Our History: From $50 to Zing Credit Union
Zing Credit Union has deep roots in Denver’s history. What began in 1934 as a small credit union serving city employees has grown into a thriving, member-owned financial institution dedicated to empowering our community. Take a look at the key moments that shaped our journey.
1934 – The Federal Credit Union Act
In June 1934, President Franklin D. Roosevelt signed the Federal Credit Union Act, giving working Americans the opportunity to save and borrow through cooperative credit unions. This law helped people regain financial confidence after the Great Depression and put control of their money back into their own hands.
October 1934 – The First Federal Credit Union
Just a few months later, the first federally chartered credit union was founded in Texas.
1934 – Denver Municipal Federal Credit Union is Born
That same year, a group of City and County of Denver employees pooled $50 to start Denver Municipal Federal Credit Union. Their goal was simple — to support one another financially and create a safe place for their money.
1950s–1970s – Growing with the Community
As Denver expanded, so did the credit union. Through these decades, Denver Municipal FCU grew alongside the community it served, helping more people gain access to affordable financial services.
1995–2017 – Mergers and Milestones
To better serve a growing membership, the credit union merged with several others over the years:
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1995: Housing Authority Credit Union
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2004: Denver Community Development Credit Union
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2008: Zion United Community Credit Union
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2017: West Denver Community Credit Union
2012 – A New Name
In 2012, Denver Municipal FCU became Denver Community Federal Credit Union, a name that reflected its broader reach and community focus.
Later Years – A State Charter
The credit union transitioned from a federal to a state charter, becoming Denver Community Credit Union — a move that allowed even more local flexibility to serve Colorado communities.
2022 – Zing Credit Union
In April 2022, the credit union rebranded as Zing Credit Union. The new name embodies our energy, optimism, and dedication to empowering members to take charge of their financial lives.
From a $50 beginning to a vibrant, member-driven organization, Zing continues to grow with the same cooperative spirit that started it all in 1934.
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TRUTH IN SAVINGS DISCLOSURE
Except as specifically described, the following disclosures apply to all the accounts.
- Rate Information. The dividend rate, or interest rate, and annual percentage yield on your accounts are set forth on the reverse side. The annual percentage yield is a percentage rate that reflects the total amount of dividends/interest to be paid on an account based on the dividend/interest rate and frequency of compounding for an annual period. For Certificates of Deposit and IRA Certificates of Deposit, the interest rate and annual percentage yield are fixed and will be in effect for the term of the account. The annual percentage yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal will reduce earnings.
- Nature of Dividends. Dividends are paid from current income and available earnings after providing for the required reserves. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
- Compounding and Crediting. Interest and dividends will be compounded and credited as set forth on the reverse side. The dividend/interest period for each account is also set forth on our Rate and Fee Schedule. The dividend/interest period begins on the first calendar day of the period and ends on the last calendar day of the period.
- Balance Information. The minimum balance required to open each account is set forth. Interest is calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
- Accrual of Dividends. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on noncash deposits (checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
- Account Limitations. The account limitations for each account are set forth in our Membership and Account Agreement
- Your account will mature on the maturity date set forth on your account receipt or renewal notice.
- Early Withdrawal Penalties. A penalty may be imposed if you withdraw any of the certificate funds before the maturity date or the renewal date, if this is a renewal account.
- Amount of Penalty. For Certificates of Deposit and IRA Certificates of Deposit the amount of the early withdrawal penalty for your account is 90 days’ interest for a term of 12 months or less, and 180 days’ interest for a term over 12 months.
- How the Penalty Works. The penalty is calculated as a forfeiture of part or all of the interest that have been earned on the account. This penalty applies to earned interest and principal.
- Renewal Policy. Certificate of Deposit accounts will automatically renew for another term upon maturity. You have a grace period of seven days in which to change or withdraw the funds without being charged an early withdrawal penalty.
- Exception to Early Withdrawal Penalties. At our option, we may redeem the account before maturity without imposing an early withdrawal penalty under the following circumstances:
- When an account owner dies
- or is determined legally incompetent by a court
- or other body of competent jurisdiction.
- Nontransferable / Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner except obligations with the Credit Union.
- FEES FOR OVERDRAWN ACCOUNTS. Fees may be imposed on each check, draft item, ATM card withdrawal, debit card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or payment of a check, draft or item. You may consult the Funds Availability Policy for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approval limit. Please refer to the Rate and Fee Schedule for current fee information.
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