In 1955, Dr. Harry Crewson, then professor of economics and later president of Ohio University, strongly believed that Ohio University employees needed a place where they could borrow and save at reasonable rates. "In Athens in 1955, there were at least a couple of Agencies on Court Street, which specialized in lending money at high rates of interest. Also, I was aware that some of the non-academic employees at OU were going to these agencies for loans. From the outset, I envisioned a University Credit Union primarily as an organization that would provide reasonable lending and saving facilities for non-academic University employees," stated Crewson in a 1997 letter to the credit union.
While Crewson was chairman of the Faculty Advisory Council he received a credit union flier from the Ohio Credit Union League. Having a pioneering spirit and an economic background, he knew this was worth trying. With the approval of Ohio University President John Baker and $25 in hand, Crewson and Ohio University Treasurer Paul O'Brien secured a charter from the State of Ohio. OUCU officially opened for business in 1955 in the cashier's office in Ewing Hall. And so began Ohio's first state-chartered university credit union!
What began as one employee working just one or two hours a day has grown to over 100 employees in facilities open five days a week with 24-hour a day, 7 days a week access through twelve ATM machines and account access online and by phone.
By the end of the first year of operation, the credit union had 112 members and $11,879.23 in assets. We now have over 26,000 members $471 million in assets!
We remain through time, people helping people.
OUCU Core Purpose
To promote our members' financial well-being and quality of life.
Our Guiding Principles
Act in the member’s best interest
Act with honesty & accountability
Act ethically in all actions & interactions
KINDNESS & RESPECT
Include & appreciate each other
Communicate with openness, kindness & respect
Celebrate success & grow from failure
Succeed through teamwork
Support each other in our common goal
Bring people together
Do what we say we’ll do
Strive for excellence
Raise the standards