X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In 1951, my parents, William and Catherine Miller, started a credit union in our home. It was an educational CU which served the school employees of about seven communities in our county. For a number of years it operated out of a metal cashbox on our kitchen table. The books were kept on paper in ink. Members had passbooks. In a few years one of the local high schools had a disaster in which a leaky roof caused a brand new gym floor to be torn up and thrown away. My father and I borrowed a small truck and salvaged all the wood we could. It was used to panel the walls of our basement which became the credit union office. My mother refinished the wood by hand.

People of all races, religions, and backgrounds came to our home and either sat at the kitchen table or went down to the basement to make deposits and get small loans and advice from my parents who at the time were both volunteers just like the board, the supervisory committee and the credit committee. The examiners came in and sealed the records safe with their blue stickers so the records could not be altered during the exam. They worked for the Bureau of Federal Credit Unions, which I think was somewhere in the Department of Agriculture.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.