Tri-Valley Services Federal Credit Union obtains community charter with National Credit Union Association (NCUA) approval
PITTSBURGH, PA (November 4, 2020) — Tri-Valley Services Federal Credit Union (TVSFCU) was approved this October by the National Credit Union Association (NCUA) to change to a community charter. With this approval, TVSFCU will expand its membership to serve persons who live, work, study, volunteer, and worship in the following municipalities of Pennsylvania; Baldwin Township, Borough of Crafton, Borough of Dormont, Borough of Dravosburg, City of Duquesne, Borough of Green Tree, Borough of Heidelberg, Borough of Homestead, Borough of Ingram, Borough of Mt Oliver, Borough of Munhall, City of Pittsburgh, Borough of Rosslyn Farms, Borough of West Homestead, Borough of West Mifflin and Scott Township.
Bill Peduto, Mayor of Pittsburgh, stated that more than 10% of Pittsburgh residents have no bank account and another 19% rely heavily on risky alternative financial tools such as payday loans, check-cashing shops, and rent to own arrangements. This represents more than 130,000 households living without financial security.
“The credit union mission, ‘people helping people,’ drives us to play a part in correcting the situation. Credit unions were established to promote savings, thrift and provide people of limited means access to credit,” explained Carol Mattesi, CEO of Tri-Valley Services Federal Credit Union. “Tri-Valley Service FCU has had great success with low-cost personal loans and plans to offer those to the general public. This will help the underserved public refrain from turning to payday loans and check-cashing shops, especially during high spending times like the holidays.”
TVSFCU is excited to have the opportunity to grow the credit union and expand their financial services to help the community, specifically the people who are unbanked or underbanked. A community charter allows TVSFCU to continue to offer the low cost, high-quality products that will be of great value to the community, while also creating future growth and sustainability for the credit union. With the ability to welcome in a larger membership range, TVSFCU will have the opportunity to expand its products and services offerings to fit its current membership and new membership.
“At Tri-Valley Service FCU, we are also committed to putting members into the best loan option for them, not just the loan that will make us the most money. We look at each individual situation and underwrite accordingly,” said Carol Mattesi.“We don’t just make all of our loans fall into a predefined bucket.”
Although TVSFCU plans to continue growing as a credit union, their mission statement will always stay the same “Big enough to serve, but small enough to care.”
About Tri-Valley Services Federal Credit Union
Since its inception in 1950 the TVSFCU has been serving its members in the Pittsburgh, Pennsylvania area with exceptional financial products. TVSFCU has grown its membership to over 3,800 with assets of more than $16,072,968. Once joining, members are members for life! Tri Valley Service is big enough to serve, yet small enough to care. Learn more about Tri Valley Service FCU here: https://trivalleyservice.com/