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The credit union was chartered in December 1935 for employees of the Gowanda State Hospital located in Helmuth, NY. When Gowanda State Hospital was renamed the Gowanda Psychiatric Center and the J. N Adam Developmental Federal Credit Union, located in Perrysburg, N.Y. merged with this credit union, the name was changed to Gowanda – J. N. Adam Federal Credit Union. With the closing of the Gowanda Psychiatric Center, the buildings were used to house the Collins Correctional Facility and the credit union was renamed the Gowanda Area Federal Credit Union on July 21, 1994.