PCM Credit Union expands its field of membership

PCM Credit Union (PCMCU) is expanding its membership eligibility to include anyone who lives, works, or is a part of a SEG (select employee group) in Brown, Door, Kewaunee, Marinette, Oconto and Shawano counties.

This expansion will allow PCMCU to say yes, and also to explore more of its Northeast Wisconsin communities that are underserved by credit unions, according to a press release.

PCM stands for People Caring More. PCM Credit Union is a full-service credit union that has over 14,500 members, $450 million in assets, and branches in Marinette, Ashwaubenon and Howard.

In 2023, PCMCU had to turn away new members almost every week because those individuals could not find a connection through family or an employer to be eligible to open an account.

For 66 years, PCMCU’s field of membership has been based on an occupational membership structure where only those who worked at SEG or family members of existing members were eligible to join.

Without question, the key to PCMCU’s growth has been from its members having positive experiences and sharing their stories with others, the release states. The roadblock existed when many of these friends would reach out to PCMCU and learn they were not eligible to join. This has prompted a big decision and change, according to the release.

“We take tremendous pride in the strong reputation we have built,” President/CEO Shelly Mellenberger said. “Preserving our uniqueness will remain a top priority. Before making any decision, we ask ourselves, ‘What is best for our members and credit union?’ Our history includes continued growth, financial strength, and success. We not only have amazing members, but an amazing staff and volunteer Board of Directors.”

She said “People Caring More” is not just a tagline.

“It is experienced between members and staff daily,” Mellenberger said. “Together, we honor our past and dream our future.”