History | Board & Staff | Mission Statement
of Upper Darby Belltelco Federal Credit Union
Eight Bell Telephone employees who had the vision of providing financial services to their colleagues formed the credit union in 1941. The initial offerings were share accounts and small loans. Instead of payroll deduction, collectors visited various offices and garages to get deposits for as little as $0.25 per week and loan payments of $2.00 per week.
The credit union experienced a slow, steady growth through the years, with the core group of Bell Employees, and the merger with Local 623, representing the UPS Drivers. Further mergers with Breyers, and the Knights of Columbus helped expand and diversify our membership. Recently we have had the fortune of having companies request credit union service.
In the 1980's the credit union offered the Super Share Account, and deposit growth exploded with this competitive service. Certificates of Deposit were introduced in the early 90's giving our members more options for their savings. Upper Darby Belltelco was among the first credit unions in Pennsylvania to offer share draft (checking) accounts.
The growth in savings enabled the credit union to offer more complex loans to its members, with car loans and home equity loans leading the way. Various tax code changes in the 1990's made real estate loans more appealing to borrowers, with the tax deduction of the interest and the lower rates compared to unsecured debt.
Along the way the credit union presented payroll deduction, VISA, STAR and Debit Cards, Telephone Teller, Personal Lines of Credit, Loan Specials and Computer Loans to its membership and we're not finished. We entered a Shared Branching network in 2008 to offer our members over 5,000 branches nationwide, with over fifty in the immediate Delaware Valley region.
From the modest start of the credit union in 1941, it has grown to serve over 4,500 members with a variety of deposit and loan services. Today there is over $50,000,000 on deposit, with loans in excess of $17,000,000. While products have been offered and changed over the years, service has remained the cornerstone of our success.
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Board of Directors
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The Mission Statement of the Upper Darby Belltelco Federal Credit Union has been since its inception in 1940 and continues to be one of SERVICE to its membership. It still believes in the national credit union credo of "not for profit, not for charity, but for service".
All our goals are dedicated to providing a financially sound and cost effective organization that meets the needs of our Owner/Members. The Board of Directors feels that this can be best met by a small, member sensitive organization. Its philosophy continues to be one of slow, sustained growth, e.g. three to five percent annually. They feel that a smaller credit union can better serve its membership through personal knowledge of its members' needs and their financial habits.
Rev. January 2017
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