The Stanwood Area Federal Credit Union traces its roots back to 1940. The credit union has continued to thrive over the years through the efforts of many non-paid volunteers who have been dedicated to the credit union philosophy of “People Helping People”.
Today we service the personal financial needs of over 2,400 members with assets totaling over $12 million. Because we are a not-for-profit financial cooperative, our success is measured by the level of member satisfaction, not just the bottom line.
While attempting to satisfy the needs of an individual member, we never lose sight of the commitment we have to all our members – to protect the financial integrity of their financial institution.
To provide the best quality services available to meet the financial needs of our members. Provide these services at fair and competitive prices while safeguarding the assets of the credit union.
Persons who live, work, worship or go the school in Westmoreland County are eligible to join our Credit Union. Membership applications are available at the New Stanton office. A valid drivers license or military ID is required.
|Nancy Stoner||Vice President|
|Debbie Davis||CEO / Manager|
|Karen Eriksson||Assistant Manager|
|Becky Wadsworth||Loan Officer|
|Kim Frey||Part-time MSR|
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.
The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary’s Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.
The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.
Yes. All savings accounts are insured to at least $250,000 by NCUA, and backed by the full faith and credit of the United States Government.
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a “field of membership.” The field of membership may include where they live, where they work, or their membership in a social or economic group.
We are an equal opportunity employer, dedicated to a policy of non-discrimination in employment on any basis including race, color, age, sex, religion, disability or national origin. Consistent with the Americans Disabilities Act, applicants may request accommodations needed to participate in the application process.