Press
Greenville Gas Turbine Employees FCU changes name to Turbine Federal Credit Union
New name ties to past while positioning for the future.
GREENVILLE, SC (March 24, 2015) — FOR IMMEDIATE RELEASE: Greenville Gas Turbine Employees Federal Credit Union announced the name change during the Annual Membership Meeting on Saturday, February 21, 2015. “The new name, Turbine Federal Credit Union, provides a bridge to the past while positioning the credit union to expand its membership beyond the original employees of GE Gas Turbine in Greenville,” said Turbine FCU Board Chairman, Preston Parker. “Companies like GE now rely heavily on contract employees for much of their production services and GE recently opened an aviation turbine plant in Piedmont, SC which made the need for a name change necessary.”
Turbine Federal Credit Union is also recruiting new companies focusing on the manufacturing sector. The credit union is the only financial institution in the Upstate of South Carolina that opens at 7 a.m. on Mondays and Fridays to accommodate third-shift workers. “Our goal is to provide service at the times our members and potential members need them,” said Turbine Federal Credit Union CEO Mark Schmidt. “Our expertise is serving manufacturing employees. Our products and services are geared to their needs.”
Bobby Davis, Chuck Foster, Bridget Nevin, Preston Parker, and Linda Watts were elected to serve on the board of directors during the Annual Membership Meeting. They will serve along with Thomas Haynes, Charles Pratt, Dorothy Jenkins-Smith and Vonda Simmons in 2015. Over 300 credit union members attended the meeting making it the largest turnout in the credit union’s history. “The attendance represented 11% of our membership which is extraordinary this day and time,” said Schmidt. “This confirms our relevancy to our membership and our commitment to meeting their financial needs.”
Turbine Federal Credit Union was chartered in 1976, as Greenville Gas Turbine Employees Federal Credit Union by employees of GE Gas Turbine to provide financial services to their co-workers. The credit union has grown to almost 3,400 members with over $24 million in assets. Turbine Federal Credit Union operates two offices in the Upstate of South Carolina. Credit unions are not-for-profit financial institutions owned by their members. The volunteer board is elected by the membership. Accounts are insured up to $250,000 by the National Credit Union Share Insurance Fund, which is administered by the National Credit Union Administration.