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Woodmen of the World Life Insurance Society

Did you know the Federal Credit Union Act, the law that allows the establishment of all federal credit unions, has direct connections to Woodmen of the World Life Insurance Society?

The original bill was written by Morris Sheppard, a United States Senator from Texas and the Treasurer for Woodmen of the World Life Insurance Society. Senator Sheppard not only wrote the bill, but he also championed it to unanimous consent in the United States Senate. Upon the signing of the Federal Credit Union Act into law by President Franklin Roosevelt in 1934, Senator Sheppard immediately chartered two federal credit unions.

The very first federal charter was issued to the Morris Sheppard Texarkana Federal Credit Union in Senator Sheppard’s home town and charter #16 was issued to the Morris Sheppard W. O. W. Federal Credit Union.

In 1990, the charter was amended to include all Woodmen Tower employees and their relatives and the name was changed to Woodmen Federal Credit Union as it is known today. Woodmen Federal Credit Union is proud of our history with Woodmen of the World Life Insurance Society and appreciates their sponsorship. Please visit WoodmenLife here or by clicking on the link or logo below.