Our financial institution was originally incorporated as the “Employees Mutual Savings Building and Loan Association” (EMSBLA) on April 12, 1914. The institution was organized by the executives to serve employees and retirees of the Milwaukee Electric Railway and Light Company, later known as Wisconsin Electric Power Company for “the purpose of promoting thrift among its members and to encourage homeownership”. Over the years the charter has been expanded, but still maintains the relationship with Wisconsin Energy Corporation and its affiliates and subsidiaries.
In November of 1997, the board voted to change the institution to a credit union as “EMSBLA Credit Union”. The catalyst for this change was the savings and loan was still an uninsured institution, so the board decided that rather than obtaining an insured status as a savings and loan, the credit union charter was a better fit reflecting the mutual charter and volunteer board of directors. In October of 2007 the name of the credit union was changed to “Empower Credit Union.” In October of 2011 the credit union built its headquarters in West Allis, while still maintaining a branch in the We Energies headquarters in downtown Milwaukee.
In 2001 expanded family members to include “immediate family” to the Field of Membership (FOM.)
In 2004, the FOM was expanded to include grandchildren, parents, children, grandparents, and similar domestic relationships of members.
In 2011, the FOM was expanded to include members of the Wisconsin and Michigan chapters of the International Brotherhood of Electrical Workers (IBEW).
In 2012, the FOM was expanded to a geographic charter as described: “individuals who live or work within a five-mile radius of an Empower Credit Union location.
In 2014, the FOM was expanded to include all individuals who live or work in Milwaukee, Waukesha, Washington, and Racine counties.
Empower Credit Union has been involved in one merger in 1998: Energy Family Credit Union, a credit union also associated with Wisconsin Energy Corporation.