On December 14, 1954 the Credit Union was established to serve as its Field of Membership (FOM), the Pine Castle Air Force Base. In 1958 the credit union was renamed McCoy Federal Credit Union in Honor of Michael N.W. McCoy, commanding officer of the Air Force Base. In 1981 McCoy Federal was re-chartered as a Community Based Credit Union after the closure of the Air Force Base. The Credit Union now serves as its FOM, the Metropolitan Statistical Area (MSA) of Orange, Osceola, Seminal, Lake Counties. Those who Live, Work, Worship, or Attend School in the MSA, or have a relative that falls within the FOM, are eligible to join the membership of McCoy Federal. The Credit Union currently has 15 locations and over $1 billion dollars in assets. In 2020 the Credit Union annual earnings was $2.5 million. In 2021 the Credit Unions annual earnings was $8. 8 million, in 2022 earnings were $8.4 million and in 2023 earnings was $7 million dollars in assets.
Alvin J Cowans has served as its President/CEO since October 1985. the Credit Union in October, 1985 was approximately $35 million dollars in assets. Alvin is a graduate of the University of Florida, School of Journalism. Alvin is a four year letterwinner in football at the University of Florida, where her was an All-SEC Defensive Back, a Senior Bowl participant and a 10th round draft choice of the Pittsburgh Steelers in 1977. He also was team co-captain in 1976.
Cowans has held the National Credit Union positions of Reginal Director of the National Association of Federal Credit Unions (NAFCU) now known as Americas Credit Union. The Chairman of the League of Southeastern Credit Unions, Federal Reserve Consumer Advisory Council (CAC) and Consumer Depository Institutions Advisory.
http://McCoyFCU.org
Alvin Cowans, BSJ ‘77
President/CEO
Financial Services
Orlando, FL
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