Our charter was approved on November 20, 1963. Several Teledyne Monarch Rubber employees invested their money to begin a capital fund forming Monarch Federal Credit Union. The credit union was originally formed to serve only Teledyne Monarch Rubber employees and their relatives.
In 1991, we requested and were approved for a community charter. From that time on, we have been able to serve all residents and employees of Lake and Marlboro Townships. During the transition from a select employee credit union to a community credit union, the board of directors believed it would be in the best interest of the membership to change the name of the credit union to reflect its new membership base. At that time the name was changed to Lake Community Federal Credit Union.
Five years after receiving our community charter, we found that we were growing out of the building we had occupied for nearly sixteen years. The board of directors had the foresight to take advantage of an opportunity to purchase the building we are currently located in today.
In 2013, we requested and were approved for an expansion of our field of membership to serve all residents and employees of Stark County.
During our changes over the years the basic founding philosophy still remains. To provide a cooperative, non-profit association, for the purpose of encouraging thrift among its members and creating a source of credit at fair and reasonable rates of interest. Because of the convenience and service to it's members, low interest loans and attractive dividends on savings, and because of the practice of brotherhood, individual self-help and democracy, your credit union has become an important tool for members and their families in their desire for a better way of life.