'Credit Union Makes Strides in East Central Ohio

The Times Recorder has been a staple of the Zanesville community for decades, and one credit union that has made significant strides in serving the financial needs of its members is the Perry County Federal Credit Union. With a history spanning over 60 years, the credit union has grown to over $180 million in assets, serving over 14,000 members. According to Patty Stevens, CEO of the credit union, "We've come a long way since our humble beginnings, but our commitment to providing excellent service and investment remains unwavering."

The credit union has made significant contributions to East Central Ohio, providing financial education and resources to local communities. In recent years, they have implemented innovative programs, such as student loan repayment assistance and financial counseling for first-time homebuyers. "Our primary goal is to make financial education accessible and convenient for everyone, especially in underserved communities," says Stevens. "We understand that financial literacy is key to breaking the cycle of poverty and promoting economic growth."

In addition to providing financial services, the credit union has also demonstrated a commitment to community development through partnerships with local businesses and organizations. In 2020, they partnered with the Zanesville-Muskingum County Community Improvement Corporation to provide financial resources and expertise to small businesses across Muskingum County. "We believe that by working together with local stakeholders, we can foster economic growth and stability that benefits everyone," explains Stevens.

One notable example of the credit union's commitment to community development is its $10,000 mini-grant program for small businesses. This program provides funding to entrepreneurs and small business owners in East Central Ohio, enabling them to develop and expand their businesses. In 2022 alone, the credit union awarded five mini-grants to local businesses, totaling $50,000. "This program has been instrumental in supporting the growth of our local economy," notes Steve Lloyd, Economic Development Officer with the Zanesville-Muskingum County Community Improvement Corporation.

Another significant achievement of the credit union is its advocacy efforts on behalf of its members. By working closely with local, state, and national policymakers, they advocate for policies that support consumer protection, banking regulation, and the economic well-being of its members. According to Chris Fairchild, a long-time credit union member and advocate, "Perry County Federal Credit Union's advocacy efforts have been instrumental in shaping policies that benefit consumers and small businesses, ultimately leading to increased economic growth and stability in our community."

Today, the Perry County Federal Credit Union proudly remains one of the largest financial institutions in East Central Ohio, serving a diverse membership that extends across the region. With a top-notch team of financial professionals, state-of-the-art technology, and an unwavering commitment to its mission, the credit union continues to expand its reach and service offerings to better meet the growing needs of its members.

A Brief History of the Credit Union

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The Perry County Federal Credit Union was established in 1964 by a group of local government employees who wanted to create a financial institution that would serve their needs. The credit union started with just over 100 members and $10,000 in assets, and was located in a small storefront in Zanesville. Throughout the years, the credit union has grown and evolved, expanding its membership, services, and scope of operations.

In 1974, the credit union opened its first branch in New Concord, Ohio, and continued to grow and expand its services throughout the 1970s and 1980s. In 2000, the credit union merged with the York Township School Employees Credit Union, adding another 500 members to its roster. The merger provided an opportunity for the credit union to expand its services to a broader audience and solidify its presence in the community.

Today, the credit union operates under the leadership of Patty Stevens, who was appointed CEO in 2018. Stevens, a 25-year veteran of the industry, brings a wealth of knowledge and experience to her role, having worked with numerous financial institutions across the region.

Expansion of Services

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Under Stevens' leadership, the Perry County Federal Credit Union has made significant strides in expanding its services and product offerings. In 2020, the credit union launched its Business Services Department, providing members with access to commercial lending, cash management, and other business solutions. This move has provided small businesses and entrepreneurs with a reliable source of funding and financial expertise, allowing them to expand and grow.

One key initiative under Stevens' leadership is the credit union's focus on digital innovation. In 2020, they launched an upgraded online banking platform, providing its members with streamlined access to their accounts and financial information. The platform, which features advanced digital security features and mobile banking capabilities, has been widely adopted by members, with some notable feedback: "The new online banking platform has been a game-changer for me," notes Sarah Morris, a local business owner. "I'm able to manage my finances and account from anywhere – it's been incredibly helpful."

Financial Counseling and Education

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Perry County Federal Credit Union recognizes the importance of financial literacy and offers its members access to comprehensive financial counseling and education programs. The credit union partners with trusted experts and practitioners to provide personalized coaching and guidance to its members. According to Kathy Conway, a financial advisor with the credit union, "Many of our members are struggling with significant financial stress, including debt and lack of savings. Our counseling programs empower them with the knowledge and tools they need to make informed financial decisions and achieve long-term stability."

Student Loan Repayment Assistance

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In recent years, the credit union has launched an innovative program aimed at assisting its members in repaying student loans. The program, which features a comprehensive platform and additional resources, has been met with high enthusiasm from members, with some notable feedback: "This program has been a huge help to me and my family," notes Brian Trapp, a credit union member. "I finally feel like I can manage my debt and start building a stable financial future for myself and my loved ones."

Community Investment

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One of the key initiatives of the Perry County Federal Credit Union is its commitment to community development. The credit union understands that by investing in the community, it can foster growth, stability, and economic progress that benefits everyone. In 2020, they partnered with the Community Development Financial Institution (CDFI) to launch the Newcomer's Investment in Local Capital (NAILC) program. The NAILC program provides grants and loans to entrepreneurs and small business owners in underserved communities, placing a specific focus on female- and minority-owned businesses.

"This program is essential for the growth and sustainability of our community," notes Patricia Jones, Director of the CDFI. "We appreciate the credit union's commitment to social responsibility and their dedication to empowering under-resourced populations with access to the capital and markets they need."

The future looks bright for the Perry County Federal Credit Union, with ongoing initiatives aimed at further enhancing its operations, community outreach, and internal development. This steadfast commitment is testament to the determination of its board and management team to positively impact the lives of its members, foster economic growth, and stay at the forefront of one of the most customer-centric and community-focused service-based organizations in East Central Ohio.