From humble beginnings
In 1936 a small group of General Electric employees discussed the desire to form a credit union to serve the employees of General Electric Works in Building 6 at the General Electric Plant in Erie, PA. On March 10, 1936 the credit union was awarded Charter 1117 and would operate under the authority of the Federal Credit Union Act. The credit union began as an office at the General Electric Transportation plant until years later when it moved to the current address of 2154 East Lake Road, Erie, PA.
Our credit union, just like others, began as a way for members to save so they could borrow from each other at a low cost. Throughout the years, however, the financial needs of the members required the addition of more services. As more services were added, the number of members continued to increase. But, as growth continued, the underlying principle remained the same: credit unions are member-owned and operated. Members come first.
Ushering in a new era
Each year the credit union holds a strategic planning session to review financial statements, vision and mission statements, and to develop key objectives for the future. From these sessions, plans are formulated and then put into action. All of this is done to keep the credit union focused and moving forward.
It was at one of these planning sessions when our volunteer Board of Directors and our Executive management team decided that in order to take the credit union boldly into the next 77 years, a name change was merited. The Erie General Electric Federal Credit Union changed its name in early 2013 to Widget Financial.
Widget Financial was selected in order to help the credit union stand out in a crowded banking marketplace. Widget pays tribute to our GE Transportation legacy (widGET) and is an alliteration to many service industries around the Erie Region; Widget is a familiar term in manufacturing, technology and education.
As our credit union looks to the future, we continue to be committed to serving the needs of our members by providing the services and technology that will benefit our members’ financial well-being for many years to come.