J.E. Grigsby, Founder
Educator • Visionary • Founder
In 1941, the School Workers Federal Credit Union was founded by and for African-Americans to provide financial services to those who were rarely able to access the banking sector at the time. Teachers and other education workers made up its initial membership. The original charter was signed on February 24, 1944 by Mr. J. Eugene Grigsby, Mrs. E. R. Anderson, Mr. Joseph F. Towns, Miss Carrie E. Robinson, Mr. Clinton L. Blake, Mr. Daniel E. Moore, M. Spencer Albury,and S. Herbert Adams. Mr. Grigsby, the principal of Second Ward High School, organized the credit union and served as treasurer. Under his leadership, he recruited his staff to pool their monies for deposit into the credit union. Mr. Grigsby and his wife, Purry L. Grigsby operated the credit union out of the basement of their home.
They encouraged savings by providing home cooked goodies when members came by to make their deposits. He also began recruiting other members from the other predominantly black schools. After Mr. Grigby’s death, Mrs. Rosena Gaines, Mr. Lloyd Sigler and Ms. Patricia Looper served faithfully. Together, they saw the credit union’s assets rise to $2 million. The credit union’s growth required more space. They began leasing space to establish their own identity and presence in the community. Michelle Outlaw currently holds the position of President & CEO.
In June 2006, the name was changed to First Legacy Federal Credit Union. We are the largest community development credit union in the state of North Carolina, serving over 7,500 members with assets totaling over $33 million. Our field of membership includes anyone who lives, works, worships, or attends school in the following counties: Mecklenburg, Cabarrus, Iredell, Rowan, Catawba, Alexander, Davie, Gaston, Lincoln, and Cleveland.
The credit union provides an array of financial services to its members. These services include checking accounts, regular savings, certificates of deposit, IRAs, New and Used auto loans, Home Equity Loans, First and Second mortgages, credit and debit cards to name a few. Members are offered individual personal financial counseling, home-buying tips, and other non-financial related services.
A Board of Directors and a Supervisory Committee govern the credit union. Currently there are 24 employees working in the Charlotte, Gastonia, Salisbury, and Statesville Branches.
Mr. Grigsby’s mission of providing financial services to the underserved continues to be focus of the credit union as it expands in membership and services. As First Legacy Community Credit Union moves forward, the legacy of Mr. J.E. Grigsby will be at the forefront of all endeavors.