About Ed-Med Federal Credit Union
Our Credit Union was chartered on July 31st, 1959 to serve employees of the Ogdensburg City School District. In 1974 our charter was expanded to include employees of Morristown Central School. In 1979 our charter was once again expanded to include employees of Hammond Central School. In January of 2004, the members of A.B.H.H. Employees Federal Credit Union merged into our credit union and increased our assets to over $10 million and our membership to approximately 2200 strong. In October of 2007, our charter was once again expanded to include the employees of the Lisbon Central School District.
History of Ed-Med Federal Credit Union
A credit union is a nonprofit, cooperative financial institution, owned and run by its members. The volunteer board that runs each credit union is elected by its members. “Not For Profit, Not for Charity, But for Service” is a credit union motto. Credit unions are not new. Originating in Europe, the first credit union formed in the United States was in Manchester, New Hampshire in 1909. Today, there are over 12,000 credit unions with over $320 billion in assets serving over 70 million members in the United States alone.