Peoples Federal Credit Union, charter number 16993, was founded in September of 1965 as the U.C. Institute Employees Federal Credit Union. The credit union was chartered to serve the employees of Union Carbide at Institute, West Virginia. The facility, at the time of the charter, employed in excess of 2,500 individuals. This was a peak period for employment at the industrial site. The credit union operated on site and served the employee members and their families.
Union Carbide sold this plant in 1986 to a French chemical producer, Rhone-Poulenc. The credit union amended its charter to include Rhone-Poulenc and later, ARCO chemical, which operates manufacturing units at the facility.
In 1987, the credit union added its first select employee group (SEG); the employees and elected officials of the city of Dunbar. This group had approximately 70 employees.
On April 9, 1987, the name of the credit union was changed by vote of the members attending the annual meeting to Peoples Federal Credit Union. The employee population of the Institute plant was rapidly declining (over 30% attrition) and new groups were brought into the charter to insure that Peoples FCU would remain a viable credit union to serve the financial needs of its members.
In February 2001, Peoples Federal Credit Union converted its charter from a Select Employee Group (SEG) credit union to a Community Charter credit union, allowing anyone who lives, attends school, works or worships in Kanawha or Putnam Counties to be eligible for membership.
Today, Peoples Federal Credit Union is a full service financial institution serving over 10,000 members in various select employee groups, Kanawha, Putnam, and Mason counties. The credit union’s goal is to continue being a technology leader and provide the best service and products to its members.