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Century Heritage - Serving the Mon-Yough Area Since 1936
Our History
The year was 1935; America was still recovering from the effects of the Great
Depression. Credit union organizers all over the country had been working for
more than a dozen years to spread the word to average workers that they could
take more control of their financial lives by forming a credit union.
Forty employees of the Duquesne Works mill of U.S. Steel saw the potential
in this concept. After much discussion and work, they pooled $240 of their savings
and applied to the federal government for a credit union charter.
Their goal was to create a financial institution that they would own, a place
where they could save and make small loans to each other. They received approval
of their charter request and began operations on June 10, 1936.
By the end of the first year, the credit union had grown to 630 members and
held nearly $15,000 in assets. Your membership helps us to continue this tradition
of service to the Mon-Yough area.
Our Focus Is Our Community
Unlike many other financial services providers in our area, Century Heritage is
focused solely on serving the Mon-Yough and Turtle Creek Valleys. We are not a
division of some out-of-state conglomerate. We are a financial cooperative owned
by and operated for the people in our area.
This focus has enabled Century Heritage to grow into the largest, locally-owned
financial institution based in the Mon Valley. Since our staff, management and
directors all live, work and worship here, we have a personal stake in the future
of our area. We like to say that big banks have branches, but we have roots.
Our Difference Is In Our Structure
Century Heritage is a not-for-profit and member-owned financial cooperative. This
means any earnings in excess of what is necessary to cover operating expenses
or to fund required reserves is returned to our members.
Other types of financial institutions have to meet the earnings expectations
of their stockholders, sometimes at the expense of their customers. At Century
Heritage, those two groups of people are blended into one - you, the member/owners!
Our only purpose is to help our members reach their financial goals.
Follow this link What Is A Credit Union to
learn more about the credit union difference.
Our Future
At Century Heritage, we're excited about the possibilities the future brings as
we help to rebuild our area. On the lighter side, here are some excerpts from
letters we received after a visit from a local 5th Grade class:
I learned about saving money, interest, shares, loans, and if you put in
money, you have part ownership. - Corey
I think when I grow up I want to work at a credit union. I love counting
money. - Ashley
Thank you for inviting us to the credit union. I'm pretty sure we all had
fun and were interested. - Sarah
A credit union is a cool idea, I mean the system. Thank you for your time
and candy! - Mike
I really think the credit union was interesting. My mom made me read all
the pamphlets. - Ben
I really learned a lot. I hope you guys don't get robbed. - Drew
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