Established by educators in 1947 as Amherst Teacher’s Federal Credit Union, membership was comprised of employees from our original 46 sponsor groups and their families. For a list of original sponsors, click here. With the addition of new, non-education based sponsor groups in 2003, Amherst Teacher’s FCU modified its name to what we continue as today; Amherst Federal Credit Union.
Like all Credit Unions, Amherst FCU is wholly owned by its members. As owners, these shareholders (members) receive earnings as higher dividends on savings, lower interest rates on loans, fewer and lower fees and full commitment from management and staff to confidential personalized services. Other earnings are set aside as reserves. The National Credit Union Administration (NCUA) federally insures our credit union and each member’s deposits are backed by the full faith and credit of the United States Government to $250,000.
In 2012, the National Association of Credit Unions approved Amherst FCU’s request for a community charter. The charter allows AFCU to open membership to persons who live, work, worship, attend school in, and businesses and other legal entities located in the Towns of Amherst, Cheektowaga, West Seneca or the Village of Depew in Erie County, NY and their families.
The credit union provides a place for members to save and to borrow at attractive rates, where service is our main business. We’re also a good source of financial advice and direction, where the convenience of payroll deduction and direct deposit for loans and savings is easy to manage. Amherst FCU helps its members obtain low cost, reliable service with personalized attention to the financial needs of every member.
It is the mission of Amherst Federal Credit Union to provide its member owners with personal service, consumer education, and competitive financial rates while remaining fiscally sound and secure.
Membership to Amherst Federal Credit Union is open to all persons who live, work, worship, or attend school in, and businesses and other legal entities located in the Towns of Amherst, Cheektowaga, West Seneca or the Village of Depew in Erie County, New York; and, also included are spouses of persons who died while within the field of membership of this credit union, employees of this credit union, volunteers in the community, members of their immediate family or household, and organizations of such persons.
Amherst Federal Credit Union was originally formed and sponsored by the following groups:
Q: What is the difference between a credit union and a bank?
A: The main difference is that credit unions are non-profit organizations owned by their members. By opening your Share Account with AFCU, you become a part owner of the credit union, allowing you to take advantage of our services and even vote on credit union governance at our Annual Meeting. While banks primarily operate to generate profit for shareholders, credit unions typically focus on serving their members, providing favorable interest rates, low fees, and a community-oriented approach.
Q: What services do you offer? Can I use AFCU as my primary financial institution?
A: Absolutely, we have many members who utilize their AFCU Share (savings) and Draft (checking) accounts for their daily banking. We offer many of the same or comparable products and services to the big banks. That includes Online/Mobile Banking, Mobile Check Deposit, Online Bill Pay, Visa Debit and Credit Cards, and more! Additionally, we offer a variety of loan services with competitive rates on New, Used, and Classic Vehicles, Personal Loans, and Home Equity Lines of Credit. We also pride ourselves on the personalized service our staff provides in-office and over the phone. If there is something your current financial institution offers that you are unsure if we offer, give us a call!
Q: Am I eligible to join Amherst Federal Credit Union?
A: If you live, work, worship, attend school, or do business in any of Amherst, Cheektowaga, Depew, or West Seneca, NY, you automatically qualify for membership. Additionally, you are eligible if you have any relatives who are current members. You are not required to close or re-establish your accounts if your original eligibility changes in any way, meaning you do not have to cease banking with us if you move or stop working in the area.
Q: Are there any fees to open and use my accounts?
A: While we do our best to keep our fees to a minimum, there are some fees worth noting. All new members are required to pay a $1.00 “new membership fee” upon opening their Share account, which is necessary to become a member. There are no minimum balance fees or general maintenance fees associated with any of our accounts. For a full fee schedule, click here.
Q: Can I link my account and/or debit card to my Venmo/Zelle/Paypal/etc account?
A: Yes, you can! While AFCU does not automatically populate in most databases for these money transferring apps, you can still attach your AFCU accounts using your card number or account and routing number. If you need any assistance or do not know your account number, give us a call and our staff can help.
Q: There is a potentially fraudulent transaction that I do not recognize on my account. What do I do?
A: If you are absolutely certain the transaction is fraudulent and was not authorized by yourself or anyone you allowed to use your card, the card must be blocked immediately. We highly recommend contacting the AFCU office at 716-634-3881 directly for these issues when the office is open. However, for after hours and weekend/holiday instances, you may contact Visa card support at 1-800-472-3272. Visa will be able to block the stolen card; however, you will still need to contact the AFCU office to order a new card and file a dispute for any lost funds.
Q: How soon can I get a loan?
A: You can apply for a loan right away; there is no length of membership required to get a loan with AFCU. The application can be completed online or in person, and you can typically expect to hear back from one of our loan officers with a response within 1 business day if approved. As a result, “same day loans” may be possible at times, though it cannot be guaranteed. The timing of the loan process is largely dependent on our loan officers’ availability, as well as the applicant’s ability to produce key documents in a timely fashion.
Q: How can I make payments on my loan?
A: There are multiple options to make payments on your loan. We accept cash and check payments at the AFCU office (we are unable to process a credit or debit card payment). You may also transfer a payment onto your loan directly from an attached AFCU Share or Draft account in any amount at any time, including setting up recurring payments in Home Banking. You may also choose to sign up for an “internal transfer,” which is a group of transfers processed by AFCU on a regular, recurring basis (ask your loan officer for more information). Another common method for payments being sent directly from a different financial institution is to utilize your other financial institution’s Online Bill Pay to set up a one-time or recurring payment. You will need to know your AFCU account number as well as our routing number to do so. Please contact us if you need that information.
