Priority One Credit Union is celebrating its centennial milestone this year, marking 100 years of dedicated financial service, community advocacy, and cooperative values across Southern California.
Serving the community under its centennial theme, A Century of Service, Stamped in Trust, the credit union is commemorating a legacy that began a century ago with a small group of civic workers seeking mutual aid.
Those efforts eventually grew into a modern financial institution managing approximately $205 million in assets and serving more than 17,000 members across three branch locations.
The roots of Priority One trace back to 1923, when 17 Los Angeles postal employees gathered in the home of Dorothy Barr. United by a challenge to find accessible, fair financial support during an era when traditional banks often overlooked everyday workers, the group set out to build a cooperative association tailored to postal personnel across Los Angeles County.
For three years, the group volunteered its evenings and weekends, conducting research and communicating with the U.S. Postal Service headquarters in Washington, D.C., postal unions, and peer associations. Its dedication culminated on October 18, 1926, during the first official organizational meeting.
That evening, bylaws were formally ratified, and the institution was chartered as The Los Angeles Postal Employees Saving and Loan Club. Leading the early effort was its inaugural team: President Carl E. Gorman; Vice President A.J. Corlin; Secretary Dorothy P. Barr; and Treasurer Walter C. Gayhart.
Launching with just 17 members and modest personal savings, the credit union had no brick-and-mortar headquarters. Financial ledgers were balanced and stored inside the homes of Barr and Gayhart.
However, by January 1927, the fledgling club expanded to 47 members with total assets of $557.96. The model of shared trust was effective.
By 1929, total assets crossed $10,431, prompting the board to seek formal state recognition. On October 26, 1929 — before the stock market crash that ushered in the Great Depression — the organization officially incorporated under a state charter as Postal Credit Union of Los Angeles.
During economic shifts of the 20th century, the credit union remained an anchor of stability, with its founders and stewards guiding its course. Barr, who held the very first account, remained an active credit union member until her passing in 1996 at the age of 99. Ivan Wright, alongside his wife Mamie Wright, provided decades of foundational leadership as long-serving treasurer.
After nearly 74 years of serving the postal community under the Postal Credit Union banner, the credit union rebranded to Priority One Credit Union in July 2000. This reflects an expanded field of membership, broader product offerings, and a revitalized mission to put members first across all walks of life.
Today, Priority One Credit Union upholds the founding philosophy of “people helping people.” Its mission remains to help members and employees achieve financial fitness, backed by a commitment to quality products and services that empower members.
“Having the ability to be innovative is one of the greatest gifts that Priority One Credit Union offers to its employees,” said Charles Wiggington Sr., president and CEO of Priority One Credit Union. “This has had a positive impact on our members for 100 years.”
Backed by values of mutual respect, teamwork, and a supportive workplace culture, Priority One Credit Union has paired its historic roots with modern digital banking, community outreach, and member-centric loan programs:
