SMW Federal Credit Union was established in 1953 for the purpose of assisting members' financial needs in a credit cooperative. The credit union is a service-oriented financial cooperative that originally opened to Local 10 union members and its retirees; employees of companies affiliated with the SMW trade unions in Minnesota, North Dakota, and South Dakota; and immediate family members.

Over the years the St. Paul and Minneapolis Local credit unions merged and became "SMW Federal Credit Union." For more than 50 years, the credit union has been offering an assortment of products and services geared to meet the financial needs of its members and their families.

In 2006, SMW Federal Credit Union expanded its membership charter to Anoka County. If you live, work, worship, volunteer, or attend school in Anoka County, Minnesota, you are eligible for membership. All family members are also eligible for membership.

Once a member, always a member at SMW! Members can move out of town, get married, change employers, and so on. But once a member, always a member.