First Commonwealth is a consumer-friendly alternative to banking. We offer all the services you're accustomed to, but at better rates and lower fees. That's because we're structured differently than banks. Banks are in business to earn profits for their stockholder investors. Our credit union exists to improve your financial well being. We don't have stockholders. Instead, we're cooperatively owned by our members (account holders). We return our profits to you in the form of higher dividends on savings, lower rates on loans and lower fees.
First Commonwealth is federally chartered by the National Credit Union Administration. We're governed by a member-elected, volunteer board of directors.
Safe, Sound, Secure
Your money is safe at First Commonwealth Federal Credit Union. We have a consistent and stable financial history. Your savings is insured up to $250,000 by the National Credit Union Share Insurance Fund. To enhance this benefit, First Commonwealth has purchased an additional $250,000 of coverage per savings account for our members, insuring members' savings accounts for up to $500,000.
95.7% Overall Satisfaction Rating
That's the latest score we received in an independent, 2014 Raddon Financial Group Member Survey. In addition to better rates and lower fees, you'll find excellent and friendly service, as well!
Our mission is to continually exceed members' expectations by:
- Creating an unmatched service experience
- Making it simple to improve their financial well-being
- Offering solutions based on individual needs
Board of Directors & Officers
2016-17 Board of Directors and Officers
- Vincent Gorman, Chairman
- Stephen Siessmayer, Vice Chairman
- Stephen Besz, Treasurer
- Peter Hance, Secretary
- Gene Auman
- William Ehritz
- Kenneth Guerin
- Gary Matika
- Ritchey Ricci
2016-17 Supervisory Committee
- Steven Farnesi
- Julie Moakley
- Myrna Rivera
- Eric Schantzenbach
- Sundar Vedantham
- Donna LoStocco, President and CEO
- Alan M. Musselman, Executive Vice President Finance
- John P. Miller, Chief Financial Office
- Kevin D. Brown, Chief Lending Officer
- Stephen Drosnock, Chief Technology Officer
- Steve P. Kunkel, VP Enterprise Risk Management
- Ivan F. Orrego, VP Member Experience
- Glenn T. Hendricks, VP Human Resources
- Linda A. Bull, VP Payment Services
In 1959, the credit union was chartered to serve the employees of Western Electric in Allentown, Pa. Back then, we were called WeAllen Federal Credit Union. Services included loans up to $200 and basic savings accounts. The office was located in the basement of the Western Electric building on Union Boulevard and had very limited hours of operation.
In the 1980's, we greatly expanded our product and service offerings, and opened membership up to the employees of other companies in the Lehigh Valley. As we grew, so did the number of our our branch locations. During the 1980's, we built our own headquarters on Union Boulevard in Allentown. In the 1990's we changed our name to First Commonwealth to better represent our diverse membership and opened our Fogelsville and Bethlehem offices.
Since the new millennium, several smaller credit unions have been merged into First Commonwealth: Atlas Federal Credit Union, Dixie Cup Employees Federal Credit Union, NorCar Federal Credit Union, PADUA Federal Credit Union and Catasaqua Area Federal Credit Union . With this continued expansion, offices in Easton, Lehighton and Kutztown have been added. Additionally, we now serve over 800 companies and their employees.
Today, First Commonwealth is the largest credit union in the Lehigh Valley. Our full-service menu includes everything from checking accounts and debit cards to mortgages and online banking.