Question 1

What is Town of Cheektowaga Employees' Credit Union?

Accepted Answer

Town of Cheektowaga Employees' Credit Union is a federally chartered credit union serving municipal employees of the Town of Cheektowaga, New York. With approximately $37.3 million in assets and nearly 1,500 members, this credit union was created by and for employees of the town government. The credit union provides personalized financial services to town workers and their families in the Buffalo metropolitan area, maintaining the cooperative principle of employees helping employees achieve financial success.

Question 2

When was Town of Cheektowaga Employees' Credit Union founded?

Accepted Answer

The credit union was founded in November 1980 when a small group of motivated employees met in the Town of Cheektowaga Police Department's pistol range room. These founding members included David J. Kulik, Joanne Imiola, Robert Lis, Gary Wolinski, and Sylvia Slawiak. Each person pledged to invest at least one share ($20.00) to establish the new organization with the objective of creating a savings and loan cooperative for town employees. The credit union was officially chartered on November 13, 1980, as the Town of Cheektowaga Employee's Federal Credit Union. The first Board of Directors consisted of Robert M. Lis (President), Mary Gawron (Vice President), James Matecki (Vice President), Sylvia Slawiak (Secretary), and David Kulik (Treasurer). On March 2, 1981, the Cheektowaga Town Board approved payroll deductions, enabling convenient savings through direct deposit.

Question 3

Where is Town of Cheektowaga Employees' Credit Union headquartered?

Accepted Answer

The credit union is headquartered at 3251 Broadway Street in Cheektowaga, New York, in Erie County. The credit union established its first office on the Town of Cheektowaga campus at 1 Credit Union Drive on July 17, 1984. After moving to a credit union trailer on May 26, 1988, the credit union opened its current permanent facility on December 13, 2004.

Question 4

Where does Town of Cheektowaga Employees' Credit Union operate?

Accepted Answer

The credit union operates from its single location in Cheektowaga, New York, serving employees of the Town of Cheektowaga municipal government. Cheektowaga is a suburban town in Erie County, immediately adjacent to the City of Buffalo. Membership is available to current and retired employees of the Town of Cheektowaga, as well as their spouses, family members, and those living in the same household. The town was incorporated in 1839 and derives its name from the Iroquoian word "ji-ik-do-wah-gah," meaning "place of the crab apple tree."

Question 5

What services does Town of Cheektowaga Employees' Credit Union offer?

Accepted Answer

The credit union offers comprehensive financial services including share savings accounts, checking accounts, certificates of deposit, and money market accounts. Loan products include personal loans, auto loans, home equity loans, and mortgage services. Members have access to modern digital banking services including online banking platforms, mobile banking, and bill pay services. The credit union provides convenient access through ATM services and drive-thru banking facilities with four drive-thru lanes at the main office. Payroll deduction is available for town employees, making it easy to build savings automatically.

Question 6

What makes Town of Cheektowaga Employees' Credit Union unique?

Accepted Answer

This credit union's unique strength lies in its exclusive focus on serving municipal employees who work together for the Town of Cheektowaga. The common bond creates a tight-knit financial community where colleagues help colleagues. With over 44 years of history serving town employees, the credit union has built multi-generational relationships with members and their families. The word "employee's" was removed from the charter name, becoming simply "Town of Cheektowaga Federal Credit Union," reflecting the credit union's evolution while maintaining its core mission. The credit union maintains exceptional financial strength with a 16.6% net worth ratio, significantly above national averages, ensuring stability and security for members.

Question 7

What type of financial institution is Town of Cheektowaga Employees' Credit Union?

Accepted Answer

Town of Cheektowaga Employees' Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). It operates as a member-owned, not-for-profit financial cooperative with democratic governance where members elect the board of directors on a one-member, one-vote basis. The credit union is classified as an occupational federal credit union with membership restricted to employees and retirees of the Town of Cheektowaga municipal government and their immediate family members. All deposits are federally insured up to $250,000 per member by the NCUA. The credit union's charter number is 23717.

Question 8

How has Town of Cheektowaga Employees' Credit Union grown over the years?

Accepted Answer

Since its humble beginning in 1980 with founding members pledging $20 shares in a police department meeting room, the credit union has grown to over 1,500 members with more than $37 million in assets. The credit union's physical presence has evolved from operating out of town offices to a credit union trailer, and finally to a permanent headquarters facility that opened in 2004. Through 44 years of faithful service, the credit union has remained committed to its founding principle of employees helping employees achieve financial success and stability.

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About Town of Cheektowaga Employees' Credit Union in the United States