On March 1, 1941 seven individuals, Rollie E. Miller, Warren Jackins, F.W. Wilhelm, Roy Kopisch, Inez W. DePue, W.L. Ahlemeyer and Fred Pramann petitioned the Farm Credit Administration (Bureau of Federal Credit Unions, later NCUA was formed in 1934 under the Farm Credit Administration) for permission to form a credit union in Sheridan Wyoming for U.S. Government employees.
Sheridan Employees Federal Credit Union as it was then known was granted charter number 4374 on March 24, 1941. Each of the seven charter members opened the first share accounts at the credit union with one share each at a par value of $5.00 ($66.55 in 2007 dollars). The credit union occupied various office space, including the laundry and building 5 on the grounds of Fort McKenzie the V.A. Hospital in Sheridan until 1984 when the decision was made to relocate the credit union in downtown Sheridan to 23 North Scott across the street from the post office.
The credit union grew slowly and steadily until the move downtown when the credit union started to expand the field of membership to include other SEG's (Select Employee Groups). In March of 1988 the credit union merged with the SherDek Federal Credit Union greatly expanding the growing field of membership. By 1991 the credit union had outgrown the North Scott location and purchased land at the corner of Burkitt and Gould streets to build a new building. A new building was completed in November of 1992. The credit union in 1998 petitioned and was granted a community charter from NCUA allowing the credit union to serve all individuals living, working and worshipping in Sheridan County Wyoming. Also in 1998 the credit union changed its name from Sheridan Employees Federal Credit Union to Sheridan Community Federal CU a small but distinct change to better show the new community charter.
Today the credit union is still located on Gould street and over the last four years has purchased most of the land around the credit union for future expansion.