Question 1

What is Linton Credit Union of Tonawanda?

Accepted Answer

Linton Credit Union of Tonawanda is a small, occupational federal credit union serving employees of Praxair, Inc., now part of Linde plc, one of the world's largest industrial gas companies. Based in Tonawanda, New York, this credit union operates with approximately $7.3 million in assets and serves a membership of around 808 individuals.

As a single-sponsor employer credit union, Linton Credit Union focuses exclusively on providing financial services to the Praxair/Linde employee community and their families. The credit union maintains a strong capital position with a net worth ratio of 22.62% and a loan-to-share ratio of 72.94%.

Question 2

When was Linton Credit Union of Tonawanda founded?

Accepted Answer

Linton Credit Union received its federal charter (Charter Number 9676) from the National Credit Union Administration (NCUA). While the exact founding date is not publicly available, the credit union was established to serve employees of Praxair's operations in the Tonawanda area.

The credit union was named after the historical Linde Air Products Company (which later became part of Praxair), which operated the Linde Ceramics Plant and other facilities in Tonawanda. Praxair was acquired by Linde AG in 2018, creating Linde plc, though the credit union continues to serve this employee community.

Question 3

Where is Linton Credit Union of Tonawanda headquartered?

Accepted Answer

Linton Credit Union is headquartered in Tonawanda, New York, a city located in Erie County in western New York, adjacent to the city of Buffalo. The credit union's mailing address is care of Praxair Inc., P.O. Box 44, Tonawanda, NY 14150.

Question 4

Where does Linton Credit Union of Tonawanda operate?

Accepted Answer

Linton Credit Union operates exclusively in the Tonawanda, New York area, serving employees of Praxair/Linde facilities and their immediate family members. As an occupational credit union with a single-sponsor field of membership, the credit union's service area is limited to individuals who work for the sponsoring employer.

Membership eligibility is restricted to Praxair/Linde employees at designated locations and their qualifying family members, following federal credit union membership requirements.

Question 5

What services does Linton Credit Union of Tonawanda offer?

Accepted Answer

Linton Credit Union provides core financial services to its member-owners, including:

Savings Products: Share accounts (savings accounts) and share draft accounts, with total deposits of approximately $5.6 million. Members can build savings through regular payroll deduction or direct transfers.

Lending Services: Personal loans and consumer lending products, with a total loan portfolio of approximately $4.1 million. The credit union maintains a conservative lending approach with a loan-to-share ratio of 72.94%.

Member Services: As a small employer-based credit union, services are typically delivered through workplace access, with personalized member service reflecting the close-knit nature of the employee community. The credit union does not maintain a public website, indicating services are provided directly through employer channels and member contact.

Question 6

What makes Linton Credit Union of Tonawanda unique?

Accepted Answer

Linton Credit Union is distinguished by its exclusive focus on serving the Praxair/Linde employee community in Tonawanda. Several factors make this credit union unique:

Single-Employer Focus: With only 808 members, the credit union maintains an intimate knowledge of its membership base and can tailor services to the specific needs of industrial gas industry employees.

Strong Financial Position: Despite its small size, the credit union maintains excellent financial metrics, including a net worth ratio of 22.62% (well above regulatory requirements) and a return on assets of 1.28%, demonstrating sound financial management.

Workplace Integration: Operating through the employer relationship, the credit union leverages workplace access and likely offers convenient payroll deduction services, making it easy for employees to save and repay loans.

Historical Connection: The credit union's name honors the Linde heritage in Tonawanda, where Linde Air Products Company operated for decades, creating a strong sense of tradition and community among members.

Question 7

What type of financial institution is Linton Credit Union of Tonawanda?

Accepted Answer

Linton Credit Union of Tonawanda is a federal credit union, chartered and regulated by the National Credit Union Administration (NCUA) under Charter Number 9676. Federal credit unions operate under the Federal Credit Union Act and NCUA regulations.

As a member-owned cooperative financial institution, the credit union is organized for the mutual benefit of its members rather than to generate profits for external shareholders. Each member has equal voting rights (one member, one vote) regardless of account balance.

The credit union falls under NCUA Region 1, which covers the northeastern United States. All member deposits are insured up to $250,000 per individual depositor by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States government, providing the same level of protection as FDIC insurance at banks.

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About Linton Credit Union of Tonawanda in the United States