Paragon Federal Credit Union began in 1936 with assets of $143 and a membership of seven Bergen County teachers. The teachers decided to pool their savings in order to “promote thrift to their fellow members and provide a convenient place where the membership could borrow money at a reasonable rate of interest.”

Paragon is now one of the largest credit unions in New Jersey with more than 62,000 members and offers a full range of no- or low- cost products and services. In addition, Paragon’s Community Charter allows the credit union to serve members based on where they live, work, worship, or attend school.

Paragon FCU has branches in Mahwah, West Orange, Westwood, Oakland, Englewood Cliffs, Elizabeth, Franklin Lakes, Union City and Hackensack, New Jersey. There are also two branches in Pennsylvania. Paragon’s headquarters are in Montvale, NJ.

In keeping with its commitment of community involvement, Paragon established this scholarship in 2006 to benefit students in the Anisfield School of Business.

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