A Brief History of Towpath Credit Union
Towpath Credit Union, formerly Akron Teachers Credit Union, was established in 1936 by Mr. Lewis C. Turner to serve his colleagues in the Akron Public Schools. He was a teacher at Akron's East High School. The first Secretary-Treasurer was Mr. Edward Coovert, also a teacher with Akron Public Schools.The credit union was a part-time venture operated out of the sun porch of Mr. Coovert's west Akron home until 1966 when the Akron Teachers Credit Union opened its first office on Tallmadge Avenue.
By 1969, the Akron Teachers Credit Union had outgrown the small Tallmadge Avenue office. Many other employee groups had also realized the benefits of being credit union members. This dramatic growth prompted the Board of Directors to approve building the office located at 645 North Main Street in Akron that is still open today.
The Akron Teachers Credit Union continued to grow through mergers with smaller credit unions, the addition of numerous employee membership groups, and finally by changing to a community charter in early 2004. Later that year, the Akron Teachers Credit Union also changed its name to Towpath Credit Union in order to more accurately describe its field of membership.
The name “Towpath Credit Union” was chosen in honor of the historical significance of the canal and towpath in the birth and growth of Akron and surrounding communities. The towpath is the path that runs along the Ohio & Erie Canal. It stretches from Cleveland through Akron to Portsmouth, connecting Lake Erie to the Ohio River.
In June of 2011 Towpath Credit Union and the former TeleCommunity Credit Union officially merged and retained the name Towpath Credit Union. The merger doubled the membership size and added another branch that included 17 staff members.
We are very proud of our history and excited about our future. We look forward to keeping up with our growth and the demands of our members in order to offer the best services possible.
Canal & Towpath Links
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