Our History

It all happened in June of 1949 when seven people got together and saw a need for a credit union at RACO, INC. Each person deposited $5.00 in a fund then applied to the Nation Credit Union Administration for a Federal Credit Union Charter. These people, who are considered chartered members, are: Clarence Miller, Richard Held, Charles Nagy, Helen Monroe, Charles Szabo, Berandeen Martin, and Virginia Noble. Thanks to their insight into the future and their careful planning we have grown tremendously. They really believed in the idea of "People Helping People." In our Credit Union you are not a customer, you are a member that is important to us and considered family.

Our Credit Union is a cooperative association organized by a group of people having a common bond for the purpose of promoting thrift among its members and creating a source of credit. With these guidelines in mind, River Bend FCU was founded according to the rules of the Federal Credit Union Act.

Raco Federal Credit Union name changed to River Bend Federal Credit Union in 2003. At that time we amended our charter from a multiple common bond to a community charter in order to effectively and efficiently expand its membership. To become a member of River Bend FCU, one needs to live, work, or worship in Portage Township.

Mission Statement
  1. To be the most desirable financial institution serving (Field of membership) with cost-effective financial services.
  2. To prudently utilize the human and financial resources of the credit union to develop the local, national, and international credit union system.
  3. To endeavor to provide ancillary financial and other services to members as alternatives, recognizing as guidelines the need for financial prudence and universal co-operative principles.
Creed
  1. To provide the best possible financial and ancillary services to members, in good faith and in the mutual interest of both the members and the credit union.
  2. To exercise the degree of care, skill, and diligence a reasonably prudent person would exercise in determining policy and in the delivery of services consistent with sound business and financial practices.
  3. To meet the changing social, economic, and cultural needs of the membership by developing appropriate service improvements and the systems to deliver services-supported by caring and effective human resources.
  4. To keep the membership well informed about the special nature of the credit union and to seek the best method of providing the most democratic structure, control, and involvement possible.
  5. To adhere to the credit union philosophy that unites the credit union system locally, nationally, and internationally.
  6. To maintain the image of a self-help financial co-operative demonstrated in practice through mutual understanding, caring, and encouragement.
  7. To provide opportunity for the personal growth and development of volunteers and employees.
  8. To maintain a high level of social responsibility and good corporate citizenship.
  9. To support the principle of interdependence by co-operating with other credit union organizations locally, nationally, and internationally.
  10. To continuously prospect for and be alert to development opportunities for the credit union, its members, and community at large.