The entire credit union movement was founded as a non-profit alternative to banks — based on the simple premise: “People before profit.”
And that’s still the spirit that drives Parda Credit Union today. Since our founding, meeting the needs of our members has always come first. Sometimes it takes the form of competitive rates and more personal service. Other times it means developing new banking products and services to keep up with changing times and technologies. But through it all, we’ve always kept our members’ best interests front and center.
Most credit unions are started to serve the needs of people with a common bond, such as employees of one
company (which is called a Select Employee Group or SEG, for short). The employees at the Detroit facility of the Parke-Davis pharmaceutical company were our first members and the inspiration for our name: Par(ke)-Da(vis).
Parda started with seven volunteers and a cigar box as the “vault” where money was kept. Today, more than eight decades later, we have dozens of staffers working at eight branches to serve the needs of more than 15,000 members from 300+ SEGs. Our physical footprint encompasses four states and we have more than $245 million in assets.
In 2021, we rebranded with a new look and logo. But we’re still fully committed to the financial well-being of our members. It’s no accident that our new slogan ends with the word “you”. We invite you to explore membership opportunities.