Company Profile
Fiberglas Federal Credit Union
Company Overview
Fiberglas Federal Credit Union is a not-for-profit financial cooperative that was established by the employees of Owens Corning in 1940. Today, Fiberglas FCU serves over 160 companies and their family members with offices in Newark, Heath and Granville, Ohio. At Fiberglas Credit Union, we do not have stockholders like a bank. Our profits go back to our members in the form of better rates and no fees on several services. Our volunteer Board of Directors is elected by the membership every spring and work without pay.
Company History
The employees of Owens Corning Fiberglas formed Fiberglas Federal Credit Union in 1940. Fiberglas Federal Credit Union is an occupational credit union. It has grown from 25 members to over 15,000 members with assets of over $113 million.
In the mid-eighties, the Board of Directors for Fiberglas Federal Credit Union voted to allow the credit union to offer their services to other occupational groups called Select Employer Groups. Between 1987 and 1997 Fiberglas Credit Union expanded their field of membership to include 47 other employer groups.
In 1998 Congress passed and President Clinton signed new legislation, The Credit Union Membership Act (H.R. 1151) that guarantees membership opportunities to over 60 million Americans. With this new opportunity, Fiberglas Federal Credit Union again began expanding in early 1999. Currently we have 150 Select Employer Groups.
As a federal chartered credit union, Fiberglas Federal Credit Union is a member-owned cooperative. Our purpose is to promote thrift among our members and to make loans to members from these collected savings. Fiberglas Federal Credit Union is not in business for profit. Service to our membership is our only mission. In this sense, we are a unique financial institution.
We are a corporation chartered, regulated and insured by an agency of the federal government, the National Credit Union Administration (NCUA).
Notable Clients
Owens Corning