A Credit Union is a not-for-profit cooperative association
that offers a variety of personal financial
products and services exclusively for their members. People who
join a credit union are eligible to do so because they share a “common
bond”, such as a place of employment, organization, or church
group.
The origin of credit unions dates back to mid-19th
century Europe. At that time, a group of local farmers pooled their
resources to purchase supplies at a lower cost. They also agreed
to place their excess earning during periods of good harvest in
a common account. In return, participants could borrow from the
common account at low interest rates during periods of poor harvest.
In
the early 1900’s, this credit union concept of “People
Helping People” was introduced to the United States by Edward
Filene, a Boston merchant. The first U.S. credit union was established
in 1909 in New Hampshire and is still in operation. Today there
are over 10,000 credit unions in the U.S. serving the financial
needs of over 87 million members.
OUR HISTORY
The
Tobyhanna Army Depot Federal Credit Union began in 1954. The
original charter included employees and family members of the
Tobyhanna
Army Depot, employees of the Credit Union, and their families.
The field of membership remained virtually unchanged until the
1990’s.
In 1992, Wayne County Memorial Hospital Federal Credit Union became
the first Credit Union to merge with Tobyhanna. In 1993, the Credit
Union was approved for its first Select Employee Group (SEG), Interstate
Aluminum located in Pittston, PA.
The Credit Union gained an office in the Stroudsburg/East Stroudsburg
area with the merger of the Monroe Community FCU in 1994. Then
in 1995 there was an expansion into the Scranton area with the
merger of the Mercy Hospital Scranton Employees FCU and a new office
was opened in 1998. In September of 2007 we opened a new branch in Wilkes-Barre Township, giving us a newfound presence in Luzerne county.
Today we continue to grow with the addition of Select Employee
Groups and mergers. Children, grandchildren, and great-grandchildren
of our original members have continued to use the Credit Union
as their sole financial institution to save and borrow.
The
products and services offered and the methods to conduct
business have
changed over
the years as we incorporate modern-day technology
to meet the growing and changing needs of members. However, one
thing that has not changed is the basic philosophy envisioned by
our founding fathers – that of “People Helping People.”
The Tobyhanna Army Depot FCU is dedicated to providing quality
financial products and services delivered in a professional, courteous,
and timely manner. We hope that you take advantage of this
great benefit provided to you by your employer. TADFCU prides itself
on the full line of products and services we offer and we are constantly
striving to enhance them.
An additional benefit for our members is the opportunity to operate
the Credit Union by volunteering to serve on one of our various
Committees, such as the Loan or Marketing Committee. Members also
can run to become a volunteer of the Board of Directors, elected
by membership on a yearly basis.
Therefore, it is a win-win situation when joining the Tobyhanna
Army Depot Federal Credit Union!
OUR FUTURE
In today’s
marketplace it is not only important to keep providing the
best customer
service, but to continue searching
for the newest trends and fulfilling our members needs in the overall
growing financial world. This means the continual addition of new
products and services while staying on the cutting edge of technological
changes and eCommerce strategies. We want to be confident that
there is no need for another financial institution after you Experience
The Difference of being a member at the Tobyhanna Army Depot Federal
Credit Union. Feel free to let us know if there is a certain product
or service that you would like available if it is not currently
offered. After all this is your financial institution and with
out you, the member, we would not be in existence.
