The real meaning is "a place of outlet, the place where a smaller stream enters into a larger one."
You can find this on page 1 of "The Centennial History of Kutztown, Pennsylvania: Celebrating the Centennial of the Incorporation of the Borough", one of those public domain works Google has preserved,
Excerpt from "The Centennial History of Kutztown" defining Saucony |
As I was writing this (November 2013), I noticed that Google Maps misspells Saucony Creek as "Sacony Creek".