GenFed first opened for business in 1938 as the credit union for General Tire & Rubber Company in Akron, Ohio. Two men were instrumental in this stage of our history. Homer Carroll, a General Tire employee, studied credit unions and gathered information and people to start the credit union. Bill Prather, another employee, helped members learn to save by walking through the Akron General Tire factory collecting nickels, dimes and quarters to be deposited to member share accounts. Over the years, the credit union slowly added eleven branches, including locations where General Tire had plants. In 1982, GenFed merged with Mt. Vernon General Tire Employees Credit Union. The Mt. Vernon General Tire Employees Credit Union was chartered in 1974 and started in a supply closet at the General Tire factory, offering $500 signature loans and basic savings. By the time it merged with GenFed, Mt. Vernon General Tire Employees Credit Union had an asset size of $250,000. Following the merger, the combined staff continued to take a personal interest in providing outstanding service.