Nine employees of Solvay Process, a division of Allied Chemical & Dye Corp, held the inaugural meeting of SP Employees Federal Credit Union in an old shoe store located in the Solvay plant.
Membership for 28 employees was approved with a total balance of $124. A maximum deposit was set at $500 and loans were capped at $200 with collateral, and $50 without.
A new headquarters was constructed on Caroline Ave in Solvay.
Solvay Process became Allied Chemical Corp and the credit union changed its name to A C Employees Federal Credit Union.
Hired the first paid manager, Homer R. Ludington.
Installed the first computer to automate accounting, then shared the new expertise with other credit unions wishing to adopt the technology.
Groundbreaking introductions of checking accounts, IRAs and a unique Lifestyle Line of Credit were made, which are still offered today.
Expanded membership eligibility to the Town of Geddes and changed name to A C (A Community) Federal Credit Union.
Expanded membership eligibility to area businesses and groups and changed name to ACMG Federal Credit Union.
Homer Ludington retired and travelled to Bangkok, Thailand to assist their government in the development of credit unions.
Vicki O’Neill was named President.
Relocated headquarters to the old Solvay Post Office.
Opened cooperative branch with Sunfirst FCU in Liverpool.
Expanded membership eligibility and commitment to the underserved by opening the Valley branch located on the South Side of Syracuse.
CEO Vicki O’Neill retired after 40 years of service and Brian F. May was named to lead ACMG into its next chapter.
In honor of CNY’s industrious past and economic and natural resilience—and the growth and progress of the credit union–ACMG changed its name to Salt City Federal Credit Union.
