John A. Sarver II developed the forerunner of the FedComp software program we use today in 1982 for a credit union in Parkersburg, West Virginia. John designed the program to be utilized by the credit union his grandfather managed. At that time, there was little opportunity for affordable computer automation in credit unions.

Robert Duff, an NCUA compliance officer, met John Sarver during an examination of his grandfather’s credit union. He saw there was a need for this type of automation at thousands of other credit unions throughout the country. As a result, he and Sarver founded FedComp in 1984. The name "FedComp" stands for Federal Compliance. As a software developer for credit union accounting systems, we wanted to convey we were going to make compliance with federal regulations easier. We developed a more comprehensive system that could be distributed nationwide.

The system was rewritten to run on the original IBM PC/XT. The first system was delivered in March 1984 to another credit union in Parkersburg. The product was then ready to be distributed nationally. In the first year, sales were made not only in West Virginia, but also in Texas, Georgia, Virginia, Maryland and the District of Columbia. By the end of 1985, there were over 120 installations of FedComp.

In 2000, FedComp is the largest supplier of PC-based credit union software worldwide with over 2500 sold. We have credit unions in 48 states, Puerto Rico, Jamaica, Barbados, Virgin Islands and the Bahamas. We have over 30 employees with headquarters in Fairfax, Virginia and sales locations in Georgia, Colorado and Florida. We have expertise in software, credit union regulations, LAN system, hardware and communications. We also regularly provide training to our customers. In addition, we frequently take on specialized software assignments for NCUA (the government regulator of credit unions) and CUNA (a national credit union trade group).

FedComp’s reputation is based on superior product and service at a reasonable price. FedComp is committed to credit unions and the credit union movement.