Our Story | Northeastern Ohio Credit Union History

Helping Members build their financial strength since 1957

7 17 Credit Union is a progressive financial institution in Ohio offering credit union membership to those who live or work in Trumbull, Mahoning, Columbiana, Portage, Summit and central Stark counties. With 13 branches and state of the art technology, 7 17 is able to provide banking services to more than 100,000 members in the greater Youngstown, Warren, Howland, Cortland, Vienna, Kent, Ravenna, Canfield and Canton areas.

It is unlikely this degree of growth could be fathomed when 7 17 was founded as a financial cooperative in 1957. At that time, 7 17’s humble yet promising purpose was to provide Packard Electric's hourly employees with an opportunity to promote thrift and borrow money at reasonable rates. Intent on supporting community development, the growth that ultimately occurred was based on the credit union philosophy of "people helping people."

Over the years, 7 17’s technology has advanced, new delivery channels have developed, and the breadth of financial products and services has widened. Yet, the focus of employees and leadership within this financial institution is the same today as it was in 1957: to proactively and innovatively meet the financial needs of its Members in a manner that exceeds their expectations.

To ensure long-term survival of the financial cooperative, 7 17's leadership has made some key decisions through the years, such as expanding membership to the salaried employees of Packard, then to the employees of other businesses, and ultimately to the wider communities we serve. This means anyone who lives, works, worships or attends school in Trumbull, Mahoning, Columbiana, Portage, Summit or central Stark Counties can now open accounts with 7 17 Credit Union.

This diversification has provided the growth and economies of scale necessary to offer a diverse menu of loan and deposit products, such as home loans, new and used car loans, business loans, commercial loans, free checking accounts and business checking accounts among others. In addition, new and enhanced services such as telephone banking, online banking and mobile banking provide the convenience that our members seek. Due to these changes, 7 17 has not only survived, but thrived.

After more than 60 years of working with our Members to achieve their financial goals, 7 17 Credit Union is well positioned to serve current and future generations for decades to come. Whether you have been a Member for six decades or six days, thank you for giving us the opportunity to serve you.

Fast Facts

7 17 Credit Union:

Is member-owned with 100,000+ members; we have no shareholders.
Is a not-for-profit financial institution celebrating over 50 years of member service.
Has 13 branches in Warren, Cortland, Vienna, Howland, Hubbard, Canfield, Austintown, Boardman, Kent, Ravenna and Canton.
Offers membership to those who live or work in Trumbull, Mahoning, Columbiana, Portage, Summit and central Stark counties.
Offers Shared Branching, which allows our members to use 5,000+ branches of other participating credit unions around the country.
Is safe and sound. 7 17 is very well-capitalized and our annualized deposits continue to grow, indicating member confidence and attractive rates.
Federally insures member deposits with the National Credit Union Administration (NCUA).

