Question 1

What is Century Federal Credit Union?

Accepted Answer

Century Federal Credit Union is a member-owned, not-for-profit financial cooperative serving the Greater Cleveland area in Northeast Ohio. With over $468 million in assets and nearly 30,000 members, it is one of the largest credit unions in the region.

Century Federal operates as a Select Employee Group (SEG) credit union, serving employees and families from more than 350 participating organizations throughout the Cleveland metropolitan area. The credit union emphasizes member benefits through competitive rates, lower fees, and community-focused services.

Question 2

When was Century Federal Credit Union founded?

Accepted Answer

Century Federal Credit Union was chartered on October 10, 1948. It was originally established to serve the financial needs of federal government employees in the Cleveland, Ohio area.

Since its founding, the credit union has grown significantly through strategic mergers and expansion. Notable mergers include Sherwin-Williams Employees Federal Credit Union in 2008 (adding 2,500 members), RTA Hayden Federal Credit Union in 2018 (adding 700+ members), and several other credit unions including B&O Employees FCU and Menorah Federal CU in 2006. In 2023, Century Federal celebrated its 75th anniversary of service to the community.

Question 3

Where is Century Federal Credit Union headquartered?

Accepted Answer

Century Federal Credit Union is headquartered at 4600 Rockside Road in Independence, Ohio. The credit union relocated its headquarters to this location in 2017, establishing a modern facility to better serve its growing membership base in the Greater Cleveland area.

Question 4

Where does Century Federal Credit Union operate?

Accepted Answer

Century Federal Credit Union operates throughout the Greater Cleveland metropolitan area in Northeast Ohio. The credit union maintains nine branch locations across the region, including:
• AJC Federal Building Downtown Cleveland
• NASA Glenn Research Center in Brook Park
• Sherwin-Williams Downtown Cleveland (in the Midland Building)
• Wade Park VA Medical Center
• North Olmsted
• Lyndhurst
• Strongsville
• Independence (headquarters)
• Richmond Heights

Membership is available to employees and their families from over 350 Select Employee Groups (SEGs) throughout the area. Major employer groups include federal government employees, City of Cleveland employees, Federal Reserve Bank of Cleveland employees, and workers from numerous private companies and organizations. Members can also join through the Community Impact Fund, making membership accessible to a broader audience.

Question 5

What services does Century Federal Credit Union offer?

Accepted Answer

Century Federal Credit Union provides a comprehensive range of financial products and services designed for both personal and business needs. Deposit accounts include share (savings) accounts with competitive dividend rates, checking accounts with no monthly fees, Christmas Club accounts, and certificates of deposit.

Lending services feature various loan products including personal loans, auto loans, home mortgages, home equity loans, and credit cards with competitive rates. The credit union emphasizes returning value to members through lower loan rates and higher deposit returns compared to traditional banks.

Digital banking services are robust and highly rated, with online banking and a mobile app (rated 4.8 out of 5 stars). The mobile app offers features such as mobile check deposit, account management, fund transfers, bill pay, and account alerts. Members also have access to Voice Banking and Live Chat support for convenient service.

Century Federal provides access to a nationwide network of surcharge-free ATMs through the Alliance One and MoneyPass networks, offering nearly 30,000 ATM locations across the country. Members receive free dark web monitoring, personal information monitoring, and online subscription tracking through the credit union's digital banking platform.

Question 6

What makes Century Federal Credit Union unique?

Accepted Answer

Century Federal Credit Union distinguishes itself through several notable features and partnerships. In 2025, the credit union became the official Credit Union of the Cleveland Cavaliers and Cleveland Monsters, demonstrating its deep commitment to the local community and sports culture. This partnership reflects the credit union's values of teamwork, dedication, and Cleveland pride.

The credit union's Select Employee Group (SEG) model creates strong connections with local employers and organizations, serving more than 350 workplace groups. This structure fosters a sense of community among members while providing convenient workplace-based financial services. Once someone becomes a member, they remain a member for life, even if they change jobs or relocate.

Century Federal has been recognized multiple times as one of the Best Employers on the NorthCoast99, highlighting its commitment to employee satisfaction and workplace culture. The credit union offers specialized programs including the Guy H. Thorpe Memorial Scholarship Program, which awards up to $10,000 annually to support members' educational goals.

The institution's strong financial performance is evidenced by its consistent growth over 77 years of operation. In 1997, Century Federal was ranked among the top 5 credit unions nationwide based on the return to member index, demonstrating its effectiveness in delivering value to its members.

Question 7

What type of financial institution is Century Federal Credit Union?

Accepted Answer

Century Federal Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). As a federal credit union, all member deposits are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

As a member-owned cooperative, Century Federal operates on a not-for-profit basis. Unlike traditional banks, the credit union does not issue stock or pay dividends to outside shareholders. Instead, earnings are returned to members through lower loan rates, higher interest on deposits, and reduced fees. Each member has equal ownership and voting rights regardless of account balance, embodying the credit union philosophy of "people helping people."

Question 8

How does Century Federal Credit Union support the local community?

Accepted Answer

Century Federal Credit Union maintains a strong commitment to community involvement and local economic development. The credit union actively partners with local organizations and supports charitable initiatives throughout the Greater Cleveland area.

Through its partnership with the Cleveland Cavaliers and Cleveland Monsters, Century Federal promotes civic pride and community engagement around hometown sports teams. The credit union also offers member discount programs and benefits that help maximize the value of membership.

The Guy H. Thorpe Memorial Scholarship Program provides significant financial support to members pursuing higher education, awarding up to $10,000 annually across multiple recipients. This program demonstrates the credit union's investment in the future of its members and the broader community.

Century Federal's SEG model itself contributes to community strength by serving as the financial partner to numerous local employers, government agencies, and organizations, helping to build economic stability throughout the region.

Century Federal Credit Union

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About Century Federal Credit Union in the United States