Discover our Roots
In 1930, a vision took root – a vision that grew into what we proudly call Accentra Credit Union today. Born as the Hormel Employees Credit Union, we set out to redefine finance, embracing the power of unity and community.
Our journey began in 1930 with a vision rooted in community and guided by strong core values. Explore the evolution of ACU as we trace our steps back to the beginning and witness how we've grown, always staying true to the seven core values that have been the foundation of our success.
Founded on the principle of cooperative banking, Accentra emerged from a shared commitment to provide financial empowerment to its members. Our story is one of resilience, innovation, and a steadfast dedication to the communities we serve. Learn about the pivotal moments and milestones that have shaped us into the trusted financial institution we are today.
At the heart of our credit union are the seven core values that define our character and guide our every decision. These values aren't just words; they represent the essence of Accentra Credit Union. Explore how Accountability, Commitment & Passion, Community Enrichment, Integrity & Honesty, Member Centric, Respect, and Trust have been woven into the fabric of our history, driving us to continually evolve and elevate the banking experience for our members.
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![The Accentra Credit Union (Hormel Employees Credit Union) opened on December 1, 1930 and was located in the Hormel Plant. This photo was taken in 1950 when there were six staff members and total assets reached $2 million.]()
The Accentra Credit Union (Hormel Employees Credit Union) opened on December 1, 1930 and was located in the Hormel Plant. This photo was taken in 1950 when there were six staff members and total assets reached $2 million.
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![Groundbreaking for the 1962 Accentra Credit Union (Hormel Employees Credit Union) building. This was the first physical location outside of the George A. Hormel Company. The land for this building was purchased for $4,000.]()
Groundbreaking for the 1962 Accentra Credit Union (Hormel Employees Credit Union) building. This was the first physical location outside of the George A. Hormel Company. The land for this building was purchased for $4,000.
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![In January 1984, Accentra Credit Union (Hormel Employees Credit Union) held groundbreaking ceremonies for what is our present-day Austin location.]()
In January 1984, Accentra Credit Union (Hormel Employees Credit Union) held groundbreaking ceremonies for what is our present-day Austin location.
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![The 1999 groundbreaking for the remodel of Accentra Credit Union's current location.]()
The 1999 groundbreaking for the remodel of Accentra Credit Union's current location.
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![The 2005 groundbreaking for the Albert Lea branch of Accentra Credit Union. Shown here are Darlene Thaisen, Mike Case, Kim Schroeder, David Kubat, Lon Krueger, David Raffelson, Aaron DeJong, Gordy Kuehne and John Gray.]()
The 2005 groundbreaking for the Albert Lea branch of Accentra Credit Union. Shown here are Darlene Thaisen, Mike Case, Kim Schroeder, David Kubat, Lon Krueger, David Raffelson, Aaron DeJong, Gordy Kuehne and John Gray.
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![Accentra Credit Union's Albert Lea branch shown here in 2008.]()
Accentra Credit Union's Albert Lea branch shown here in 2008.
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![Accentra Credit Union's Austin location in 2008. Total assets were over $101 million.]()
Accentra Credit Union's Austin location in 2008. Total assets were over $101 million.
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![A CU member with tellers in the 1960's.]()
A CU member with tellers in the 1960's.
On November 26, 1930 the initial meeting of the Hormel Employees Credit union was held in the Hormel Foods plant cafeteria. The Board of Directors set the entrance fee at 25 cents and the interest rate on unpaid loan balances was fixed at 1% per month. The maximum loan amount was $50.
The Hormel Employees Credit union opened for business on December 1, 1930. A year later in 1931 they held the 1st Annual Meeting and held a motion to join the Minnesota State Credit Union League.
14 years later in 1945, the Hormel Employees Credit Union reached $1,000,000 in assets. In June of 1962 they purchased 2 lots on 4th Street NE (Water Street), for $4,000, and in the next year operations began from the new Credit Union building.
HECU began using the IBM computer system in 1966 and in 1967 total assets hit $10,000,000. Still in 1971, 41 years after inception, the entry fee to become a member remained at 25 cents. In 1978, total assets hit $25,000,000. HECU celebrated it’s 50th Anniversary in 1980.
In 1984, Ground Breaking and Grand Opening ceremonies were held for the current Austin branch location. The VISA program was offered to members beginning in 1986 and an ATM was installed in the CU lobby in 1991.
Advancements continued in 1993 when PC-based teller systems went online and cash dispatch machines for the drive-thru area were installed. Debit cards became available to members in 1997 and direct deposit was an option beginning in 1998.
ATM’s were brought into Hormel Foods plant locations and the Hormel Foods Corporate office in 1999 to bring more convenience to Hormel employees.
Growth really began to happen in 2002 when the Board of Directors approves a by-law amendment to expand membership to a community charter to include Mower, Freeborn, Olmsted, and Winona counties. That meant anyone living, working or worshiping in those counties could now become a member of the credit union, even if they weren’t employed by Hormel Foods.
Hormel Employees Credit Union officially changes its name to Accentra Credit Union on March 9, 2004. With the expansion to a community charter, Accentra expands from Austin to Albert Lea, MN. The new Albert Lea branch opened in 2006.
A celebration of 85 years of service to our members and communities commenced in 2015.
Accentra expands their charter again to include Dodge, Houston, Fillmore, and Steele counties in 2020. With that expansion, Accentra decides to open the 1st credit union in Dodge County, in Kasson, MN, and they opened their doors in 2021.