About us

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.

Company Profile

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..

Beverly Hamilton, Branch Manager
Waynesburg, PA

Beverly too, has almost 30 years experience in the consumer discount field. She has been an employee of this company for the last 2 years and was an employee of the owners previous company, for an additional 6 years. Starting in 1972, Beverly worked for City Finance Corporation in Waynesburg, PA. As a cashier there, she was responsible for loan preparation, bookkeeping, collections and typing of month end reports. She remained in that position for 2 years until Walton Consumer Discount Company purchased the company in 1975.
From 1975 through 1981, Beverly was the Senior Customer Service Representative with responsibilities including collections, processing and approving loans, bookkeeping and other general cashier duties.

Ellwood Federal Savings and Loan then purchased Walton Consumer Discount Company in 1982. Beverly retained her position as Senior Customer Service Representative while she worked for Richard T. Walton (our previous President C.E.O. and Major stockholder). She supervised the tellers of the office and retained her other cashier responsibilities, including handling some collections within the office.

In 1987, Beverly was promoted to Branch Manager of the Ellwood Federal Waynesburg, PA. Branch. She was responsible for supervising 4 employees, handling all collections, loan approvals, finalizing reports, closing loans, and developing business for the office. She retained this position until 1990 when Ellwood Federal sold their entire consumer discount offices.

From 1990 through 1999, Beverly worked for Beneficial Consumer Discount Company as a Customer Service Representative. Her duties included loan closing, making solicitation calls, collection calls, document preparation, and any other necessary duties. At Beneficial, she had sales goals of selling at least 200,000 dollars a month in new money loans, as well as, certain collection figures.

In 1999, Walton Financial Services had the privilege of rehiring Beverly in a management position. Her continued success at managing the growth and profitability of the office has been a great advantage in our continued success in Waynesburg. Her enthusiasm for her job is an inspiration we should all aspire to have.

Tiffany Teagarden
Customer Service, Waynesburg

Tiffany brings to Walton Financial Services a broad knowledge of customer support
with her background in health care. She joined our staff in November of 2000 and immediately
made an impact with her excellent communication skills.
Tiffany worked for Rolling Meadows from 1997 to 1999 as a Certified Nurses Aid establishing the
ground work for her customer service position. Her dependability and communication skills are a
valuable asset to the company.

Toni Fennick
Manager, Butler

Toni is a Lifelong Butler resident, and has been with Walton since 2006.. She has 40 years of Lending experience with an international mortgage Company.

She is married to Thomas Fennick, a Butler resident and retiree from AK Steel

Toni also has been a member of the Intermediate League for many years including helping with the Antique Show which is their large fundraiser. She continues to be a member of the Butler County YMCA, is an avid runner and enjoys cross stitching and antiques.

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.