The history of Carter runs deep and this tradition continues today, as Carter Credit Union is unique among credit unions in the United States as it continues to carry the name of its founder. Carter Credit Union's beginnings date back to 1954, when Floyd Carter chartered the credit union to serve the employees of International Paper Company in Springhill, Louisiana. As paymaster of International Paper, Floyd Carter witnessed predatory lending practices within his own workplace, and made a commitment to seek a safe way for employees to borrow and save money. His mission was to form a financial cooperative based on the premise of “people helping people”. Carter Credit Union was chartered for the purpose of improving the financial well-being of its members. By 2005 the credit union industry was faced with unprecedented challenges as the national unemployment rate reached record highs. Another milestone in the Credit Union’s history occurred that year when the Board of Directors recruited James P. Gibson to become President and CEO. Under his leadership, Carter has continued its tradition of service to its members, and has experienced tremendous growth, doubling its asset size in only five years. Mr. Gibson retired in August of 2014, and the Board of Directors appointed Joe Arnold as President and CEO.
Under the leadership of Chief Executive Officer Joe Arnold, Carter is currently over 26,000 members strong with assets topping $300 million. Carter now serves people from coast-to-coast, and we offer every product and service that your local bank offers. Included in these services are both business lending and commercial deposit services. Carter has made significant investments in our systems and people in the commercial side so that we can bring value proposition that people are used to on the consumer side to the business side. Arnold and his team stand proud of the credit unions growth and accomplishments and remain dedicated to the mission of improving the financial well-being of its members and to serving our communities.
Arnold and his staff currently serve 6 locations, with the newest location in Bossier City. Our 7th branch location will be located in the Shreveport market with plans to open in early 2020. This state of the art facility will house both our retail and commercial departments, as well as all support staff and management team members.
Carter is a shareholder and participant in the Credit Union Service Center Network. This expands the availability of teller service for its members across the United States, and included hundreds of locations.