Where It All Began

It all began in 1958, when Commanding Officer Captain J.E. Richey of the U.S.C.G. Training and Supply Center, now Coast Guard Island, was discontented with a certain financial institution that was charging 36% for borrowing money. Coast Guard personnel were borrowing from this financial institution, and some of them could not afford to pay the money back at such high interest rates. Captain Richey was then informed by the financial institution to take action on this matter, and so he did. Instead of collecting money from the borrowers, he took the initiative and founded what we know today as Sea West Coast Guard Federal Credit Union.

Captain Richey assigned LCDR Raymond Holley the task of gathering information on credit unions and their functions. Holley presented his facts to the Captain, and after reviewing Holley’s research, the Captain stated, (recalls Holley), “You got it, you start it.” Raymond Holley became the first President of the Credit Union’s Board of Directors.

In 1960, when Holley received his orders for transfer to another installation, Walter Terry came aboard and became President. And after retiring from the Coast Guard in 1965, he took over the management of the credit union.

Today, nearly 70 years in business, Sea West has grown from one million dollars in assets back in 1965 to over $400 million in assets today.

 

What We Stand For

While much has changed since our founding, the values that shaped our beginnings remain at the heart of everything we do. We continue to uphold the same commitment to service, integrity, and community that guided us from the start. Our dedication to supporting our members and staying true to our mission has remained unwavering, even as we’ve grown and evolved to meet new challenges and opportunities.

Where We Are Now

We proudly serve Coast Guard personnel, just like we did when we started. We now also serve all Bay Area military, veterans, and people all over the world. We still have a special heart for serving younger military members, just like our founders did.