Newsletters & Communications
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