Directions CU Marks 60th Year
Directions Credit Union is commemorating 60 years of serving members.
Since 1953, the Sylvania, Ohio-based credit union has evolved from a small, single-parish credit union to one of the largest credit unions in Ohio. It was 60 years ago when a group of parishioners from St. Clement’s Church, along with their pastor, had the idea of forming a credit union. The Toledo St. Clement Credit Union operated from inside the St. Clement’s Church office and deposits were collected after Sunday mass in the back of the church. The goal was to simply provide a convenient place to deposit money and to make loans available at a lower rate of interest than at the banks or savings and loan companies.
The 60’s, 70’s, and 80’s saw a large amount of growth as more parishioners learned of the credit union’s higher savings rates and lower loan rates. Membership widened and more financial services were added to offer members such as checking accounts, IRAs, certificates of deposits, first mortgages, home equity loans, and Visa Credit Cards.
In 1989, a new name was needed to accommodate the growth of members and participating parishes. St. Clement Credit Union became Toledo Area Catholic Credit Union Inc. In 2000, TACCU became a community credit union and over the years merged with Empire Affiliates Credit Union, Knox County Credit Union and Erie Shores Credit Union. After the merger with Erie Shores, TACCU changed its name and became Directions Credit Union in April 2008.
Today, Directions Credit Union serves approximately 70,000 members in Wood, Fulton, Lucas, Huron, Ashland, Richland, Wayne, Knox, Tuscarawas, and Crawford Counties in Ohio as well as Monroe County in Michigan. Currently with an asset size of $560 million and 18 branch locations throughout Toledo and Central Ohio.