About Us

Our Mission:

To provide our members personal service and affordable products that meet their financial needs at every stage of  their lives.

Our Vision:

To be the financial institution of choice in the communities we serve.

Core Values:

We are member focused.

We operate confidentially and ethically.

We value our employees, encourage their development and strive to provide an outstanding work environment.

We are fiscally responsible, providing safety and security to our membership.

Our History:

Olean Area Federal Credit Union is a not-for- profit, financial cooperative owned and operated by our members. For more than 40 years, we have provided excellent service and financial opportunities to our members. From checking, savings and share certificates to our low rate installment, home and mortgage loans as well as credit cards and business products and services.

Founded in 1972, Olean Dresser Clark Federal Credit Union’s first members were employees of Dresser Clark. In 1981 the credit union converted to a community charter, which remains today. At that time "Community" was added to the name and by the year 2000, our field of membership grew to include any person who lives, works, worships or attends school in Olean, Allegany, Ellicottville, Franklinville, Great Valley, Hinsdale, Humphrey, Ischua, Little Valley, Lyndon, Portville, Knapp Creek or Westons Mills and members of their immediate family.

For sentimental reasons "Dresser Clark" continued to be included in our name long after the company ceased to exist. To more accurately reflect our field of membership, our name was changed to Olean Area Federal Credit Union on February 19, 2002. Although we were very proud of our prior name, a name change was long overdue. Thanks to the support and trust of our members, we continue to provide the same quality financial services to our membership that we have for over 40 years.

On June 11, 2018 we merged Enchanted Mountains Federal Credit Union, giving us our third location. The office is full service and houses a depository ATM. This brings us to just over 55 employees. Olean Area Federal Credit Union is currently one of the largest and most respected full-service Credit Unions in Western New York.

Our Leadership:

Our Board of Directors is comprised of a group of volunteers elected by our membership who oversee the overall operations of the credit union. Our Supervisory Committee are volunteers appointed by the Board of Directors, who work in conjunction with them to ensure the credit union’s soundness and stability. In 2017, we established a volunteer Education Committee, also appointed by the board of directors, to learn the background of the credit union and work with the Board and Supervisory Committee.

Credit Union Annual Reports:

Annual Report 2018

2017 Annual Report

2016 Annual Report

2015 Annual Report

2014 Annual Report

2013 Annual Report

Community Involvement:

Olean Area Federal Credit Union is committed to the communities in which we serve. We are involved with many local charities and organizations through financial support, staff volunteers and participation as well as providing three scholarships annually to local youth.