In 1952, when most Southern Pacific Employees had never heard or even dreamed of a Credit Union, Jake Fannin, a switchman, and his wife Mary Ellen knew of these things and had a strong desire to get a credit union started for Southern Pacific employees in Bakersfield. Mary already had considerable banking experience and with a little help and advice from the Kern County Teachers Credit Union, convinced a dozen Southern Pacific employees that a credit union for them would be a good thing indeed. The group dug deep in their pockets and with a couple thousand dollars held their first meeting in the Fannin home. Their home actually became the office and headquarters for the credit union. The original members helped to fill all the officer and board positions. Slowly membership started to grow and today (2019) Espeeco has assets of $11.3 million*.