CELCO FEDERAL CREDIT UNION

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CELCO FEDERAL CREDIT UNION
P.O. Box 361, 3381 Virginia Ave.
Narrows, Virginia 24124

Office Hours (including Drive-in Windows)
8:00 a.m. to 5:00 p.m., Monday thru Friday.

Telephone: (540) 921-2700
(540) 726-8038
Toll Free: 1-(888) 921-2701

Teller Lines 921-8139
Loan Department 921-8138
Bookkeeping 921-8137
Collections 921-8136
Audio Teller 921-1872
or
1-800-932-9284

HISTORY AND PURPOSE

In 1956, a group of Celanese employees held an organizational meeting and applied for a charter to operate a credit union. The application was approved and a charter issued. On August 28, 1956 Celco Employees Federal Credit Union opened its doors for business.

From its beginning, Celco Credit Union has been a vital part of the community, helping many people with their financial needs. Ninety percent of Celanese employees are members of the Credit Union.

From the onset, the prime purpose of the Credit Union has been to encourage thrift among its members with payroll deduction savings, low interest loan rates and other financial services.

The Credit Union is a non-profit organization, owned and managed by and for its members.

Celco Federal Credit Union has taken an active part in organizaing several credit unions including Virginia Tech Employees Federal Credit Union, Giles Memorial Hospital Employees Credit Union, Giles Education Association Employees Federal Credit Union and GEG Federal Credit Union. In 1972, Giles Memorial Credit Union merged with GEG Federal Credit Union. In 1988, GEG Credit Union merged with Celco Federal Credit Union. They are included in our field of membership.

The slogan, "Once a member, Always a Member" gives the membership the freedom to live anywhere in the world and Celco Federal Credit Union can still meet their financial needs.


ORGANIZATION AND MANAGEMENT

A seven member Board of Directors elected by the members governs Celco Federal Credit Union. Directors are elected at the credit union Annual Meeting and are elected to serve three-year terms.

The Board is responsible for the general management of the affairs, funds and records of the Credit Union. They meet on a regular basis to decide on dividends, loan interest rates, lending policies and other credit union matters or concerns. The Board officers include a president, vice-president, treasurer, secretary and directors.

The Board also appoints Loan Officers and the Supervisory Committee. The Supervisory Committee conducts regular audits to assure that all accounts are in order. The Loan Officers approve or reject loan applications. Volunteers serve on various committees to inform the members of the man y services that Celco Federal Credit Union offers. The Board of Directors appoints them.

Through the efforts of all these people, the Credit Union is able to be responsive to its members.

Transactions are processed in a prompt, professional and confidential manner. Credit Union officials, representatives and staff are pledged to maintain the confidentiality of the financial affairs, transactions and personal information concerning the members.