The employees of the Auburn State Prison organized the Auburn New York Federal Credit Union on January 27, 1936. It was formed by the employees of the prison for the purpose of creating a place where the employees could save and borrow money safely and confidentially at fair rates of interest. Originally known as Auburn Prison Employees Federal Credit Union, the name was changed to Auburn Correctional Federal Credit Union on August 25, 1978. On September 5, 1986 the Credit Union changed its name to Auburn New York FCU. First located in the prison, the Credit Union has expanded and grown since its inception. Each member possesses equal rights in the Credit Union - one member, one vote - regardless of the amount of savings on deposit or volume of business. On December 18, 2001, Auburn New York Federal Credit Union was converted to a Federal Community Charter. This change allows anyone who lives, works, worships, or attends school in Cayuga County the opportunity to join the Credit Union. As a result, on May 5, 2004 the Credit Union officially changed its name to Auburn Community Federal Credit Union.
