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Erickson Credit Union was founded by a handful of people in the spirit of community growth and co-operation. At a cost of $5 per share, 10 local residents purchased one share each and their investments provided the initial assets for a banking institution and Ericksn Credit Union was incorporated September 2, 1952. By 1964, there were approximately 100 active members and the Credit Union had outgrown the office shared with the Co-op store. The Credit Union office was moved to its own building and full service was provided to the membership. Continued growth of the membership over the next few years necessitated even more office space and better business surroundings for the Erickson Credit Union. In 1968, a new building was constructed to house what was now a recognized community banking service.