Seven Mile Bridge and their extended family members.

Today, your savings at Keys FCU are federally insured up to $250,000 by the NCUA.

Faded vintage sign for Navy KWest Federal Credit Union

This sign was located at our Truman Annex branch across from the Marine Barracks in 1960.


Adapting To Change

In the 1970s our local economy changed, the military closed the Key West Submarine Base and reduced the number of local military personnel. We adapted to these changes by becoming a community-based credit union and offering affordable financial services to everyone who lived or worked south of the Seven Mile Bridge, their extended family out of town, and our local military community.

Keys FCU supports our local military with over $14,000 a year in sponsorships and contributions.

A crane lowers a large metal sign for the Harry S Truman Annex at the Naval Air Station Key West over 2 classic pickup trucks

Photo courtesy of the Monroe County Library and the Ida Woodward Barron Collection.
Pictured: The Harry S. Truman Annex sign being erected over the entrance to the former Naval Station Key West 1975.


Investing In Membership

In 1978 to serve our growing membership, we opened a tiny office in an old guard shack in Peary Court. The location was so small, that lines of members spilled out the door. These lines attracted a lot of attention and ironically even more new members. People couldn't wait to get inside to save money!

Our membership fee has remained $5.00 since 1978! That’s a value of $19.87 in today’s money. Even with our investments in technology and fee services, it’s still only $5.00 to join.

#MembershipisREWARDING

Street view of Peary Court Navy Housing in the 1970s

Photo courtesy of the Monroe County Library
Pictured: Peary Court Navy Housing circa 1970.


Embracing New Technology

The early 1980s brought new life to our credit union. We began using our very first computer system and offered checking accounts for the first time in 1981. We even designed our new Peary Court branch with our first drive thru lanes and a 24-hour ATM!

We celebrated the Grand Opening of our Peary Court branch on February 7, 1985. Prizes included a color television and a home computer with printer.

Brightly colored architectural rendering of the Peary Court branch

Architects rendering of our Peary Court branch which opened in 1985.


Growing To Serve You

In 1985, we signed a 25 year lease with the Navy for our main office in Peary Court. Navy KWest Federal Credit Union held a Grand Opening Ceremony with all our employees, founding members, military leaders, and local officials in 1986! Do you recognize anyone in this photo?

In December 1985, Keys FCU offered New Auto Loans and Mortgages from 11.5% APR, Used Auto Loans from 14%APR , and Personal Loans from 15%APR*.

*Annual Percentage Rate

Large group poses to celebrate the Navy KWest Federal Credit Union grand opening

Honoring Our Pioneers

At our 50th Anniversary in 1990, then President George A. Hammerton honored our founders and volunteers by saying: “Without the dedication and hard work of volunteers, credit unions like Navy KWest would not be in existence. It is because of their work, and because of the loyalty of all our members that we are here today.” Mr. Hammerton then recognized long time employees and financial pioneers Mrs. Lena Gamble and Mrs. Ingrid Ford for serving the credit union since 1966.

NavSta Federal Employees FCU did not have paid employees or branches. We were staffed by volunteers who worked from their homes until Mrs. Gamble and Mrs. Ford were hired in 1966.

President George A. Hammerton stands between Lina Gamble and Ingrid Ford

Pictured L to R: Isolina (Lina) Gamble, President George A. Hammerton, and Ingrid Ford.


Connecting The Keys

In 1993 we became Keys Federal Credit Union to offer affordable financial services throughout the Keys. Our membership expanded to include everyone who lives or works in the Florida Keys, their extended family, our local military, businesses and non-profit organizations. Unlike other financial institutions, we’ve only changed our name to better represent the community we serve, not because we were bought, merged, or sold.

In 1990, CUNA and the Florida Credit Union League selected Navy KWest Federal Credit Union as the winner of the Dora Maxwell Award for Social Responsibility for our community volunteer and sponsorship initiatives.

Arial view of the old Overseas Highway Seven Mile Bridge

Photo courtesy of the Monroe County Library and the DeWolfe and Wood Collection.
Pictured: Overseas Highway Seven Mile Bridge and Pigeon Key by the State of Florida Development Commission on December 8, 1964.


Thanking Our Members

We invited the entire Keys community to our 60th Birthday Bash in Bayview Park on September 30, 2000! Everyone had a chance to win fabulous prizes, enjoy live music, and fill up on food and drinks. The cake was cut by former Treasurer Wilhelmina Harvey and CAPT. Larry Cotton, Commanding Officer of NAS Key West.

Commanding Officer of NAS Key West CAPT. Larry Cotton cuts a cake next to Wilhelmina Harvey
 
 

Millennials were born during our 60th year of service. We’re thankful to them for helping us introduce and adapt to the technology Keys FCU members use to manage their accounts around the world today; mobile apps, smartphones, social media and electronic transfers.


Our 75th Anniversary Celebration

In celebration of our 75th year of service to the Keys, we held multiple member appreciation events in our branches and introduced new debit cards with an original painting by Keys FCU’s Andy Thurber. We also distributed new EMV Chip Debit and Credit Cards to protect members from fraud. To top it off we helped our members save over $2 million through loan refinancing during our 2015 Million Dollar Savings Challenge!

Large Group poses during the Key Plaza celebrations

Key Plaza branch celebrations.

 
Two ladies present a cake
Four people pose around a cake

Our Southard Street and Marathon teams posted a collage of historical photos donated by members and treated members to cake and Keys FCU goodies as part of our celebration.


