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About Us
This credit union began as a service to Bakery
Drivers Local 52. For a long time it was a wad of papers in the
pocket of Albert Young, Local 52 President. But even at the outset,
it was clearly marked for a great future.
The late Edward Murphy, President of Joint Council
41, and his successor, William Presser, cheered the program along,
offering help every step of the way. From International President
James R. Hoffa, a strong advocate of credit unions, came frequent
suggestions that helped spur the growth of the organization.
In 1953, the big expansion took place and the
credit union was renamed Cleveland Teamsters Credit Union. Its
assets, which had climbed from $2,666 in 1940 to $352,000 in 1952,
suddenly zoomed to just under $572,555 in 1953, to nearly a million
in 1955. The credit union has since experienced steady growth.
In 1965, Cleveland Teamsters Credit Union was
renamed Ohio Teamsters Credit Union.
The credit union continued to add members and
increase assets, and by 1973, they had grown to a financial
institution just over $5 million. At that time, they had 3,605 loans
and served nearly 8,000 members.
In 1979, the credit union recognized a stellar
milestone by utilizing their very first computer system. It was a
completely new way of doing business, but the members were receptive
and the credit union staff took great strides to learn this new way
of doing business.
Today, the credit union has just over $13,000,000
in assets and serves almost 7,000 members nationwide. As more
members continue to utilize the products and services of the credit
union, we’re able to add new products and services to benefit our
entire membership.
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