4 minute read
Allegent Community Federal Credit Union
Responding to Your Needs
By Janice Lane Palko
The hallmark of a thriving, growing business is how responsive it is to its members’ needs. Allegent Community Federal Credit Union was founded precisely to address its members’ financial needs. Established in March 1935 as Allegheny County U.S. Government Employees Federal Credit Union with 10 members and $70, Allegent, in October 2006, progressed to a community charter, allowing it to open its membership and provide its services to others. It was then that it changed its name to Allegent Community Federal Credit Union. Allegent offers membership to anyone who lives, works, worships or attends school in Allegheny or Butler Counties and offers all the products and services that larger financial institutions do.
Last October, Allegent opened a new location in Butler County in Cranberry Township at the corner of Haine School and Freedom Roads. “We renovated an existing building, which was ideal for us. It was a dry-cleaning business, but prior to that, the building was a financial institution and still had a walk-in vault,” said Angelo Lucatorto, Chief Executive Officer. The credit union has three other locations: its original site in downtown Pittsburgh on Liberty Avenue and branches in Penn Hills and Wexford. “We have ATM access at all four branches and drive-thru access in Cranberry and Wexford,” said Mr. Lucatorto.
“Our Cranberry Township branch is another example of how we continue to seek growth of our membership base. As always, we offer great products and services as we look forward to a bright future for the credit union!” said Mr. Lucatorto.
Like banks, credit unions are financial institutions, but unlike them, it is the members who own the credit union. Therefore, the members have a vested interest in it and naturally strive to make their credit union more convenient, responsive and financially worthwhile. Allegent has nearly 15,000 members.
Allegent offers everything that the large banks do for consumers, but it offers so much more. Allegent provides a variety of savings and checking accounts, investment and retirement products, home equity loans, vehicle loans, Visa credit cards and personal loans as well as online and mobile banking.
Now more than ever technology has become essential. “Since the COVID-19 pandemic began, we have seen increased traffic to our online banking platform including the mobile app. We’ve also seen increased usage of our ATMs from each of our branch network locations,” said Mark Bruno, Vice President, Lending, who has seen these services become vital for their members.
With social distancing, options like mobile deposit have become more important than ever. It allows members to take a photo of a check on their phone and deposit that check with Allegent without ever leaving home or touching a screen. Popmoney is another convenience that has revolutionized how money is transferred. It is a personal payment service that lets you send, receive or request money from friends, family or just about anyone with an email address or cell phone number. If you can’t be near others, it’s proven indispensable for giving gifts to family and friends; collecting rent from tenants or roommates; requesting money for club dues, your sports team or a group vacation; paying your dogwalker, babysitter, or lawn care service; sending money to your child at college; or for reimbursing friends for a fun outing, like a dinner or concert.
“Allegent offers home equity loans and home equity lines of credit at great rates with no closing costs, and you can apply from the comfort of your home. During the pandemic, we’ve experienced an increase in online loan applications, and the turnaround time is still approximately 24 hours for credit decisions,” said Mr. Bruno.
Another convenient feature is Allegent’s auto financing program. As a part of the Keystone Lending Alliance (KLA), a Credit Union Service Organization owned and operated by Allegent and four other credit unions in the area, Allegent, through the KLA offers lending services to members for auto financing, allowing members to finance through Allegent right at the dealership. That means no longer stopping by the credit union to sign loan documents and then heading back to the dealership. You can even purchase a car when the credit union is closed.
Allegent’s service goes beyond aiding only its members; it’s an active participant in the community. Recently, Allegent donated $2,000 to the Pittsburgh Food Bank, which provided 10,000 meals to people in need from the pandemic. St. Jude’s Children’s Research Hospital is another charity it supports. The credit union began selling Reese’s Peanut Butter Cups at its locations for $1. In less than three months, Allegent raised almost $500 this year prior to the pandemic, which has slowed efforts.
But Allegent looks forward to continuing the fundraiser. “Hershey’s heard about our efforts and is quite supportive. They even sent us a display case,” said Mr. Lucatorto. “We have also partnered with radio station Y108-FM and presented St. Jude with a semi-annual donation. This is our second year raising funds for St. Jude’s.”
Whatever your financial needs, Allegent is there to assist with them, and you can be sure it is poised to adapt to future needs be it on an individual level or on a community-wide basis. n
