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| Saratoga's
Community Federal Credit Union formerly
Saratoga Teachers Federal Credit
Union was founded (chartered) back in 1945
by a small group of teachers in the Saratoga Springs Public School System. Salaries were
quite low back then and it was felt that a Credit Union would enable its members to save
regularly and borrow confidentially should the need arise. The identity of the prime mover
who promoted this Credit Union concept is no longer known for a certainty, but among the
early members and volunteers who served unselfishly we recall the names of Julius Moncsko
(first President), Holger Van Aller (first Treasurer), Atwell Meade, Mary Naylor, and
Bertha Stoddard. For those of you who dote on statistics, at the end of 1946 the
Treasurer's Report indicated that the Credit Union was "in the red" $55.23! But
the Credit Union spirit of people helping people was evident even then, for one of our
teacher members held a card party and raised $101.39 which was donated to the Credit Union
to keep it solvent. Credit Unions really are different - and they always have been. |
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For some 40 years the Credit Union was located either in a surplus area
set aside for our use by the Saratoga Springs City School District, or it could have been
found in the home of the in-office Treasurer. But in the mid 1980's another bold move by
the Board found the credit union purchasing its own building located in downtown Saratoga
Springs. At last we were totally independent, even though 1/2 of our new home was rented
out to a hair stylist. Before long our tenant moved out and we began a series of
remodeling adventures which were coupled with the addition of state-of-art computer
facilities and many other forms of high tech business machines.
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Although we were pleased with our location and our facilities and our staff, we were
looking to the future and making plans to continue our history of growth and the provision
of innovative services to our members.
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 In early 1998, the credit union was approved a community
charter by its regulator NCUA. This now allowed the credit union to accept new members by
means of anyone living or working within the boundaries of the
Saratoga Springs Enlarged City School District. With the new definition of membership, the Board of Directors and the NCUA approved the name
change from Saratoga Teachers Federal Credit Union to the Saratoga's Community Federal
Credit Union in September 2000.
| Our history continued to move forward with the renovation project of the
23 Division Street facility. This project started in early 2001, with the actual
construction beginning late June early July. The project was completed in
the middle of
December with a ribbon cutting ceremony held on January 8, 2002. The facility was brought
up to current code, and provides more member privacy as well as housing a new 24 hour ATM
machine and secured night depository.
Our latest endeavor was our charter expansion. On February 28,
2002, the credit union received approval by NCUA and the Board of Directors to
expand the charter to include; Persons who live, work, worship, or
attend school in and businesses and other legal entities located in Saratoga County, New
York. This now enables us to provide our full range of low or no cost
financial services to more individuals throughout our entire community.
"Together We're Better!"
We continue to look to the future on ways that we can improve our level
of service to our membership.
Small enough to know you...
Large enough to serve you. |
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Membership Eligibility |
Persons who live, work, worship, or attend school in and businesses and other legal entities located
in Saratoga County,
New York.
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Credit Union Facts |
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As of
December 31, 2007
Assets:
$27,024,789
Members: 4,948
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As of December 31,
2006
Assets:
$24,679,438
Members: 4,925 |
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