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50th Anniversary News, Events & Promos

Member Appreciation Day

Members were served a special lunch for Member Appreciation Day, in celebration of the Credit Union’s 50th anniversary! Meatball sandwiches, pasta salad and cupcakes were provided. Also, insulated tote bags and baseball caps featuring our 50th anniversary logo were handed out to show appreciation to our membership.

50 Random Acts of Kindness

Olean Area FCU Employees are performing 50 Random Acts of Kindness to celebrate our 50th Anniversary! Some examples of things we’re doing include donating supplies to local schools and nonprofits, holding outdoor cleanup days, collecting and donating nonperishable items to food pantries, donating toys to children in hospitals, and donating new clothing to local children in need.

$50 for 50 Years!

Our lucky winners of “$50 for 50 years” are randomly chosen throughout our field of membership, in Allegany, Cattaraugus, McKean & Potter Counties!

Olean Area FCU Celebrates 50th Anniversary

Olean Area Federal Credit Union (FCU) is proud to celebrate 50 years of service to the community in 2022.  Over the past 50 years many things have changed and evolved, but one thing that has remained is consistency of member service and value to the community.

Originally founded in 1972, Olean Dresser Clark Federal Credit Union’s first members were employees of Dresser Clark. constructed their first full-service office location at 610 Wayne Street in 1981, with a second location opening on North Clark Street in Olean in 1990. In 1991 the credit union converted to a community charter and changed their name to Olean Dresser Clark Community FCU.

Continued growth led to the construction of a 14,000 square foot facility at 1201 Wayne Street in Olean in 1994, which remains its main branch today.

For sentimental reasons “Dresser Clark” continued to be included in the name long after the company ceased to exist. To reflect their field of membership more accurately, the credit union’s name was changed to Olean Area Federal Credit Union on February 19, 2002.

On June 11, 2018 Olean Area FCU merged with Enchanted Mountains Federal Credit Union, giving them a third location in Allegany, NY.

On July 17, 2020 their field of membership grew to include anyone who lives, works, worships, or attends school in Allegany and Cattaraugus Counties, NY and McKean and Potter Counties, PA. As well as their immediate family members, businesses, and organizations.

In February 2021, a fourth branch opened at 160 South Main Street, Portville, NY and in the fall of 2021, the credit union opened their Operations Center located at 234 Homer Street, Olean.

Embodying the “people helping people” philosophy, Olean Area FCU is involved in numerous community programs, sponsorships, and charitable gifting programs throughout its service area.

Rich Yeager, President & CEO stated, “I’m honored to celebrate with our members the 50th anniversary of our Credit Union. I am proud of the dedication of our board of directors and staff in serving our members and our communities over the years.”

To mark this year’s milestone the credit union has many community outreach efforts planned to include, “50 Random Acts of Kindness” throughout their Field of Membership. A “$50 for 50 Years” Giveaway, Deposit and Loan promotions, Quarterly Raffles, and special Member Appreciation Days to be celebrated this summer.

Olean Area FCU is currently one of the largest and most respected full-service Credit Unions in Western New York. The credit union serves over 19,000 members with assets over 390 million.

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