Pierce Federal Credit Union History
In 1959, to promote savings, 12 employees of the Pierce Glass Company pooled together $75.00. They opened the first savings accounts in their informal savings institution; which was originally located in a private home next to what is now the Jubilee Supermarket, in Port Allegany.
In 1962, these 12 became the founding members of the Pierce Federal Credit Union, with an original membership of 150. Each member deposited $5 per paycheck, and loans were granted in the amount of $200 payable over a 6 month period. Three of the original 12 members still are active in our membership today!
In 2000, the Viko Employee Credit Union merged with Pierce Federal Credit Union and became our branch office. This office is located inside the Ethan Allen factory in Eldred, PA. All members can take advantage of credit union services at either the main or branch office.
We are fortunate that our sponsor companies are very supportive, and provide us office space within their buildings at no expense to the credit union.
In early 2009, Ehtan Allen closed their Eldred plant, so at this time our office at the St. Gobain plant is our only office.
Today, the credit union has $2.6 Million in assets and approximately 1,050 members. While still considered to be a small credit union, we offer a multitude of services to our members. Member service is our highest priority!