Greater Warren Credit Union

Description

The credit union was founded by employees of Copperweld Steel Company in 1941. Open only to employees, it offered basic savings accounts, and car and personal loans. The original name was Aristoloy Federal Credit Union. It operated for 35 years in same manner in an office in the steel mill and with membership restricted to employees and retirees, grew to $7 million in assets and 3500 members.In 1976 the credit union built an office on Mahoning Ave. in Warren Twp adjacent to the mill and added "full family membership." Financial deregulation in 1977 allowed many changes. The credit union began to offer "share drafts" or checking accounts. While it took 35 years to get to $7 million, it only took another 8 to grow to $17 million.In 1984 the credit union began to diversify membership by taking in other "select employee groups " of other businesses and their families. There were also many companies going out of business in the area, and the credit union merged several failing credit unions.

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