Q: Is there a penalty to pay my loan off early?
A: No, there is no penalty or fee to pay off your loan early. Interest accrues daily, and accrued interest is paid first with every payment, with all remaining funds going directly to the principal balance of the loan. This means that any time a regular payment is made in an amount greater than your scheduled payment, or any time another payment is made in addition to the regular payment on the same business day, all additional funds are applied directly to the principal balance as well, and there is no penalty to do so.
All officers, directors, and committee members are volunteers who serve without wages or salaries. Any member who wishes to may volunteer. The Board of Directors are elected by the members at the annual meeting. They meet monthly and serve a two-year term of office.
| Name | Position |
|---|---|
| Jim Fregelette | President |
| Gerald J. Ozimek | Vice President |
| Nancy Bojanowski | Secretary |
| Keri Walczyk | Treasurer |
| Doris Murphy | Director |
| Mary Ellen Goergen | Director |
| Donald Green | Director |
| Mike Czechowski | Director |
| Rick Rogers | Director |
| Name |
|---|
| Doris Murphy |
| Gerald J. Ozimek |
| Jim Fregelette |
The Supervisory Committee is appointed by the Board of Directors and serve a one-year term of office.
| Name | Position |
|---|---|
| Lisa Pupo | Chairperson |
| Rebecca Mckeon | |
| Donald Green |
| Name |
|---|
| Valerie McGovern |
| Name | Position |
|---|---|
| Keri Walczyk | Manager |
| Stacey Koczaja | Assistant Manager |
| Cindy Tichenor | Loan Officer |
| Jolene Bosworth | Loan Officer |
| Denise Quinn | Front Line Supervisor |
| Sean Walczyk | Marketing Coordinator |
| David Sypchalski | Member Service Representative |
We love the personal service, that a person actually picks up the phone and responds!”
Excellent services, great people, they care about you and your money”
Always helpful & friendly service. Hands on with a personal touch- you are not just a number!!”
I would like to take the time to discuss my experience with Amherst Federal Credit Union. After a major mechanical breakdown which left my Wife’s truck completely useless I needed to purchase a new vehicle quickly so my wife could get to and from work. I spoke with a veteran teacher in my building and they said the only place to get a loan is with the Amherst Federal Credit Union. They were right. In five minutes I signed up, was given a step by step explanation of the loan options I could choose, and then was preapproved for a loan. After performing some car shopping I found the one I wanted, returned to the Credit Union, and they cut me a check. Within one day I signed up, received a loan, and drove a car off of a dealer’s lot. Unbelievable!!! Not only did the team at the credit union secure a loan for me, they also treated me with respect.”
Amherst Federal Credit Union strives to be an active partner in our community by providing financial support or other in-kind contributions and by participating in public service activities. Over the years, we have supported a variety of charitable organizations and community events. Most recently we have worked with the following organizations; which include current events, continuous drives and recent involvement. You will find details of our latest community initiative in your newsletter or by calling 634-3881.
Breast Cancer Awareness, 2014, 2015, 2016, 2017, 2018 For the months of August through October Amherst FCU begins fundraising for Breast Cancer Awareness in memory of our dear friend and loan officer Ruth Duke. For donations of $1+ members will receive a small breast cancer awareness gift. All proceeds are donated to charities that help cancer patients. New in 2018, AFCU sponsored and attended the Buffalo Bisons Strike Out Breast Cancer walk and game.
Hospice Bouquet Sale 2014, 2015, 2016, 2017, 2018 In the 1st quarter of every year, Amherst FCU participates in the annual Hospice Bouquet Sale. Over the past 31 years, the Hospice Spring Bouquet Sale™ has become a timeless symbol marking the beginning of a new Spring season in Western New York. Along with being the Hospice Foundation’s largest event, the Sale also brings much needed public awareness for Hospice Buffalo and its mission.
American Gold Star Mothers 2017 The Gold Star Mothers are a non-profit organization of mothers who have lost sons or daughters in the armed forces. During the holiday season, AFCU adopted a Gold Star Family and raised money and collected gifts to donate. 2017 was the first year AFCU participated in this program. Thanks to your support with monetary and gift donations, we were able to provide over $1000 in gifts and gift cards to the family. We plan to continue with this program in 2018.
Hometown Heroes 2017, 2018 AFCU also sponsored Townsquare Media’s Hometown Heroes program. This program highlights local community members who are actively making a difference. Teachers, police officers, veterans, and many more are appreciated for the work they do for their community, and are provided with a gift card courtesy of the credit union.
Cell Phones For Soldiers Keeps our troops overseas connected to their loved ones back home. The phones are recycled and the funds are used towards the purchase of 60-minute calling cards for soldiers to call home with! Bring your used or broken cell phone to the office during your next visit, Cell Phones for Soldiers is an ongoing collection.
THANK-A-VET Discount Program is a complimentary program that was started to recognize the veterans in our community for their service and sacrifice. It is available to any Erie County veteran who files their original Military discharge/separation forms/certificates with the County Clerk's Office. AFCU has enrolled in the program by offering discounted loan rates for members of the program.