In 1954 seven employees of Riegel Paper Board Company decided to start a cooperative credit union for themselves. In time, when other employees began joining their funds together it began to grow and these savers began receiving dividends and the savings were loaned to other members that were having financial hardships. One of the first loans made for a member of RFCU was to purchase a new washing machine. Riegelwood Federal Credit Union continued to grow as members seen the viability of what a credit union could do for them.
Many changes have taken place over the years, we have expanded our products to become a full service financial institution. What started with seven members and a simple savings plan has expanded into a financial institution with over 11,000 members. We are now a full service banking entity that offers the conveniences required to compete in the 21st Century. Riegelwood Federal Credit Union is a not for profit financial cooperative. We are governed by a member-elected board of directors, which means our goal is to meet your needs with extraordinary personal service.
The original purpose and philosophy of our credit union has remained the same. A credit union formed and supported by individuals with a common bond, making financial services available to each other through a cooperative effort.
Riegelwood Federal Credit Union has much strength that has brought us through the years:
- Our “People Helping People” Philosophy
- Volunteers eager to give of their time and knowledge
- Support from our credit union members
- Our “Real People, Real Friendly, Real Help” Staff
RFCU has offices located in Northern Brunswick County and Columbus County. We have recently opened our third location. Come visit us at 1629 Madison St, Whiteville, N.C. Columbus County is very excited to have a 2nd location to service members with a “hometown banking experience” .