Newsletters & Communications

NEWSLETTERS:

COMMUNICATIONS:

May 2019 – Olean Area Federal Credit Union Awards Scholarships to Members. 

Olean Area Federal Credit Union has awarded college scholarships to three area high school seniors to help finance their college education.

The students, members of the Credit Union, were chosen based on their outstanding academic and extracurricular achievements.

“We are very pleased to award these scholarships to our hard-working young members,” said Stephen Foster, CEO.  “It proves that the ‘people helping people’ philosophy of the credit union movement is alive and well here in our community.”

The high school seniors who received the awards were: Christine Pagett from Portville Central. Christine also received the Chapter and State awards for her achievements. She plans to attend Ohio State University. Lauren Schifley and Meghan Brink from Allegany-Limestone. Lauren plans to attend Canisius College and Meghan plans to attend SUNY Albany.

Feb 2018 – Enchanted Mountains Federal Credit Union Plans Merger with Olean Area Federal Credit Union

Olean Area Federal Credit Union’s CEO, Stephen Foster announces the merger of Enchanted Mountains Federal Credit Union into Olean Area Federal Credit Union.

The merger was first approved by the National Credit Union Administration on December 28, 2017, and then overwhelmingly approved by member vote of Enchanted Mountains Federal Credit Union membership on January 26, 2018. “We are extremely excited about the merger and feel there are advantages to members of both organizations,” says Foster.

Sheila Rees, President & CEO of Enchanted Mountains Federal Credit Union stated, “Increased costs of technology prohibit a smaller institution such as ours from the ability to offer services such as mobile deposit and ATM’s. We are pleased in the vote and that our members will become part of an organization that has the same commitment to the community as we do.”

A June 11, 2018 merger date has been set with an informational mailing going out to members in March. Additionally, member information will be posted on the home page of both credit union websites: oleanareafcu.org and enchantedmountainsfcu.org.

Olean Area FCU is the 2nd largest credit union in Western New York, with assets of $269 million. The credit union currently serves over 17,800 members with two locations on Wayne Street and North Clark Street in Olean. Enchanted Mountains FCU with assets of $12 million has a membership of just over 1,000.

Feb 2017 – A Message from Our CEO, Brian Snyder

After working 45 years in our local financial community. It is with mixed emotion I announce my upcoming retirement on December 31, 2017.

This decision is bittersweet for me. I enjoy the personal member contact and the fulfillment of making someone’s life easier due to a product or service we provide.  I truly believe that personal touch and the relationships you build are what make an organization successful; it’s certainly worked for me over the years.

However, on the sweet side, I look forward to spending time with my family.  Without their support during my career, which included long days devoted to member/customer service and service to our community, I would not have achieved my goals. Again, I am very lucky.

During the next few months, the Board is responsible for finding a new CEO, one who is the “best fit” to continue the quality of service that our credit union team is known for and who will provide leadership to both our employees and membership into the future.

Pat Kelly, Board President stated, “We’re thankful for Brian’s leadership as CEO for the last 12 years, as his dedication to servicing our member’s exemplifies the credit union philosophy where the focus has been and will always be serving our members. Brian is very proud of his service to the community and the personal and business relationships he’s developed. Brian will work closely with the new CEO, making his/her transition into the organization a smooth and enjoyable experience.”

Jan 2017 – Attn: Credit Union Credit Card Holders

We are bringing our credit card program “in house” in February. Watch for correspondence and your new card(s) in the mail. Please activate your card upon receipt, however it will not work until Monday, February 20th at approximately 9am. Your old card will expire at 11:59am on Sunday, February 19th.

Jan 2017 – New Coin Machine Installed

We are happy to announce that a new coin machine has been installed at the Wayne Street location. This machine is designed for occasional use and is NOT for commercial use. To keep our machine in good repair, we ask members to adhere to the following guidelines:

  • Coin containers must weigh 10 lbs. or less
  • Maximum 2 container limit per day
  • Coin must be free of debris (bolts, screws, washers, tokens or other foreign objects)
  • Coin must be completely DRY