The Evolution Of Hospitality FCU

Hospitality Federal Credit Union was originally chartered in the state of Tennessee in April 1960, as Holiday Inns of America Employee Savings Association Credit Union. The Credit Union served employees of its sponsor corporation, Holiday Inns, Inc. Several years later its field of membership expanded to serve employees of Holiday Inn franchisees throughout the United States. In 1980, Holiday Inns, Inc., purchased Harrah's, a Nevada-based hotel/casino company, and credit union services were offered to Harrah's employees.

In the mid 1980s, Holiday Inns, Inc., began development of Hampton Inns, Homewood Suites and Embassy Suites. Renamed Holiday Corporation, the company decided to divest the Holiday Inn brand, and, in 1990, the Holiday Inn hotel business was sold to Bass PLC. The Promus Companies Incorporated was the name chosen for the spin-off company, which included Hampton Inns, Homewood Suites, Embassy Suites and Harrah's.

The credit union became federally insured in 1991. In 1994, it became federally chartered and the name was changed to Holiday Inn Federal Credit Union. In January 1995, the Promus Companies Incorporated became the primary sponsor of the credit union; the name was changed to Hospitality Federal Credit Union; and the credit union employees became employees of the Promus Companies Incorporated. In June 1995, the Promus Companies Incorporated split into two companies - Harrah's Entertainment, Inc., and the Promus Hotel Corporation. Harrah's Entertainment, Inc. became the primary sponsor of the credit union and the credit union employees became employees of Harrah's Entertainment, Inc.

In 1999, Harrah's Entertainment, Inc. made the decision to move its corporate headquarters to Las Vegas, Nevada. In conjunction with Harrah's move to Las Vegas, it was decided that the credit union employees would no longer be employees of a "sponsor" company. In July 1999, Hospitality FCU became a freestanding credit union and the sponsor companies evolved into the Select Employee Groups (SEGs) served by Hospitality FCU. In November 1999, Hilton Hotels Corporation acquired Promus Hotel Corporation. And, in July 2001, Bass Hotels and Resorts (the hotel company of Bass PLC) changed its name to Six Continents Hotels. Today, the major SEGs in Hospitality FCU's field of membership are Harrah's Entertainment, Inc., Hilton Hotels Corporation, and Six Continents Hotels.

The Credit Union began as a small savings association. Today, we are a full-service financial institution offering our members a variety of share savings accounts, including Money Market Accounts, Term Share Certificates and IRAs; numerous loan products, such as New and Used Vehicle Loans, VISA® credit cards and Home Equity Loans; and many services which are designed to make handling your financial affairs convenient, such as our audio response system (QUE) and our Visa® Global Access Check Card.