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Walton Financial Services Consumer Discount Company, was founded by
Richard N. Walton and his son, the late Richard T. Walton in November
1987, in Waynesburg, PA.
The Walton Financial family tree can be traced back to 1957 when the
senior Mr. Walton, at the age of 37, opened the Ellwood Finance Company.
He chose an office above Benjamin’s Pharmacy, and shortly thereafter
opened offices in Beaver Falls and Aliquippa. He later sold the offices
to a major consumer lending institution.
In the 1980s, he acquired offices in Waynesburg and Sharon, and shortly
thereafter sold them to Ellwood Federal Savings Bank. He and his son
stayed on to supervise the transition. The two decided to open another
office, which is the Walton Financial office in Waynesburg.
The company expansion continued by opening an office in Ellwood City in
1996, and hiring Walton’s grandson, Frederic R. McKinney as branch
manager. Mr. McKinney then opened a Walton Financial in Hermitage. At
that time, another grandson, Richard A. McKinney, opened a Walton
Financial in Butler. The two brothers are now co-owners of all four
offices.
The staff at the Ellwood City office, located at 505 Lawrence Avenue,
consist of Rick and Fred McKinney, as well as Mary Prence and Mary Jo
Capone, Administrative Assistants. Prence, who joined the Walton family
in November of 2000, is an Ellwood City native and a graduate of Lincoln
High School. Her previous work experience includes working as a
bookkeeper and an advertising representative. Also born and raised in
Ellwood City, Capone joined the company in December of 2005. She is also
a Lincoln High School graduate and has had previous work experience in
various customer service venues.
The owners’ credit the success of the company on the outstanding
employees in every office, ready to give the customers the prompt,
friendly service they deserve. The Walton family prides itself on making
all loan decisions locally without using a scoring system. They offer
personal, auto, and home equity loans, up to $25,000. An important
aspect of the loans at Walton’s is that there is never a pre-payment
penalty and they charge no points.
Walton Financial makes a point of trying to help people with previously
poor credit, and young people just starting out who may not have any
credit established yet.
Office hours are Monday through Friday from 9 a.m to 5 p.m.; and
evenings and weekends by appointment only. Loan applications can be
taken by phone at 724-758-1234.
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Company Profile |
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Walton Financial Services Consumer Discount Company was founded by Richard
N. Walton & Richard T. Walton in November 1987 in Waynesburg, PA. The
Company operates under the Consumer Discount Act of Pennsylvania making
installment loans and mortgages up to a maximum of $25,000 per borrower.
There are currently three Branch Locations:
Waynesburg, Ellwood City, and Butler, all three in Pennsylvania.
Richard N. Walton, Founder &
Previous Chairman of the Board
Chairman of the Board, Richard N. Walton has been employed in the consumer
finance business since 1949, when he was an outside adjuster for Signal
Finance. In June 1957, he organized the Ellwood Finance Corporation, serving
as its President, until First Penn Corporation in 1973 acquired it. Mr.
Walton also organized and served as President of Aliquippa Consumer Discount
Company and Beaver Falls Consumer Discount Company, until First Penn
Corporation in 1973 also acquired them. He was also President of Walton
Consumer Discount Company with locations in Waynesburg & Sharon,
Pennsylvania until Ellwood Federal Savings & Loan of Ellwood City,
Pennsylvania acquired them in July 1981. He was then employed at Ellwood
Federal Savings and Loan in charge of all consumer-lending operations.
Richard A. “Rick” McKinney, President
Rick brings to Walton Financial a strong, diverse lending background, and
extensive and pertinent business experience. He has more than 8 years
experience in the consumer finance industry and most recently serves as
President of the company, as well as, handling day-to-day operations in the
Butler office. Rick currently handles all advertising, employee development,
new business development, lending approvals, legal proceedings for the
company, and salary management.
Rick had previously worked as a branch manager for Beneficial Consumer
Discount Company. Starting as a Branch Representative in March 1994, he was
promoted in March 1995 to Branch Service Manager. During the 1995-year, Rick
earned first place in mortgage sales for the Pittsburgh North District,
selling over 1 million dollars in new money real estate loans.
In March 1996, Rick was promoted to Branch Manager of the Grove City, PA.
Office. This was a brand new office for Beneficial with no existing
accounts. During his year and a half in that office, Rick earned A
Million-Dollar gain award, as well as, a District Manager for a Day
Quarterly Sales Award.
Then in June 1997, Rick was promoted to Branch Manager of the Cranberry Twp,
PA office, one of the largest offices in Western Pennsylvania. During his
tenure there, the office grew to over 21 million dollars outstanding in its
loan portfolio. Supervising a five person staff, Rick gained over 2 Million
Dollars for the 1998 and 1999 years, as well as, a District Manager for a
Day Quarterly Sales Award.
In October 2000, Rick opened the Butler office as an Executive Vice
President with Walton Financial Services and has grown the office to over 1
Million outstanding within the first year and a half, while charging off
less than Seven thousand dollars to date.
He is a graduate of Gannon University in Erie with a Bachelor’s Degree in
Political Science. He lives with his wife Stacey and two children, Richard
and Bailey, in Ellwood City, PA. He previously had worked a college
internship for Tom Ridge, Director of Homeland Security for President George
Bush in 1989. Rick also worked the Pennsylvania State Republican convention
in 1989.
Frederic R McKinney, Chairman
Fred has over 16 years of experience in the banking industry. He started in
1988 with First Seneca Bank as an indirect collector and during his first
year was promoted to Sr. Collector. In 1990 he was promoted to Assistant
Manager and was responsible for overseeing the entire indirect lending
portfolio of National City Bank.
In 1992 he joined FNB Consumer, an affiliate of First National Bank, as an
Assistant Manager. He was promoted in 1993 to Branch Manager overseeing day
to day operations and supervision of employees. Fred held that position
until 1996 when he joined Walton Financial Services where he held the
position of Executive Vice President and opened the Ellwood City office. He
now serves as Chairman of both Walton Financial Services and Walton
Financial, which is also a consumer discount company that he founded in
October of 2000 located in Hermitage, Pa..
Nancy L. Long
Hermitage
Nancy has been with Walton Since 8/2000. She is a
1966 graduate of Brookfield High School. She brings to Walton, over 34 years lending experience with an international mortgage company.
Nancy, married 36 years to Larry Long, has two children (Larry C Long and Jennifer Miller) and one grandchild.
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