Allegent Community Federal Credit Union—Everything You Need and More!

For most people, if you have a stake in something, you tend to care more for that thing and work to make it successful. That holds true for financial institutions as well and is the primary difference between a bank and a credit union. Like banks, credit unions are financial institutions, but unlike them, it is the members who own the credit union. Therefore, the members have a vested interest in it and naturally strive to make their credit union more convenient and financially worthwhile.

Allegent Community Federal Credit Union was founded in March 1935 as Allegheny County U.S. Government Employees Federal Credit Union with 10 members and $70. In October 2006, Allegent progressed to a community charter, which allowed it to open its membership and officially change its name to Allegent Community Federal Credit Union. “We offer membership to anyone who lives, works, worships or attends school in Allegheny or Butler Counties,” said Angelo Lucatorto, Chief Executive Officer.

Today, Allegent has approximately 15,000 members and has grown from its original location in downtown Pittsburgh on Liberty Avenue to include two more branches: Penn Hills and Franklin Park. In a few months, Allegent will open its fourth branch. “We are very excited to be able to open another location in Butler County this coming fall in Cranberry Township at 1646 Haine School Road. This location will have a drive thru and ATM,” said Mark Bruno, Vice President of Business Development.

Allegent offers everything that the “big banks” do to consumers, but it offers so much more. Allegent provides a variety of savings and checking accounts, investment and retirement products, home loans, vehicle loans, and personal loans as well as online and mobile banking. “We can provide any and all services, but we provide value added services, more efficiently and with better interest rates,” said Mr. Lucatorto.

“We recently debuted our Premier Money Plus checking account,” said Mr. Bruno, “and it comes with a number of benefits.” For a deposit of $1,500, members are enrolled in Allegent’s Benefits Plus Program that includes free ULTIMATE ID®—three bureau credit monitoring and a monthly notice of your credit score. It also provides Cellular Care Coverage — $600 coverage per membership account per lifetime, full-service travel discounts with cash back rewards, Ticket Xpress® Entertainment Discounts and retail and restaurant gift card discounts up to 15%. Thirty retailers participate in the program, and periodically Allegent offers a flash sale on gift cards. “Recently, we offered gift cards for TJ Maxx at 40% off, giving those who took advantage of the offer a $25 gift card for $15,” said Mr. Bruno.

The Premier Money Plus account combines the high dividends of a money market account with the everyday flexibility of a checking account. It is designed for members who keep a larger balance in their checking account and wish to earn a highly monthly dividend.

“We have some of the best loan rates around,” said Mr. Lucatorto, “whether it’s a personal loan, car loan, mortgage or home equity loan.”

Allegent offers home equity loans and home equity lines of credit. “We are the home of the no closing cost home equity loan,” said Mr. Lucatorto. “Most banks have various stipulations such as the requirement to maintain a qualifying checking account attached to a loan. At Allegent, we offer home equity loans with low fixed rates, flexible terms and best of all, no closing costs.”

Allegent is part of the Keystone Lending Alliance (KLA), a Credit Union Service Organization that is owned and operated by Allegent and four other credit unions in the area. KLA offers lending services to members for auto financing, allowing them to finance through Allegent right at the dealership. This means that you no longer need to stop by the credit union to fill out paperwork, and you can complete your car purchase even when the credit union is closed. It can all be done right there at the dealership.

“From a technology standpoint, we have all the tech that the big banks have,” said Mr. Bruno. “We offer two Allegent ATMs—one at the Liberty Center branch and one at the Franklin Park branch—but in addition, our members also have access to any of PNC Bank’s ATMs without being charged a fee, which means that members have access to over 800 ATMs in the Pennsylvania region and over 9,000 nationwide.”

In addition, Allegent offers credit and debit cards as well as a Mobile Wallet service allowing members to use Apple Pay, Google Pay and Samsung Pay, giving members the freedom to use their smartphone to make a purchase and eliminate the need to carry a wallet.

Another convenience that members enjoy is the Card Valet app. “If you ever lose your debit or credit card, you can simply go on to our app and suspend the account, or you can put a spending limit on a card or limit the places where the card may be used. Many parents like this feature,” said Mr. Bruno.

Mobile deposit is also available to members and allows them to take a photo of a check on their phone and deposit that check with Allegent without ever leaving home. Popmoney is another convenience that once you use, will make you wonder how you ever got along without it. Popmoney is a personal payment service that lets you send, receive or request money from friends, family or just about anyone with an email address or cell phone number. It’s indispensable for giving gifts to family and friends; collecting rent from tenants or roommates; requesting money for club dues, your sports team or a group vacation; paying your dogwalker, babysitter, or lawn care service; sending money to your child at college; or for reimbursing friends for a fun outing, like a dinner or concert.

Allegent has all the previously mentioned products and services, but is has something more, that sets it apart. “We like to think we have a personal touch. There are many banks to choose from, so we have to be different. Our excellent customer service is how we attract and retain members. We have grown primarily by word of mouth, from family members and friends recommending Allegent to others. And we invite you to come see how Allegent can meet your financial needs,” said Mr. Lucatorto.

Visit Allegent’s website, at www.allegentfcu.org, call your nearest branch or stop in to become a member.

By Janice Lane Palko