History of Ohio Catholic
- In February 1954, thirteen members of St. Monica Parish and Reverend Hugh Gallagher formed St. Monica Garfield Heights Federal Credit Union. Operation began on March 23, 1954.
- In 1981, credit union membership was expanded to include the members, employees, and immediate families of St. Martin of Tours Parish. The name was changed to St. Monica/St. Martin Federal Credit Union and in 1982, the logo, SM/SM FCU, was adopted.
- In May 1988, ground was broken for a new two-story building to house all credit union operations. This location opened on October 22, 1988, as one of the finest financial institution buildings in the area.
- In 1994, the credit union’s field of membership was expanded to include St. Wenceslas Parish (Maple Heights) and employees of Light of Hearts Villa (Bedford).
- In 1995, the advertised name of the credit union was changed to SM/SM Federal Credit Union.
- On July 1, 1999, the St. Pius X Parish Credit Union, Inc. merged into the SM/SM Federal Credit Union. New members included: St. Barnabas Catholic Parish (Northfield), St. Mary Catholic Parish (Bedford), St. Pius X Parish (Bedford), and Our Lady of Guadalupe Parish (Macedonia).
- The first branch opened on July 1, 1999, in Northfield.
The New Millennium
- On April 5, 2000, the SM/SM Federal Credit Union website was launched.
- During 2002, a 12,000 square foot addition to the credit union’s main office in back of St. Monica Church (Garfield Heights) was completed.
- Also in 2002, a 7,200 square foot new branch was constructed in the Alexandria Square Commons on State Route 82 in Macedonia. This replaced the Northfield Branch.
- On April 15, 2004, SM/SM Federal Credit Union officially expanded membership eligibility to all employees, members, and students of the Catholic Diocese of Cleveland.
- In July 2004, St. Michael Catholic Parish (Independence) joined the family.
- On July 29, 2004, the name was changed to Ohio Catholic Federal Credit Union (OCFCU).
- October 2004, Ohio Catholic FCU offered federally insured student loans and elementary and secondary Catholic School Tuition Loans.
- In January 2005, St. Rocco (Cleveland) and St. Matthew (Akron) joined the Ohio Catholic FCU family.
- January 2005, Ohio Catholic FCU officially opened the Cleveland West branch in Lin’s Omni Square at 3167 Fulton Road and the Akron branch at 526 Canton Road.
- July 2006, Ohio Catholic FCU offered VISA gift cards.
- In January 2007, St. Albert the Great (North Royalton) joined the Ohio Catholic FCU family.
- On June 1, 2007, Ohio Catholic FCU converted to a new data processor, CU*Answers.
- July of 2008, Ohio Catholic FCU offered members Advantage Share Certificate and Reward Points for using the Ohio Catholic FCU VISA cards.
- October of 2008, Ohio Catholic FCU opened the North Royalton Branch at 5251 Wallings Road in Cleats Plaza.
- January 2009, Ohio Catholic FCU was pleased to announce our new Tuition Forgiveness Program. Each year, ten members utilizing our tuition loan program will have one month of tuition forgiven.
- August of 2009, Ohio Catholic FCU marked a milestone in its history by reaching one-half of one billion dollars in loans.
- In November 2009, the Independence office was merged into the other four branch locations.
- In November 2009, the Cleveland West office hours were expanded to full time.
- December of 2009, Ohio Catholic FCU partnered with the Diocese of Cleveland and the Office of Catholic Education to be the primary sponsor of the 2010 Catholic Schools Campaign.
- January 2010 Ohio Catholic FCU appeared on the Robin Swoboda Show to promote Catholic education.
- February 2010, the Akron office relocated to 1900 West Market Street, Akron. The new location offers many member friendly attributes including two drive-up teller stations and a night deposit box. Full-time hours of operation were implemented.
- March 2010 Ohio Catholic FCU made three appearances on the Good Company Show to promote the benefits of joining a credit union and the unique attributes of being a Catholic credit union.
- March 2010, Ohio Catholic FCU adds It’s Me 247 Mobile Web Banking and eDoc to its portfolio of services.
- July 2010, Ohio Catholic FCU launches redesigned website.
- April 2011, Ohio Catholic introduces the Student Choice lending program for college students.
- June 2011, eBranch opened June 2, 2011 to service our members. The eBranch is composed of a dedicated and focused team who will provide first-class service to our members.
- July 2011, Ohio Catholic Federal Credit Union has been named one of the best places to work in Northeast Ohio! Ohio Catholic’s employee’s dedication to our members, the community, and each other has earned the credit union the honor of being recognized as one of the Plain Dealer’s Top 100 Best Companies to Work for in Cleveland.
- November 2011, Catholic Cemeteries Association becomes a Preferred Partner of Ohio Catholic FCU. This relationship will help to support the pre-planning needs of members in preparation for, at the time of, and following the death of a loved one.
- September 2012, The Member Value Program, a tiered rewards program, is created to give members the opportunity to earn discounted or free products and services through Ohio Catholic.
- September 2012, Ohio Catholic creates a Remote Deposit Capture Program for Catholic entities.
- March 2013, Ohio Catholic celebrates its 60-Year Anniversary!
- March 2013, Ohio Catholic awards ten $1,000 scholarships to students in Catholic school
- April 2013, Ohio Catholic is granted a charter expansion by the National Credit Union Administration (NCUA). This gives the credit union the ability to serve members of all Catholic Dioceses throughout the state of Ohio.
- September 2013, Ohio Catholic adds a new cash back credit card to its card product suite.
- September 2013, Augustine Financial Services is created. Augustine is a full-service mortgage company, wholly owned and operated by Ohio Catholic, that gives members a wider variety of mortgage lending solutions to meet their unique needs. Augustine can also offer mortgage lending to other credit unions throughout Ohio.
- March 2014, $35,000 in Catholic Education Scholarships are awarded to thirty-five families with students in Catholic grade and high school.
- December 31, 2014, Ohio Catholic celebrates a record-breaking year: net income increased over 1 million dollars; the loan portfolio increased by 3.2 million; assets increased by 3 million dollars; and credit union equity increased by 1.5 million.
- March 2015, Ohio Catholic increases the Annual Catholic Education Scholarship Giveaway to award $50,000 to fifty families to assist with paying for a Catholic school tuition.
- June 2015, Ohio Catholic adds Merchant Services and IOLTA/IOTA accounts to their business banking portfolio.
- December 31, 2015, Celebrated the 4th consecutive year of growth with net income at 1.5 million.
2016 and beyond
- March 2016, $50,000 in Catholic Education Scholarships are awarded to fifty families with students in Catholic grade and high school.
- May 2016, the first annual $20,000 Catholic School Grant Program is rolled out to support supplemental learning initiatives in Catholic grade and high schools in Ohio.
- June 2016, Ohio Catholic upgrades all debit and credit cards to MasterCard with smart chip technology.
- July 2016, Ohio Catholic welcomes St. Paul’s Parish Federal Credit Union members into their organization. Following the merger, OCFCU grows to approximately 14,500 members with $157 million in assets. Ohio Catholic is the largest faith-based, full-service credit union in Ohio and the fourth largest in the nation.