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Oil Country Federal Credit Union was chartered in 1956 under the name Cyclops Titusville Federal Credit Union. It was organized to serve the employees of Universal Cyclops Specialty Steel Division, located in Titusville, Pa., which was a part of Cyclops Corporation, headquartered in Pittsburgh. Over the years, the credit union grew while it promoted thrift and provided low cost credit to its members. In the middle 80's, the credit union began expanding its field of membership to include other small businesses in the Titusville area. This proved to be a wise move, as the steel plant was sold to Armco Steel and eventually closed down. A total of 43 businesses have been added to date. The credit union continued to grow and expand its financial services. In 1995 an office building was purchased, remodeled, and a drive-thru added. The name of the credit union was changed to reflect the changes in its field of membership. As of August, 2001, it has assets totaling over 10 million dollars, a membership of about 4300, and 12 employees. It still believes in the " People helping People" philosophy and emphasizes the " personal touch". However, it is aware that its membership is widespread and needs convenient financial services, as well.