Towpath Credit Union is a not-for-profit financial institution with a democratically-elected board of directors. As a credit union, those who do business with the credit union are Members instead of customers. TowpathCU’s mission is to deliver the best Member experience while improving the financial wellness of our communities. Anyone who lives, works, studies, or worships in Summit County, Ohio, is eligible to become a Member.
Towpath Credit Union, formerly Akron Teachers Credit Union, was established in Akron, Ohio, in 1936 for employees of the Akron Public Schools system. Through decades of dedicated service to Akron Public Schools employees, the credit union grew substantially.
By 1969, the Akron Teachers CU had outgrown the small Akron office they were utilizing at the time. This dramatic growth prompted the Akron Teachers CU Board of Directors to approve the building of the branch located at 645 North Main Street in the North Hill neighborhood. This branch was remodeled in 2016 and is still open today.
Akron Teachers CU would then change its name to Towpath Credit Union in 2004. The credit union also established a community charter at this time, opening Membership to all of those who live, work, study, or worship in Summit County, Ohio. The credit union would soon open a new branch in Fairlawn, Ohio, at the beginning of 2005.
In 2011, Towpath CU and TeleCommunity Credit Union, formerly Akron Telephone Credit Union, completed a strategic merger and retained the name Towpath Credit Union. The TeleCommunity CU branch on North Turkeyfoot Road became Towpath CU’s third branch.
In 2019, Towpath CU expanded its footprint in Summit County by purchasing and renovating what was formally a bank branch in Cuyahoga Falls, Ohio, to become its fourth branch in Summit County.
In 2021 and 2022, Towpath CU merged two credit unions into the Towpath CU family: Akron Municipal Employees Credit Union and Goodyear Employees Credit Union.
In 2023, the Towpath CU Board of Directors named Michael Sferro as the new President and CEO of the credit union. In 2024, the credit union completed a comprehensive digital upgrade providing Members and staff with state-of-the art digital banking and technology.