Our History

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51957 - Fifteen hourly employees at the Packard Electric Division of General Motors formed 7 17 Credit +Union with $75 in a cigar box locked in a desk drawer of the IUE Local 717 union hall.
1966 - A new building was erected at the Larchmont office site.
1969 - 7 17's assets passed the $5 million mark.
1971 - The National Credit Union Share Insurance Fund was established to federally insure credit union deposit accounts. The Larchmont office expanded.
1978 - 7 17 became the first financial institution in the area to offer ATM services; the first credit union in the state to offer checking accounts; and one of the first credit unions to offer Visa^® credit cards.
1979 - The Vienna office opened.
1980 - 7 17 installed its own in-house computer system.
1985 - EZ Line telephone access and Commercial Loans were introduced. The Larchmont office expanded.
1986 - 7 17 merged with USAF Base Credit Union resulting in the Airbase office. Visa^® Check Cards were first offered.
1987 - The Ravenna office opened, and the Teleservices department was created.
1988 - The Ravenna office moved to Kent. The Boardman office opened on Market Street, becoming the first 7 17 branch in the Youngstown, OH area. 7 17 was the first credit union in the region to offer loans by phone.
1992 - The Canton office opened.
1993 - The 4-lane drive-thru opened at the Larchmont office.
1994 - EZ App telephone loan applications were offered. The Boardman office moved to California Avenue.
1995 - The drive-thru was expanded at the Vienna office.
1996 - The Howland office drive-thru opened, and 7 17's first website was launched.
1997 - The ATM/Visa^® Check Card was introduced. The Howland Financial Center opened in the Market Place plaza, and ATMs were installed at the Boardman and Kent offices. EZ Line telephone access was enhanced and became CALL24.
1998 - Tiered Money Market Accounts were first offered.
1999 - NetWorth24 Online Banking and Bill Pay was introduced.
2000 - The Austintown office and the Corporate Operations Center opened. 7 17 merged with Eastern Trumbull Credit Union, resulting in the Hubbard office.
2002 - 7 17 received a community group charter for Trumbull, Mahoning and Columbiana counties allowing anyone who lives, works, worships or attends school in those counties to open accounts at 7 17. The Credit Union began helping educate high school students with the National Endowment for Financial Education (NEFE) program, and STAR Member Rewards^™ was introduced.
2003 - The Dollar Dog Kids Club^™ was created. 7 17’s assets exceed $500 million.
2004 - 7 17 received a community group charter for Portage and Central Stark counties. New Hubbard and Kent offices were built and relocated. ATMs were installed in Niles and Columbiana. The Cha-Ching Teen Club^™ was introduced.
2005 - 7 17 began offering the BALANCE Financial Fitness Program. The Cortland office opened, and an ATM at the Hot Dog Shoppe in Warren was installed.
2007 - 7 17 celebrated its 50th Anniversary!
2008 - eLert email account notifications were introduced. 7 17 launches the edge young adult account.
2009 - Online account opening becomes available allowing members to join or open and fund new deposit accounts 24 hours a day from the comfort of their homes. 7 17’s assets exceed $750 million.
2010 - Smart Deposit technology allows envelope-free ATM deposits with on-screen and receipt verification images at several drive-up ATM locations. Drive-up ATM locations added in Liberty and Girard.
2011 - 7 17 created the Simplify & Save program to help members save money, simplify their financial lives, and plan for a long, healthy financial future. Mobile Banking was introduced.
2012 - 7 17 was the first financial institution in the area to offer personalized debit cards allowing members to use their own photos. 7 17’s Mobile App was introduced.
2013 - The STAR Member Rewards^™ program was replaced with the Simply Rewarding Member Rewards Program.
2014 - 7 17 added two Warren-area ATM machines with SMART Deposit technology, one on Elm Road and one on Parkman Road. 7 17 introduced a new Mobile Banking App with enhanced functionality and Mobile Deposit.
2015 - Kent Credit Union merged with 7 17 Credit Union on November 1, 2015, resulting in the addition of a new branch in Ravenna and over 7,000 new members. The merger also expanded 7 17's field of membership into Ohio's Summit County.
2016 - Electronic signature was made available, allowing members to sign loan documents via a desktop PC, tablet, or mobile phone. Three digital wallets were made available: Apple Pay, Samsung Pay, and Android Pay. 7 17 added four new $1,500 Credit Union Spirit Scholarships, bringing the total offered each year by the Credit Union to 12 scholarships.
2017 - 7 17 partnered with KOFE (Knowledge of Financial Education) to provide members free financial education tools and resources. Credit Union One merged into 7 17 on October 1, 2017, resulting in the addition of a new branch in North Jackson and more than 2,400 new members.
2018 - 7 17 launched its new brand, including a refreshed look and color scheme, an updated corporate logo, and a new tagline. A new responsive-design website, including new URL, was also launched. All of 7 17’s free standing ATMs were replaced with new machines that feature the latest security technology. 7 17’s assets exceed $1 billion.
2019 – The new Warren (Larchmont) branch opened and a new Canfield branch was added. Both new branches feature Personal Teller Machines (PTMs), available 24/7. The new PTMs provide expanded drive-thru hours for members to interact with a Personal Teller via two-way video. Many branding and technology updates were competed at all 7 17 branches, including the addition of teller stations at both the Howland and Austintown branches.
2020 – In response to the global COVID-19 pandemic, branches briefly suspended lobby service while continuing to offer members remote and drive-thru services. Lobbies reopened June 1 using state and federal recommended safety protocols, including facial coverings for employees and members. 7 17 donated $30,000 to various local charities that supported our communities during the pandemic. PTMs were added to the Canton, Cortland, Austintown, Howland, Kent and Boardman branches. 7 17’s first free-standing PTM was placed in Mineral Ridge. The North Jackson branch closed to member transactions, but converted to a secondary operations center for employees. In an effort to lead by example and to ensure that we are creating an environment where all feel welcome, the credit union formed a Diversity, Equity and Inclusion Committee.
2021 – The downtown Warren branch was opened. The 7 17 Credit Union Gary Soukenik Financial Center was unveiled to acknowledge our CEO’s 40 plus year commitment to the credit union. 7 17 was named to the list of the top 100 credit unions by S&P Global Market Intelligence. We were ranked first in Ohio and 40th in the nation for the best-performing U.S. credit unions. Personal Teller Machines (PTMs) were introduced at our Hubbard and Ravenna branches. To help our small business partners navigate the pandemic, 7 17 offered Paycheck Protection Program loans. 7 17 topped 100,000 members.
2022 - Personal Teller Machines (PTMs) were added to both the Vienna and Air Base branches; all branches now offer PTMs. A refreshed website design was launched at the end of the year. 7 17 was named to the list of the top 100 credit unions by S&P Global Market Intelligence for the second straight year. We were the only Ohio credit union to make the list and ranked 57 in the nation for the best-performing U.S. credit unions. 7 17 Credit Union was also named to Forbes' list of Best-In-State Credit Unions for 2022. Of the 5,041 Credit Unions in the United States, only 171 or 3.4% made the cut. 7 17 was one of only three of Ohio's 241 credit unions to earn the distinction. 7 17 Credit Union was also named a 2022 NorthCoast 99 award winner by the Employers Resource Council. The NorthCoast 99 honor is awarded to 99 Northeast Ohio workplaces that have exceptional policies, practices, and benefits that are shown to attract and retain top performing employees.
2023 - On May 1, 7 17 completed a multi-year, multi-faceted project to update to a new core operating system. At the same time, the credit union switched to using a single toll-free number for members, updated to a new telephone banking system and switched to a new loan operating/application system. After more than 46 years of dedicated service, Gary Soukenik retired as 7 17’s President and CEO. John Demmler, an Ohio-native and credit union advocate, replaced Soukenik on November 1. Youngstown City Schools Credit Union merged into 7 17 on December 1, 2023, resulting in the addition of more than 1,200 new members. For the second consecutive year, 7 17 Credit Union was named to Forbes' list of Best-In-State Credit Unions for 2023. Likewise, for the second consecutive year, 7 17 has been named a 2023 Northcoast 99 award winner by the Employers Resource Council.