| How Credit
Unions Began |
| The Credit
Union Idea was born in 1849 when the mayor of a small village in Germany
wanted to help people recover from the Napoleonic wars devastation.
He planned for people to pool their small but regular savings and
give out low interest loans. His plan worked well and the idea quickly
spread across Europe. |
| The first
Credit Union in the United States was established in Manchester, New
Hampshire in the year 1909 and was based on the same principles. The
continuing popularity of Credit Unions is due to many contributing
factors, one of which is the quality of service they provide to members. |
| |
| Who Controls
& Operates the Credit Union? |
| Credit Unions
are non-profit organizations meaning that all net earnings will be
returned to members in the form of dividends. The Credit Union is
member controlled. Each member has one vote in the annual election
of officers. Management is under the direct control of the Board of
Directors. A detailed financial statement is posted in the credit
union office monthly. |
|
| We Are YOUR
Credit Union |
| Since establishment
on January 5, 1956, Electrical Workers #22 Federal has prided itself
on a friendly, professional atmosphere and full service. Be proud
to be a part of your Credit Union. |
| |
| What's So
Special About Credit Unions? |
| MEMBERS make
this Credit Union Special. Our members are joined together by a common
bond; each is either a member of Local #22 or one of their family
members. And remember, since the members own the credit union, you
can be sure they know your needs and work hard to exceed your expectations. |
| |
| How Do I Join? |
| It's Simple!
All you need to do is sign a membership card and deposit $25.00 into
your savings account. