At Peninsula Federal Credit Union, we believe that members come first, and our community is strongest when we work together. We strive each day to fulfill the goal of our mission statement:
“To Be THE Trusted Financial Partner in Our Communities!”
Peninsula Federal Credit Union has over 70 employees dedicated to the mission and to serving our communities.
Over the course of 82 years, Peninsula Federal Credit Union has grown from just 231 members and one branch, to over 14,000 members and three branches with assets in excess of $268 million.
We were founded in 1941 as an occupational credit union to serve employees of the local paper mill. We began as the Escanaba Paper Company Employees Federal Credit Union.
1959: Our name changes to Mead Corporation, Escanaba Division Employees Federal Credit Union.
1968: Our name changes to Escanaba Paper Company Employees Federal Credit Union.
1984: Our name changes once again, this time to Mead Associated Federal Credit Union, to more accurately reflect the name of our sponsor.
2000: The Credit Union changes from an occupational to a community charter. We then are able to offer membership to all persons living or working in Delta, Menominee or Schoolcraft counties. In line with the charter change, and to provide a broader representation of our membership base, our name changes to Peninsula Federal Credit Union!
2023: Our field of membership expands to include all the following counties: Alger, Baraga, Chippewa, Delta, Dickinson, Gogebic, Houghton, Iron, Keweenaw, Luce, Mackinac, Marquette, Menominee, Ontonagon, and Schoolcraft Counties, Michigan; along with Ashland, Florence, Forest, Iron, Marinette, Oconto, and Vilas Counties, Wisconsin.
Although the credit union today has significantly changed since 1941, the concepts of member ownership and people helping people have not.
The Board of Directors, which is elected by and from the membership of the credit union, is responsible for establishing policies and guidelines.
The daily operations of the credit union are handled in accordance with all state and federal regulations by our professional staff!
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