Local Professional Inducted Into Hall of Fame

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HOF - Thierman

ALBANY, NY (08/07/2009)(readMedia)-- Allegeny resident James E. Thierman was inducted into the Credit Union Association of New York's Hall of Fame at their annual Convention held recently in Saratoga Springs, N.Y.

Hall of Fame honors are awarded to individuals who have devoted their lives to the philosophy and success of the credit union movement, and have had a significant impact on credit unions at the local, state or national level.

"James has been and continues to be an active participant at his credit union," said William J. Mellin, president and CEO of the Association. "His dedication throughout those 35 plus years has had a positive impact on the stature and growth of Olean Area Federal Credit Union."

Thierman was instrumental in establishing a credit union for the employees of the Dresser Clark Company, becoming one if its original members in 1972. In 1982, after many local mergers, the credit union converted to a community charter known today as Olean Area Federal Credit Union.

From those first days, Thierman served as a member of the Supervisory Committee and later as a board member. He continued in that capacity until his official retirement in May 2008.

According to Daniel R. Rourke, CEO of Olean Area FCU, "Jim's leadership and enthusiasm for serving his credit union for over 35 years has helped us grow from our initial $500 deposit and 1,475 members to a $165 million credit union that today serves 18,000 members. Throughout the years, there have been many milestones, including moving our main office three times. Each step of the way, Jim has provided valuable leadership and guidance, ensuring the credit union's current success while providing a solid foundation for its future."

Olean Area Federal Credit Union was chartered in 1972. It has $165 million in assets and more than 18,000 members. For more information about the credit union, please visit www.oleanareafcu.org.

The Credit Union Association of New York has served as the trade association for the state's credit unions for 91 years. It is the fourth largest league in the country. New York credit unions have assets of more than $44 billion and 4.3 million members. To learn more about the Association, visit www.cuany.org.

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