Our history of "people helping people" can be traced to January 2, 1942 - with the chartering of Beaver Valley Federal Credit Union (then B&W Employees Federal Credit Union).
At that time membership was opened to those employed in the local plants of the Babcock & Wilcox Tubular Products Group and to their immediate families. And, since then, our member-owned and democratically operated credit union has grown from vest-pocket size to become one of Pennsylvania's largest.
These and other highlights have occurred over the years:
We dedicated our new Beaver Falls office building, making it possible to fulfill a growing membership's need for expanded services.
A two-story building addition was completed.
We opened our charter to incorporate other membership groups.
Our Bridgewater branch office started operations, and the organization's name was changed to Beaver Valley Federal Credit Union.
We applied to the National Credit Union Administration (NCUA) to change our charter designation from "Multiple Group Common Bond" to "Community". This change in our field of membership designation allows BVFCU to offer credit union services to many people in Beaver County who had not had the opportunity to join a credit union in the past.
Since our credit union's inception, it has experienced recessions, wars and prosperity. Inflationary effects of an energy crisis, and roller coaster-like interest rates, have also presented challenges. Nevertheless, Beaver Valley Federal Credit Union has proven its financial strength and has continued its growth in large measure because of our maximum interest paid on savings, our loans carrying lower rates, and our real attentiveness.
Today, Beaver Valley FCU serves almost 10,000 members and has about $100 million in assets. The credit union has 29 employees to handle day-to-day transactions at its two locations, Beaver Falls and Bridgewater.
Beaver Valley Federal Credit Union is one of 349 such financial institutions in the Commonwealth that serve more than 4 million members. Pennsylvania credit unions together hold assets of more than $62 billion.
It's predictable that our people will be helping people on into an even better future. Here's hoping you'll be among those we serve.