CU Pioneer's Name to be Dropped from Store's Name
BOSTON - Filene's Department Store, which has existed in the Downtown Crossing in Boston shopping district since 1890, will be renamed to just another Macy's by the new owners, Federated Department Stores. The original Filene's store was what gave one of the U.S. credit union founding father's the wherewithal to help develop the credit union movement. Edward Filene, a man ahead of his time in terms of social development, was also one of the first employers to offer such advancements as sick leave, paid vacations, and reasonable working hours. Although the exact figures have not been known, it is estimated about 1,200 people will lose their jobs. The moves are being planned as Federated completes its merger with May's Department Stores. There are 950 Filene's stores employing 13,477 people which have about $2 billion in sales. Besides developing the credit union concept, pro-labor policies, Edward Filene, developed the basement store, where people of less affluent means could buy goods that hadn't sold upstairs at the lowest possible prices. What Edward Filene would think of the move, can only be guessed.