History
HISTORY

 

  • Chartered in 1935 to serve the employees of Niagara Mohawk Power Corporation in the Albany and Hudson districts. The original name of the CU was New York Power & Light Service Building Employees FCU.

  • In 1951, the name was changed to Niagara Mohawk North Albany Employees FCU & and in 1979, it was shortened to Niagara Mohawk Albany FCU

  • In late 1977, the N.M.P. Albany Administrative FCU, located on State Street in Albany, merged with our Credit Union

  • The CU office was located at 1125 Broadway - Niagara Mohawk's regional headquarters - for most of its history until 1996. For the last 10 years that we were headquartered on Broadway, the CU occupied only about 600 square feet of space, essentially in 1 open room.

  • In 1995 the CU purchased the building at 20 Wade Road and moved its headquarters after an extensive renovation project. It opened for business at our present location on July 1, 1996

    In January of 1996, in anticipation of the move and extending the field of membership to employer groups outside of Niagara Mohawk, the name was changed to Community Resource FCU.

  • Patrick O'Rourke, for whom the Board room is dedicated, served the longest term as President of the CU's Board of Directors from 1964 until 1994. He remained a Board member until his death in June of 1996, a few weeks before the move to our new building.

  • Services added when we moved: cash operation, ATM machine, night depository, travelers checks. Evening and Saturday hours were added in June of 1998.

  • Select employer groups (SEGs) began to be added in July of 1996. As a result of a lawsuit filed by the banking associations, an injunction was placed in October of that year preventing credit unions from adding other employer groups. Before this was imposed, 45 groups had been added to our field of membership.

  • In order to easily serve as many members as possible, the Credit Union applied for a community charter which was approved in July of 2000. This enables anyone who lives, works, worships, or attends school in Albany County to join, as well as family members of those eligible.

  • The Credit Union is governed by a
    7-member Board of Directors
    .
    • There is also a 5-member Supervisory Committee;
    • All of the Board and Committee members are volunteers. The Directors are elected each year at the Annual Meeting. The Supervisory Committee is appointed.