SPRINGFIELD, Mass. — The Central Credit Union Fund is turning 75 and to celebrate members have been invited to an evening of fun and nostalgia April 24th at the Basketball Hall of Fame.
The nation's first corporate credit union got its start in early 1932 in the midst of the Great Depression when credit unions were in dire need of a source of funds from which to borrow should the banks not be able to meet their demands.
Founded as the "credit union of credit unions", the corporation was authorized to enable credit unions to establish and maintain a common pool of funds to protect their own credit; provide them with a safe environment for the five percent liquid reserve and other surplus funds; and use the funds thus accumulated by loaning them to those credit unions who may need additional cash to meet the regular or emergency requirements of their business. Six months later, the first annual meeting of Central Credit Union Fund, Inc. was held.
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With a focus on service, the Central Fund is dedicated to providing service and product excellence by constantly seeking to deliver the best in high-touch, high-tech products and services.
This year's annual meeting begins at 3:30 p.m. followed by refreshments and cocktails in basketball's most revered venue. For more information contact Irene Tan at 508-832-0080 or [email protected].
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