The Past Fifty Years… 

Fifty years ago an idea of forming a cooperative credit union was born.   In 1953, employees of Riegel Paper Board Company decided to form a credit union that would enable employees to save by payroll deduction on a weekly basis.  These savings could then be loaned to members at reasonable rates and terms.  Seven charter members were:

•  J. J. Williams 

•  Marion E. Judah  

•  A. N. Lentz, Jr.     

• Robert L Pearson    

• W. C. Barnes 

• Harold L. White

• E. J. McCusker   

Over the past fifty years many changes have taken place.  What started with $5.00 per share with simple saving and loan services has expanded into a financial institution with many financial services and conveniences required to compete in the 21^st Century.

The original purpose and philosophy of our credit union has remained the same.  A credit union formed and supported by individuals with a common bond, making financial services available to each other through a cooperative effort.

Riegelwood Federal Credit Union has much strength that has brought us through 50 years:

1.                  Our Philosophy of “People Helping People”

2.                  Volunteers eager to give of their time and knowledge

3.                  Support of our sponsor through the years.

4.                  Dedicated long term employees

The many individuals who have served as board members, supervisory committee, and credit committee members are to be commended for their vision, hard work, and support that have created a successful credit union that we can all be proud of today.

Today …    

Riegelwood Federal Credit Union is over 6,178 members strong and 58 million in assets.  Since 1986, when we moved into our current location at 183 John Riegel Road, we have grown by over 2,500 new members and assets have increased by 35 million.  With all the services that are available to our members and this being our only branch office, we have a growing need to make our financial institution as confidential as possible.  In order to make that possible, we are expanding our building to allow for more private offices to serve you in a more professional manner.

Your credit union is a not-for-profit financial cooperation, and is governed by a member-elected board of directors.