An Omega Warrior Enters Omega Chapter

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On February 3, 2015, the Omega Brotherhood and the Omega Psi Phi Fraternity Federal Credit Union lost an outstanding hero. James (Jim) A. Elam left us to join the Founders and thousands of other Omega Men in the Omega Chapter.

While we are deeply saddened by this loss – we are also at the same time extremely grateful that Jim Elam touched our lives so deeply. His legacy lives on in the multitude of accomplishments made in the name of the Omega Psi Phi Fraternity. Inc. He was an outstanding businessman but yet a very humble man – never bragging or taking credit for all the great things that he did in his business or in the name of Omega.

Without Jim’s tremendous financial support, during the fraternity’s exploration of obtaining a new facility, Omega probably would not have the current International Headquarters in Decatur, GA.  The fraternity honored Jim for his contributions by naming the Auditorium after him.

However, one of his greatest achievements was his leadership in the establishment and chartering of the Omega Psi Phi Fraternity Federal Credit Union (OPPFFCU). Against all odds and critics who said it has never been done therefore it could not be done – Jim and a dedicated group of Omega men established the first Credit Union based on a fraternal organization.  For that feat, he has affectionately been given the title of the “Father of the Omega Psi Phi Fraternity Federal Credit Union”. Over the years, under his watchful eye and advice, OPPFFCU has prospered and evolved into a viable financial alternative for Omega Men and their families. The fact that OPPFFCU is one of only two active Credit Unions chartered by the National Credit Union Administration (NCUA) as fraternal associational organizations in the world is testimony to Jim Elam’s visionary ideas. It would require a very long testimony to elaborate on all of Jim’s accomplishments. Therefore, we know that our beloved Fraternity, OPPFFCU, and the world is a better place after being touched by Jim Elam.

Staring with 300 members and basic savings accounts – Jim’s vision has enabled OPPFFCU now to have more than 1,000 shareholders with close to a million dollars in assets that pays dividends in amounts comparable to much larger financial institutions.  Ten percent of the shareholders have chosen to borrow money from OPPFFCU and shareholders now have on-line access to their accounts with mobile access coming in the very near future.

The OPPFFCU Board of Directors is now even more committed to ensure that James A. Elam’s visionary ideas about our beloved Fraternity with OPPFFCU as the main financial support for the Brotherhood continues to evolve as reality that will constantly pay tribute to his legacy.