| Premier Source Credit Union, located in Springfield, will open their new main office branch at 233 North Main Street in East Longmeadow on May 7. The new main office will offer full financial service to its members. Membership at Premier Source Credit Union is open to anyone that lives, works or attends school in Hampden or Hampshire County. They have a total of six branches, with offices in Springfield College, Western New England College, Top Flite, Hasbro and 450 Cottage St., Springfield. The new branch will have a drive up teller, a 24-hour ATM machine and Saturday hours. Premiere Source Credit Union was formed on March 6, 1941 for employees of the Kellogg Envelope Company. The company became U.S. Envelope after World War II and was reorganized as Westvaco Envelope Company in 1960. By 1972, the field of membership included all employees, immediate family members, and retirees of Westvaco in Springfield, and in other Westvaco facilities. In 1993, Kelko moved to the Cottage Street facility, and in 1995 the field of membership was expanded to include any business or organization with an office in the Springfield Industrial Park. In addition to Westvaco, the field of membership includes employees and their family members of approximately 200 businesses and organizations located in the industrial park. In 2000, Kelko merged with Twin Meadows Federal Credit Union. Twin Meadows started as a credit union for town of Longmeadow employees in 1965, and by 1996 its field of membership included Bay Path College, Willie Ross School for the Deaf, East Longmeadow Housing Authority, employees of the Longueil Transportation, Inc., employees of the town of Hampden, and employees of the Lower Pioneer Valley Educational Collaborative. In 1996 Twin Meadows merged with the Springfield College Federal Credit Union, whose members included employees, retirees, and family members of Springfield College employees, Western New England College, and Grace Food Service. When Kelko and Twin Meadows merged, the name of Kelko was retained. The merger resulted in a combined asset base of $17.5 million and offered an expanded savings and loan product line for approximately 3,500 members. The main office is at 450 Cottage Street, Springfield, with branches at Springfield College, Western New England College, and on Main Street in East Longmeadow. In 2001 Kelko merged with Spalding Employees Credit Union, which serviced employees, retirees, and family members of Spalding Worldwide located in Chicopee. This merger resulted in a combined asset base of $20 million and a field of membership of approximately 4,100 members. A branch office was retained at the Spalding headquarters facilities. In 2004, Kelko Credit Union changed its named to Premier Source Credit Union. Some of their employer groups in their field of memberships include: employees of East Longmeadow and Longmeadow, Hasbro, Bay Path College, Western New England College, Springfield College, Top Flite, LPVEC (Lower Pioneer Educational Collaborative, Mead Westvaco among others. |
