What’s in a Name?
25 years ago we became First Source
On Tuesday, July 11th we commemorate the 25th Anniversary of our name change from Utica Teachers Federal Credit Union to First Source Federal Credit Union.
We were founded in 1938 as Utica Teachers Federal Credit Union, born out of the necessity to provide financial assistance for educators in our area. In the midst of the depression, teachers found it difficult to secure credit, so 11 teachers applied to the National Credit Union Administration for a credit union charter, and Utica Teachers FCU was born.
Growing With You
As the years passed and product and service lines grew, so too did the employee groups we served. In 1992, our broader membership—many outside the teaching profession—prompted us to change our name to First Source Federal Credit Union. In 2008, our membership expanded again to include anyone who lives, works, worships, or attends school in Oneida or Herkimer Counties. Today, we proudly serve more than 40,000 Members, with just under $500 million in total assets, substantial growth from 1992, when we had roughly $50 million in assets.
On July 11th, we’ll have coffee and treats, as well as “pay-it-forward” Member-appreciation giveaways throughout the day. Each branch will be giving away $10 each to ten randomly chosen Members throughout the day—in denominations of two $5 bills. We hope that you’ll enjoy your $5 bill, and give the other $5 bill to someone else (paying it forward). Buy them a cup of coffee or a lotto ticket, donate it…it’s your choice! It’s just a small way to say that we appreciate your membership, and that every time we help you and the community, the goodness spreads.
Thank you, and if you happen to be chosen at random for one of our gifts, enjoy!