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Posts Tagged ‘History’

First Source Has Always Valued Our Area’s Teachers

Friday, September 27th, 2013

by Pamela Way

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During the Great Depression, banks were failing and people were losing money. There was virtually no lending, and putting money into uninsured savings was a risky venture. On March 23, 1938 a small group of dedicated Utica teachers banded together to form an alternative to the banks, as a way to help serve their peers’ basic savings and loan needs. Utica Teachers Federal Credit Union was born.

Over the years, the credit union grew and expanded to include all school districts in Oneida and Herkimer counties, in addition to all the local colleges and universities. Eventually we changed our name to First Source Federal Credit Union and expanded our charter to include a wider membership.

Founded as Utica Teachers Federal Credit Union, we certainly understand the value of education to the success of any community. In serving more than 25 school districts and 6 local colleges, we contribute to education in many ways. We have funded projects including a new state-of-the-art trading room and a nursing lab, given thousands of dollars in scholarships to local students, provided financial literacy materials and on-site seminars, participated in career fairs, supported music and sports boosters, sponsored events to raise money for classroom materials, and most recently partnered with CORE™ on an anti-bullying campaign.

Teachers are an extremely important part of our society and we plan to continue being their major financial institution (and yours!) This year marks our 75th Anniversary and we couldn’t be prouder of our heritage and our journey!

75 Years of Serving You – A Note from Our President/CEO

Thursday, August 15th, 2013

Mike ParsonsFirst Source celebrated our 75th anniversary a few weeks ago and I am so honored by the turnout we had from members, political dignitaries, and the community at large. In looking over our history, we’ve come a long way…

First Source Federal Credit Union began with humble beginnings as Utica Teachers Federal Credit Union in 1938 when a small group of dedicated Utica teachers banded together during the Great Depression to provide a safe haven for savings dollars and a reliable source of loans.

Over the years, the credit union grew and expanded to include membership eligibility for all local schools, colleges and universities. It wasn’t long before other employer groups outside of the teaching realm realized their banking needs were not being met and they could also benefit from Credit Union Membership. This eventually led to First Source gaining our Community Charter where anyone who lives, works, worships, goes to school or conducts business regularly in Oneida or Herkimer Counties can be a member of First Source.

While we have certainly seen change over the years, the one constant has been our relentless focus on you – our valued members and community. As we look to the future our pledge to you is to continue providing the level of service you have come to know and expect while growing at a steady pace, maintaining our independence and staying true to our roots.

Thank you your continued support!

-Mike Parsons
President/CEO, First Source Federal Credit Union

Thank You!
Loyal Member Angela Vanderhoof Shares Her Story

Monday, July 1st, 2013

As we celebrate our 75th year with you, we ask one of our longest-standing and most loyal supporters, Angela Vanderhoof, about her experience with First Source over the 55 years she’s been a Member. You and people like Angela are the reason we’ve been successful for so long. You really make us who we are. To thank you for everything you do, we’re celebrating our 75th anniversary with some great activities and fun in July, including barbecues at our branches, and a drawing for a diamond ring from our neighbors at Lennon’s W.B. Wilcox Jewelers. See details on the drawing here. And happy birthday to you!

Ready to make your financial life better and feel more appreciated? Let’s talk and we’ll get you started on your way to a long-term relationship.

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