Lion Federal Credit Union was issued an Arkansas state charter on August 21, 1936. The credit union was originally chartered as Lion Oil Cooperative Savings and Credit Union. It was formed at that time at the request of the employees and management of the Lion Oil Company. Since its inception in 1936, the Credit Union has converted to a federal charter, expanded its list of sponsoring companies from only Lion Oil to over 40 companies (see Sponsoring Employers), and has grown to over $8,000,000.00 in assets and over 2,800 members.