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What is a Credit Union?
The Credit Union is a non-profit, self-help organization that is run by the directors and committee members to help the economic well being of members. The profits go back to the members in the form of dividends and services. Since upkeep costs are low, the Credit Union can also offer low interest rates on loans.
As a member, you are an owner of the Credit Union and are important to its future. You have the right to ask questions, propose new services, offer criticisms, take part in discussions at any time during and especially at any monthly meeting. Make arrangements by contacting the office or a board member.
The officers are chosen by the Board of Directors to serve one year terms. The officers are: President, Vice President, Treasurer, Assistant Treasurer and Secretary.
A Credit Committee of three members is also elected by the members at the annual election. This committee has the final authority to approve and disapprove loans to members. Board policy gives guidelines to the Credit Committee.
A Supervisory Committee of three members, who are appointed by the board, are responsible for auditing the Credit Union records. This committee should be informed of any problems or questions concerning accounts.
The Greece Community Federal Credit Union was Chartered in 1958 under the name of Greece Central School District Credit Union as a State Chartered Credit Union to serve the employees of Greece Central School District. The first Board Meeting was held on September 22, 1958 reporting assets of $36.00. On October 1, 1986 they converted to a Federal Charter.
On January 29, 2004, Greece Central Federal Credit Union was approved for Community Charter by the National Credit Union Administration. At this time, our name was changed to Greece Community Federal Credit Union. This community charter opened our field of membership to seving persons who live, work, worship, attend school, and businesses located in the town of Greece, New York.
Stop by and visit the newly renovated office located at 1795 English Road.
If you live, work, worship or attend school in the Town of Greece, you and your family are eligible to join the Credit Union. To become a member, you can come to the office to fill-out and sign a Credit Union membership application. You may also pre-apply for membership on-line, but will need to come to the office to sign the form. There is a $5.00 minimum deposit requirement.