History of South Jersey Federal Credit Union
It was on June 20, 1940 that the organization that we now call South Jersey Federal Credit Union was chartered and established, serving the employees of the former New York Shipbuilding Corporation. The credit union was known in the forties as IUMSWA Federal Credit Union, for the Industrial Union of Marine and Shipbuilding Workers of America.
The name was modernized in 1955 to Shipbuilders Federal Credit Union, giving the credit union its much-desired individual identity. The New York Shipbuilding Corporation closed its doors for good in 1967 and long-time treasurer-manager, George Morhauser, died. Membership declined and the future direction of the credit union was in question.
In 1972 the tide began to turn when the employees of South Jersey Port Corporation were added to the membership, bringing new life to the credit union. In 1973 the name was again changed to South Jersey Maritime Federal Credit Union, reflecting a more open membership. Benjamin T. Griffith became the credit union’s manager in 1974, a position he would hold for over 40 years. Soon after, in 1975, the Delaware River Port Authority (DRPA) and PATCO employees were added, and the course of the credit union would be altered for good. The name was changed for the last time in 1979 to South Jersey Federal Credit Union. In the years that followed, there was a frenzy of mergers and charter changes that accepted hundreds of anxious employee groups.
Today, South Jersey Federal Credit Union is a diverse, full-service financial institution serving more than 45,000 members and over 600 employee groups throughout South Jersey. From its original roots in Camden County, the credit union has expanded its presence all the way to the Jersey Shore. Eight full-service locations include the main office in Deptford, along with branches in the City of Camden, Glassboro, Pennsylvania, Pleasantville, Voorhees, Moorestown and Vineland.