History of Highmark Federal Credit Union

Did you know that Highmark Federal Credit Union was the first credit union in Rapid City?  From our humble beginnings, Highmark FCU served members from a converted janitor’s closet area at the old Rapid City Central High School, which is now known as Dakota Middle School.  During Highmark’s history of exceptional member service, we’ve undergone many changes as a result of continuous growth.  Here is our story:

Highmark Federal Credit Union was originally chartered on October 28, 1940, as Rapid City Teacher’s Federal Credit Union, Charter #4122.  By December 19, 1941, the Credit Union served 53 members with a total of $487.96 in share accounts.  Only Rapid City area teachers were able to join the Credit Union until 1977, when the field of membership expanded to include the Douglas School System at Ellsworth Air Force Base.  By October 31, 1975, the Credit Union had reached $1,569,162.29 in assets with 1,293 members. 

main office - 70s
5th Street location circa 1960

With Highmark’s growth on the rise in mid 70’s, the Credit Union took the next step in paving the way for continued success and purchased the 725 5th Street building in Rapid City.  Previously a gas station, the building was remodeled, and in February of 1978, we were ready to move into our new office, which is still our primary location.

As our field of membership expanded to include several new Select Employer Groups, (SEGS), our name changed to Rapid City Federal Credit Union in 1988.  Also, a new addition to the building was completed, including a larger, improved Teller and Lobby area with Drive-Thru Teller Services.

A construction project in December of 1995 expanded the facility an additional 3,200 square feet, doubling the size of the existing building and adding a third Drive-Thru lane.  The construction was completed in July of 1996.

In March of 1998, Rapid City Federal Credit Union opened a Westside Branch at 2120 West Main Street in Rapid City.

The millennium year was a year of many changes for the Credit Union.  In March of 2000, we changed our name to Highmark Federal Credit Union – a name that incorporates our educational background and the high quality of our products, services, and dedication of our employees and Board of Directors.

In July of 2006, Highmark Federal Credit Union opened a 3rd Branch at 602 Mt. Rushmore Road in Custer, SD.

In January of 2009 we moved into our new 17,000 square foot building on 5th Street.

New 17,000 Square foot building

In February of 2013, Highmark Federal Credit Union opened a Lending Center at 146 W. Illinois Street in Spearfish, SD.

Today, Highmark serves a broad membership base consisting of multiple households through a variety of eligibility outlets. Those who live, work, worship or attend school in Butte, Custer, Fall River, Harding, Lawrence, Meade and Pennington Counties, South Dakota, and Campbell, Crook, Niobrara and Weston Counties, Wyoming or have an immediate family member who does, are eligible to join Highmark Federal Credit Union.