Our History and Financial Strength
In 1923, a small group of fourteen Los Angeles postal employees gathered in the home of Dorothy Barr with a shared goal: to create a financial association dedicated to serving postal employees throughout Los Angeles County.
Over the next several years, the group conducted extensive research, corresponding with Postal Headquarters in Washington, D.C., postal unions, and similar organizations to better understand how to structure such an institution. Their efforts were entirely voluntary, driven by dedication and a strong belief in cooperation and mutual support. Together, they developed the bylaws that would guide the organization’s growth and long-term success.
The first official organizational meeting took place on October 18, 1926. At that meeting, the bylaws were adopted, officers were elected, and the organization was formally named The Los Angeles Postal Employees Saving and Loan Club. The original officers were Carl E. Gorman, President; A.J. Corlin, Vice President; Dorothy P. Barr, Secretary; and Walter C. Gayhart, Treasurer. The association began with 17 members, modest deposits, and carefully structured loan limits designed to promote financial responsibility.
Growth was steady and purposeful. By January 1927, membership had grown to 47 members with total assets of $557.96. Without a formal office, records were maintained from the homes of the Treasurer and Secretary. By 1929, assets had reached $10,431, leading to an application for incorporation with the State of California. On October 26, 1929, the organization was officially incorporated as Postal Credit Union of Los Angeles.
Dorothy Barr, the credit union’s first secretary and holder of Account No. 1, remained a devoted member until her passing in 1996 at the age of 99. Her leadership and commitment were instrumental in the credit union’s successful beginnings. Also noteworthy is Ivan Wright, who served as treasurer for many years with the support of his spouse, Mamie Wright.
After proudly serving members for nearly 74 years as Postal Credit Union of Los Angeles, the credit union adopted the name Priority One Credit Union in July 2000. This change reflected a broader vision and an ongoing commitment to placing members first.
Today, Priority One Credit Union continues to honor the mission established by its founders—serving members with integrity, financial strength, and a deep commitment to community.
We are proud to say that your Credit Union is financially strong and has a great future.
We wonder if the first 17 members ever envisioned that we would grow to become a $208 million financial institution serving over 14,000 members.
Current Membership Scope
Current membership eligibility includes USPS employees and their families (from the Bishop County line to the Arizona border), over 20 Select Employer Groups (SEGs), and people living, employed, attending school or worshiping in the San Fernando Valley, Santa Clarita Valley, or the City of South Pasadena. Leadership including current President/CEO contributed to adding products and services for member financial fitness.
Mission Statement
To help our member-owners and employees achieve financial fitness.
Vision Statement
We are committed to offering quality products and services that help you win with money.