ERIE —Erie Federal Credit Union (Erie FCU) celebrates its 85th anniversary this month. To celebrate, the Credit Union is hosting a variety of anniversary events for its members and employees.
The former Erie School Employees Federal Credit Union was chartered in June of 1936, at the height of the Great Depression, by a group of 10 educators who met at the Ford Hotel in downtown Erie.
The credit union began with 46 members and $241 in deposits and one loan for $50. The credit union’s first official office was on the second floor of the Public Library located at 27 South Park Row along with the Erie School District office. From these humble roots, Erie FCU has grown to become Northwestern PA’s largest Credit Union.
“The initial deposits of our member-owners were utilized, in part, to provide small dollar loans toassist our members during those tough economic times,” says Brian Waugaman, CEO of Erie FCU. “Eighty-five years later, we’re still operating under the same credit union philosophy of “people helping people” and being there when our members and the community need us most.”
In 2003, the credit union was granted a community charter so it could serve all of Erie County. 2003 was also the year the credit union completed several mergers and changed its name to Erie Federal Credit Union.
Waugaman added, “We want to thank our members for trusting us with their personal finances for the past 85 years.”
Since its inception in 1936, Erie Federal Credit Union, has been serving its members in and around the Erie, Pennsylvania area. Erie FCU has grown its membership to 67,000 with assets of more than $720 million. It has over 180 employees with a corporate office and nine branch locations. As a full-service, federally insured credit union, anyone that lives, works, worships, or attends school in Erie or Crawford County, Pennsylvania is eligible to join. Erie FCU is an Equal Housing Lender.
For more information, visit www.eriefcu.org.
