SPE's Mission Statement
SPE is dedicated to providing products and services for the financial well-being of members and committed to extending the credit union advantage to individuals, businesses, and organizations in Central Pennsylvania.
- Member focused service
- Respect for the importance of work/life balance and commitment and loyalty to our employees
- Financial safety and soundness
- Integrity and honesty
What Is A Credit Union?
A Credit Union Is:
- A not-for-profit voluntary "cooperative;" all income is returned to members in the form of better rates, more services, and lower fees
- Owned by its members.
- Governed by the members through an elected, volunteer Board of Directors.
- Exists only to serve members, not to make profits for stockholders.
- Is insured by the National Credit Union Administration up to $250,000 per member.
The History of SPE Federal Credit Union
We began as an HRB Singer (now Raytheon) employee suggestion. In 1978, eight individuals signed the Articles of Incorporation and each paid $10 to form the credit union. The name Science Park Employees Credit Union was selected for the employer sponsored credit union and opened for business with a lock box in a desk drawer. The credit union philosophy of "people helping people" quickly caught on and more space was needed. The first office was a converted closet next to the guard's desk. SPE converted from a state to a federally chartered credit union, now called Science Park Employees Federal Credit Union (SPEFCU or SPE). Membership was expanded to other employers throughout Centre County. SPE occupied several different offices until moving to its current location on Science Park Road in 1993.
In 2001, SPE added a branch location on East College Avenue near the Nittany Mall.
In May 2002, SPE received approval from the National Credit Union Administration (NCUA) to convert from an employer group to a community chartered credit union. This means, anyone who lives, works, worships, attends school, or volunteers in Centre County, PA is eligible to belong to the credit union.
In February 2011, the NCUA approved our request to expand the community charter to include Huntingdon County, PA.
Fiberglas Huntingdon Federal Credit Union (FHFCU) was chartered in May 1945 by the employees of Owens-Corning Fiberglas, the sponsoring company. It retained the FHFCU name until 2001 when the Standing Stone Federal Credit Union, sponsored by Mead Products, merged with the FHFCU. The new name Huntingdon County Federal Credit Union (HCFCU) was selected at that time to better identify with its growing membership throughout Huntingdon County. HCFCU has continually provided financial service to the community since it was chartered. In 2010, the Credit Union's membership included 21 select employee groups (SEGs).
On July 1, 2011 HCFCU merged with SPE. Together, we have over 10,000 members that have access to a full range of financial products and services. SPE is the only credit union in Centre and Huntingdon Counties with a community charter.