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The Credit Union was formed in 1957 by a group of University of Chicago Faculty and Staff members to provide a source of credit at reasonable rates and to promote thrift within the University community. Over the past 40+ years more than 200 individuals have served on the Credit Union Board during their careers with the University. A listing of the current Board and Officers can be found on the Information Desk page. 

The Credit Union is a separate corporation operating under the supervision of the State of Illinois Department of Financial Institutions. In addition, share accounts of members are insured up to $100,000 by the National Credit Union Administration a Federal Agency.

The Credit Union's current bylaws provide membership to "Any employee of the University of Chicago or the University of Chicago Hospitals, including their subsidiaries and affiliated organizations."