The Family First Story

During the 1960’s credit unions were beginning to pop up in educational circles. Penfield’s founders met with the President of West Irondequoit Teacher’s Federal Credit Union, embracing the concept of “people helping people.” 

March 6th, 1969 our charter was officially approved

They whole-heatedly believed in this grass roots opportunity to develop an alternative to the impersonality of commercial banks, while providing low cost financial services to fellow employees. In February 1969, in the home of teacher Dick Dennison, Penfield Central Federal Credit Union (PCFCU) was born, chartered to serve the employees and their families of the Penfield Central School District.

In September of 1980, 4 private schools (Our Lady of Mercy High School, St. Joseph’s School, Harley School and Allendale-Columbia) joined our charter. Because of the size of the schools, it was not cost effective for them to form their own credit union.  Joining an already established credit union had more benefits and ease for them.

In Apri1 of 1983, BOCES (Board of Cooperative Educational Services) Federal Credit Union merged with PCFCU in an effort to relieve their financial difficulties. BOCES was a 1.4 million-dollar Credit Union with 1,300 members, and the merge with PCFCU provided their members with additional services.  PCFCU was interested in growing and welcomed the merger.

With the recent growth beyond the Penfield Central School District, it was decided that a name change was in order. So in March of 1984, the “Central” was eliminated from the name, leaving us with the name of Penfield Federal Credit Union (PFCU).

Location, Location, Location...

We have had, quite literally, several homes throughout their history.  The first few years saw transactions taking place in three of our first President’s homes.  Most notably during the Mid 1970’s, in former President/CEO Len Szumiloski’s den.  As the story goes, members waiting to be serviced, took a place in Len’s den. While waiting their turn, Len & Molly’s children entertained members by reading stories or playing games before bedtime. Proudly the credit union remains a family tradition with many relationships formed in that den still strong today.

In the 1980’s Penfield Federal Credit Union’s membership outgrew its down-home surroundings and moved to the Denonville Middle School. With membership rising to over 14,000 members, the building could hold no more. So, in 1995 Penfield Federal Credit Union, with over 150 schools, social service agencies, small businesses and community groups offering credit union eligibility to their affiliates and family members, took advantage of another opportunity to grow. With a new look and the construction of what now serves as the main branch and headquarters at 2520 Browncroft Boulevard in Penfield, things were definitely happening.

Keep On Growing

With increased membership, came the increased responsibility to maintain the very best in service and member satisfaction. In the spring of 2000, Penfield celebrated the opening of its first branch in Perinton to accommodate more than 185 eligible groups.

In 2002, we saw a major change in the foundation of our organization as we converted from membership being based on employment groups to the current criteria based on geographic location. Now, anyone who lives, works, shops, worships, or goes to school in Monroe County can become a member! With this change, we also found it necessary to once again reevaluate our name. Since we now had a member base that extended far beyond the Penfield area, it was decided to create a name that was not descriptive of one area, but rather, more inclusive and fitting based on our philosophy to put the "Family First."

Our latest growth saw our third branch go up in the middle of the Webster community. We created a beautiful facility with a customized play area including a "tree house" based on our mascot Saver Squirrel and the Saver's Club Kid's Accounts.

As Family First looks to the future, it seems ripe with potential. Equipped with a visionary board and perceptive management, we are excited about where we are headed. As our membership continues to grow, we thank those who have helped us get this far and invite others to join in and become a part of the family.