PCCU Celebrates 85 Years of Service

Eighty-five years ago, the Great Depression left working families in Wayne & Henry Counties without access to credit or a sound institution for saving money. The Teetor Family, owners of the Perfect Circle Piston Ring Company, saw the burden this put on their employees and urged them to form a credit union. The employees organized a board of directors and with sixteen original members Perfect Circle Credit Union was granted a certificate of organization on March 28, 1932, more than two years before President Franklin D. Roosevelt would sign the Federal Credit Union Act.

Membership was extended to employees in the New Castle and Tipton plants in 1934, which allowed the credit union to grow, as did the inclusion of the Richmond plant employees in 1945. When the Dana Corporation later purchased Perfect Circle it added growth outside of Indiana as membership was offered to employees at a number of Dana plants.

Management of the credit union remained with PC employees until the early 1970s, when professional staff were hired, though the offices remained in the Hagerstown PC plant until 1988. By that time the size of the membership and their service demands required that the credit union build it’s own office outside of the factory. Branches were then added in Richmond and New Castle in 1993 and 1998 respectively.

In 2003 PCCU’s field of membership was opened to allow anyone living or working in Wayne & Henry Counties to join. Then another branch was added in 2005, followed by Saturday hours in 2007. In response to the changes in the area and the challenges of the Great Recession the Richmond branches were consolidated into one office at the end of 2010, with every last employee retained.

PCCU is the oldest credit union in Wayne & Henry Counties because of the loyalty of it’s membership. Though we’ve had to adapt to the challenges of the day, our commitment to serving our members has never wavered. Regardless of what the future holds, our service to our membership and their dedication to the credit union will enable us to move forward and meet it with confidence. Thank you for your continued membership, please pass on the tradition of membership to the next generation. We’re ready to help them get a good start, with financial education and helping build their credit, so they can earn their American dream.

Remember to join us at the branches on Tuesday, March 28th, 2017 as we celebrate PCCU's eighty-five years of service with cake and ice cream, as well as a gift for the first eighty-five members who visit each branch that day.!

Looking For A Chance to Make Some Change? 

Credit Unions represent what's best about America, people from different walks of life coming together to help one another improve both their own lives and communities. Where everyone contributes what they can and allowing everyone who participates to benefit in one way or another; in short, a not-for-profit, member owned, and democratically controlled co-operative.

I'm Clint Hardin, your current Chairperson of PCCU's Board of Directors. I've found volunteering here is challenging, but rewarding. It's given me numerous chances to grow personally and professionally. Knowing that my service makes a real and lasting difference for my fellow members and our communities feels great! If you'd like to get involved and bring your energies and talents to the table we'd love to have you.

You can serve PCCU in one of two ways. First, there's the seven member Board of Directors that I serve on. We're elected annually by the membership to help chart the direction of PCCU and be advocates for the concerns of our fellow members. Second, there's the three member Supervisory Committee that oversees the work of both the Board and the management of the credit union. They are also elected by the membership. You can find more information about both roles here.

Good, responsive governance is key to PCCU's continued success. I'm sure if you contribute your time and efforts to guiding the credit union forward into the future you'll feel as rewarded and fulfilled as I have. Knowing what an impact you've had on the lives of your fellow members and the difference you've helped make in their communities is priceless.

If you're interested in learning more I and the Nominating Committee invite you to complete the online information form, by Friday, January 20th. Completing the form does not commit you to serving; it gives us the chance to provide you with necessary details about what serving as a PCCU volunteer is like. We appreciate your time and consideration.


Clint Hardin
PCCU Board of Directors


EMV Debit Cards Delayed


After we went to press on the quarterly newsletter that accompanies our quarterly paper statements we found out that the EMV debit cards would be delayed past January. At this time our vendors' programmers are working on correcting the issue so that we can order a new round of sample cards. Then we can test them and insure that they meet our standards and our members can rely on them before we authorize full production.

We apologize for the delay but we don't want to add any more difficulty to the transition for you, or expense, by sending you untested cards. If you have a debit card that is due to expire at the end of January (an expiration date of 01/17) you should receive a new non-EMV card this month. You can go ahead and activate it and use it until you receive an EMV debit card.

You can find updates about EMV debit cards here on our site, and in future issues of your PCCU eNews. We appreciate your patience and understanding.



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