Any person who lives, works, or worships in the Fairbanks North Star Borough is eligible to join the credit union.

[2] SoAFCU was originally a small credit union located in the Viking Room of Constitution Hall, University of Alaska Fairbanks.

It was dedicated to non-profit operations for the service and benefit of its member teachers.

As the membership grew and expanded to include members north of the Alaska Range, the name was changed in 1975 to "Northern Schools Federal Credit Union".

SoAFCU opened their newest branch at the corner of Hunter and Johansen in north Fairbanks June 4, 2011.