Mission & History
To create lifetime relationships by delivering personalized financial solutions.
On February 23, 1955, nine employees of the Morrison-Knudsen Company pooled their resources to form the Broadway Federal Credit Union. On that date, they each subscribed to one share ($5.00) and signed the Organization Certificate. Our charter was approved March 11, 1955 under the authority of the Federal Credit Union Act of 1934.
During our first 19 years, we served only Morrison Knudsen employees who worked in or were paid from Boise. Then, between 1974 and 1981, we gradually expanded our field of membership until it included all employees of Morrison Knudsen and its subsidiaries that worked in, were paid from, or were supervised from Boise, San Francisco, Houston and Cleveland.
On December 13, 1982, we changed our name from Broadway FCU to M-K Employees FCU. Over the years, we occupied several locations within the old MK offices on Broadway Avenue and the new Morrison Knudsen office complex on Park Boulevard. Recognizing the need for better access by spouses and family members, we had our new office building constructed at 393 South Third Street, Boise, Idaho and moved in on October 14, 1988. This facility offers convenient access via the Broadway/Chinden Connector and is equipped with safe deposit boxes, a drive-up window, and an after-hours depository.
As our membership became more diverse, we again recognized the need for a new name that would encompass all our members. On July 5, 1995, we changed our name to Les Bois Federal Credit Union to better reflect our new broader field of membership. We merged with HKF Federal Credit Union in Cleveland, Ohio on October 31, 1995 and began serving our Cleveland area members from the old HK Ferguson facilities. We opened our Westpark branch in West Boise on January 8, 1996.
On October 4, 2002, we converted from a Small Employer Group (SEG) charter to a Community charter and began serving all residents of Boise and Garden City, Idaho. On October 31, 2002 we closed our Cleveland branch due to the change in our charter.
We added Boise County to our Charter on December 19, 2003 and on March 15, 2004 we opened our Garden Valley branch in Crouch. We introduced merchant accounts, business loans and merchant card processing services. We converted our debit/ATM cards to “real time” and expanded our real estate loan offerings. We placed self-serve coin sorters/counters at all three branch offices and implemented relationship pricing for our products and services. And, we began reward-based (credit-based) pricing for all consumer loans.
We Celebrated 50 Years of Service in 2005!
We had a busy year due to the merger with the ING Federal Credit Union on August 31, 2005. The ING Federal Credit Union had been serving its members since July 7, 1950. The ING members gained immediate access to a greater array of products and services, more branch locations and expanded business hours. We ended the year with a total of five branches and nearly 9200 members.
Beginning the first quarter of 2006, we introduced Online Bill Pay to our members. During the winter of 2006 we began using an electronic signature system for cash back transactions.
In the spring of 2007 we became equipped with the ability to process our checks electronically with our Check 21 System and we started using a cash dispensing machine to help with the accuracy of member withdrawals.
On October 11th, 2007 we celebrated the opening of our new Corporate Headquarters in Garden City. We celebrated the opening by featuring a night of hors d’oeuvres, beverages, fun and a big cash giveaway of $1,000. The branch was full of members, community leaders, Les Bois staff and Garden City residents to see who won the big prize. Our Glenwood location has 2 drive-up windows and a drive-up ATM.
After 33 years in business, the Gowen Field branch received a “facelift”. The newly remodeled branch celebrated its grand reopening on March 14th 2008. Our military community showed up in strong support of our credit union. We celebrated the day with hors-d’oeuvres, drinks and a drawing for a Cabela’s gift card. The Gowen office now includes a coffee bar, 2 ATM’s (one at the branch and another inside the Base Exchange) and a covered drive thru.
Over the past 54 years, we have grown from 9 members with $45.00 in deposits to 8,832 members with more than $58.8 million in deposits. We have $49.6 million outstanding in loans and our assets exceed $65.5 million. We have grown our Average Total Relationship (ATR) per member from $3,090 in 1988 to $12,245 today. The ATR is calculated by dividing total loans plus total deposits by the total number of members.
In March 2008, we set a new record for loan production in a single month by granting $3,423,926 in new loans. We were stunned! Then we broke that record the following month (April 2008) by granting $3,679,504 in new loans. Through October 2008, we have granted $23,593,661 in new loans to members compared to $22,472,571 for 2006 and $19,830,418 for 2007.
We recently created our Real Estate Loan department to originate real estate loans to sell in the secondary market with servicing to be retained by Les Bois. We have made real estate loans for a number of years that we have retained in our portfolio. We have a self-imposed cap on real estate loans of 25% of our assets, which we have reached. Selling the loans with servicing retained will enable us to continue making first and second mortgage loans to members without giving up our relationship with them. Members will still make their loan payments to Les Bois. We are an approved lender for Fannie Mae, Freddie Mac, IHA, FHA, and VA.
In 2010, we strived to build an electronic relationship with our member’s by introducing e-notices, e-alerts, a weekly e-Newsletter and a mobile e-Banking website for Smartphone users.
On Monday, June 27, 2011 the Garden Valley Branch relocated into a new building that is shared with the Garden Valley Marketplace. An official Grand Opening and Ribbon Cutting was held on July 28, 2011. Representatives from the Garden Valley Chamber of Commerce and the Idaho Credit Union League joined community members and staff to celebrate. The new branch now features: safe deposit boxes, a drive-thru lane and an ATM.
In an effort to merge with Valley Community Credit Union, a special meeting was held on September 14, 2011 where Les Bois members voted in favor of a proposed conversion from federal to state charter. On December 19, 2011 members of Valley Community Credit Union held a special meeting approving the merger with Les Bois Credit Union. Effective December 22, 2011, The Idaho Department of Finance approved our charter conversion and on January 11, 2012, we were granted formal approval from the NCUA to proceed with the conversion. A full data conversion with Valley Community Credit Union was held on February 1, 2012. That morning, we opened with seven branch locations, a total of 11,303 members and a wider field of membership, all under one name: Les Bois Credit Union.
We closed our Gowen Field and Statesman branches at the end of December 2012. The Gowen Field branch was originally founded by the former ING Federal Credit Union and the Statesman branch was originally founded by the former Statesman Federal Credit Union. It was a difficult decision to make, but in the end we determined it was in the long-term best interest of the Credit Union to close them.
We will continue to be involved as a community partner to the Idaho National Guard with organizations like the Idaho Military Financial Alliance. Our staff from these branches, as well as all other employees, look forward to serving you at our five remaining branches in Boise, Garden City, Nampa, Garden Valley, and Cascade, Idaho. Members can also continue to take advantage of our nationwide Shared Branch Network consisting of over 6,800 shared branches.
During the last week of the Gowen Field and Statesman branch operations, we showed our gratitude to members with special treats and some fun every day before the doors were closed. We truly appreciate the special relationships we formed with our members there and look forward to continuing our bonds with everyone at our other locations!