FREEHOLD, N.J.–First Financial Federal Credit Union (FFFCU) is celebrating its 90th anniversary this year. Founded in 1936 during the Great Depression, the credit union noted it has grown from a small, visionary group of Asbury Park schoolteachers to a $178.4-million credit union that serves approximately15,000 members today.
“As the credit union humbly reflects on this milestone, it is reminded that the enduring legacy and commitment of its founders continue to shine through present day operations and remain central to its mission of putting people first,” FFCU said in a statement. “Under the leadership of Harold “Pop” Shannon, the Asbury Park schoolteachers pooled their monies together with the shared vision of helping one another meet their financial needs, as they organized one of the earliest credit unions in America. The creation of a credit union based ontrust, support, and financial empowerment played a crucial role in access to banking in a time of economic crisis and uncertainty.
“As the seeds of resilience eventually began to take root in the economy, the credit union shared in this resilience and grew to include employees of both Monmouth and Ocean County Boards of Education, at which time its name was changed to Mon-Oc Teachers Federal Credit Union,” it added.
FOM Expands & a Name Change
Over the years, FFCU said it expanded its field of membership to include municipal employees (and changed its name to Mon-Oc Public Employees Federal Credit Union), employees of some local hospitals and nursing facilities, and several small businesses (when it was named Mon-Oc Federal Credit Union). In April 2003, Mon-Oc became a community credit union, serving anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties.
It became First Financial Federal Credit Union in July 2006.
To mark this milestone year, FFFCU invited members to join in a year-long 90th anniversary celebration, which kicked off on Feb. 6th with special giveaways and promotions.
‘Optimism & Purpose’
“As we celebrate this milestone anniversary year, we continue to look to the future with optimism and purpose,” President and CEO Issa Stephan said in a statement. “We are here to empower our members and help them achieve their financial dreams in the most personalized way that we can.”
