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CommStar Credit
Union! |
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CommStar Credit
Union! |
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| Welcome to CommStar Credit Union, A
nonprofit, member owned, financial institution, chartered by the state
of Ohio and regulated by the Department of Commerce, Division of
Financial Institutions. CommStar exists as a financial cooperative
enabling our members to save together, make loans to each other, and
enjoy mutual and exclusive membership benefits.
CommStar Credit Union was formally chartered on January 15, 1938 in Wilmerding, Pennsylvania and was called BW Employees Federal Credit Union. On April 30, 1941 the federal chartering agency; Farm Credit Administration, granted the approval to move the charter from Wildering, Pennsylvania to the Elyria Savings & Trust building on Broad Street. In order to offer better service to our members a move from there also became necessary. In January of 1957 ground was broken for a building and five months later on June 1, 1957 the Credit Union moved to our present site at 832 Cleveland Street. In 1979 we added our first Select Employee Group; Invacare. Then, because of a charter change in 1981 from Federal to State Charter, employees of over 65 different companies also joined our organization and thus a name change was required to identify this expanded membership. The name changed from BW Employees Federal Credit Union to BW Industrial Credit Union. Over the years we continued to add new Select Employee Groups and mergers such as Duffin Manufacturing Credit Union, HCC Federal Credit Union, O.S.P. Employees Credit Union, Luxaire Employees Credit Union and Lear Romec Employees Credit Union. In March of 2000, we received approval to provide our products and services to all residents of Lorain County, which has become our largest member group. As a result of this major change, a new name to represent all members was necessary. In October of 2000 the membership approved a name change. Our Credit Union is now known as Community Star Credit Union, Inc. with a dba of CommStar Credit Union, Inc. On March 31, 2004 we had our most recent merger. Health Associates Credit Union merged with CommStar to become one financial institution. This brought benefits to members from each credit union. Health Associates members can now take advantage of financial products and services not offered to them previously and CommStar members have seen their Credit Union grow bigger and stronger with the influx of over 2700 new members. Along with the merge came the convenience of offering our members two locations to take care of their financial needs. Today CommStar offers financial services to over 8300 members and over 100 Select Employee Groups. (For a complete list of our Select Employee Groups please refer to the membership link on the website) We continually add to our membership and have a strong commitment to bringing our members all the convenient services needed to take care of all their financial needs. We are constantly adding new services that become available; ensuring we offer the best options for our members. |
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