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Byron E. Howlett Sr., who served as president/CEO for one of the oldest credit unions established by African Americans, passed away on Jan. 9.
Byron E. Howlett Sr. He was 73.
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Howlett was appointed the second CEO of the $6.9 million Richmond Heritage Federal Credit Union in 1992 when the Richmond, Va.-based financial institution's name was Richmond Teachers Federal Credit Union. The financial cooperative initially served Richmond's public school teachers and professors at the Virginia Union University.
The credit union was founded by 10 educators in 1936 – just two years after President Franklin Delano Roosevelt signed the Federal Credit Union Act into law – who recognized a need to offer African Americans financial resources not available to them by traditional banks at that time.
In addition to opening the credit union's field of membership, Howlett led the development and expansion of member services such as online banking, credit and debit cards, safe deposit boxes and ATM access, according to the Richmond Free Press.
Richmond Heritage currently serves nearly 2,300 members.
Memorial services for Howlett were held Jan. 15 at the Mimms Funeral Home in Richmond.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