Proclaiming Keys FCU Day

The Key West City Commission proclaimed October 26, 2015 as Keys Federal Credit Union Day in honor of the 75 years Keys FCU has served the community with affordable financial services. Keys Federal Credit Union’s President & CEO Scott Duszynski said; “Thank you to all the residents of Keys West and Monroe County, we will continue to be here for years to come to support everyone within our community.”

Keys FCU contributed over $40,000 to the Keys community, including the United Way of the Keys, The Florida Keys SPCA (SHARK), and Womankind during our 75th Anniversary Celebration.

 
The people pose with a plaque

Pictured L to R: Mary Lou Carn Marketing Director, Scott Duszynski President & CEO, and Craig Cates Mayor of the City of Key West.


Branching Out To Serve You

Keys Federal Credit Union is excited about opening our 5th branch on Stock Island at the corner of U.S. 1 and Macdonald Ave.! Our new branch is located where Sinclair’s Auto Shop is in the undated photo of Stock Island below. We’re excited to bring more convenience to our Stock Island and Lower Keys members!

Arial view of Stock Island circa 1960

Photo courtesy of the Monroe County Library and the Cory McDonald Collection.
Pictured: US1 and MacDonald Ave. on Stock Island circa 1960.

 
Two cars parked in front of Keys FCU branch

Keys FCU’s newest branch on Stock Island on the corner of U.S. 1 and MacDonald Ave.


Investing In Marathon

NOW OPEN! Keys FCU is also excited to bring more convenience and savings to Marathon! We’ve opened a NEW Marathon branch that’s conveniently located in the center of town right on U.S. 1 Southbound with the latest technology and plenty of parking.

Keys FCU is proud to serve the Marathon community for over 40 years! Thank you for letting us serve you longer than any other financial institution in the Florida Keys!

 
Architectural rendering of Keys FCU branch in Marathon

Architects rendering of our new branch in Marathon.


Mobilizing to Serve

After enduring multiple hurricanes over the past 80 years, Keys FCU purchased a mobile branch named the “Savings Express” to serve members wherever we are needed. The Savings Express is perfect for supporting community events as a booth space with ATMs. Our mobile branch acts as a self-sufficient back up to our phone center and bank branches during power outages and disaster recovery efforts.

Thank you for making us a local credit union with a global reach! With today’s technology, you can manage your accounts anywhere in the world with Keys online, mobile banking, and card apps.

 
Three people pose next to promotional table

Striving For Excellence

Thank you for helping Keys FCU receive the 2017 League of Southeastern Credit Union’s Credit Union of the Year Award and the National Association of Federally Insured Credit Union’s Credit Union of the Year Award in 2018. We were selected for helping our members save thousands of dollars in interest through refinancing, investing in our community through volunteering and sponsorships, and providing financial education programs that improve everyone’s quality of life.

Two men hold a glass award

Scott Duszynski receives the League of Southeastern Credit Union’s Credit Union of the Year Award in 2017.

Three people pose with a glass award

Maggie Sayer and Scott Duszynski receive the NAFCU Credit Union of the Year Award in 2018.

 
 

Keys FCU also received the America Saves Designation of Savings Excellence Award from 2015-2018 for our Military Saves financial education and savings programs at NAS Key West.


Serving Marathon

Thank you for voting Keys Federal Credit Union the Best Bank in Marathon for four years in a row, 2016-2019, in The Weekly Newspaper’s Best of Marathon Awards. We’re dedicated to serving our members throughout the Florida Keys, either in person or electronically. Locals helping locals is the Keys FCU difference!

Three people pose with plaque

Pictured L to R: Maggie Sayer, Desiree Perez and Dave Peck.

Three people pose with plaque

Pictured L to R: Maggie Sayer, Desiree Perez and Dave Peck.

 
Three people pose with plaque

Pictured L to R: Dave Peck, Desiree Perez and Mary Lou Carn.

Group poses with plaque

Pictured L to R: Claudette MacLaughlin, Silvia Garcia, Sandra St. Onge, Desiree Perez, and Dave Peck.

 
 
Two men pose with glass award

Congratulations also to the Keys FCU local mortgage team. John North in Key West and the Lower Keys (L) and Dave Peck in Marathon and the Upper Keys (R) received the Pinnacle of Excellence Award from Quicken Loans for their excellent service and knowledge in 2019.

 

Volunteering For Your Future

Unlike Banks, Keys Federal Credit Union’s Board of Directors and Supervisory Committee is comprised of volunteers who do not get paid for their service. As members, we owe this esteemed group of local Keys FCU members a debt of gratitude for the time and energy they give to ensure the credit union is financially secure, properly managed, and servicing you to the best of our ability.

Keys FCU’s Volunteer Board of Directors and Supervisory Committee


Leading Into The Future

Today Keys Federal Credit Union serves over 14,000 of your friends and neighbors around the world. We have six full-service branches and convenient electronic services like online banking and mobile banking, free person to person payments, financial management apps, and online financial education programs with more to come! If you live or work in the Florida Keys, you’re invited to become a member and help strengthen our community.

Two people hold Keys FCU banner
Group poses with large novelty check
Group poses with large novelty check
Four people pose with novelty large check
Group poses with large novelty check
Group poses with large novelty check
Three people pose with large novelty check

Thank you for SAVING with us since 1940!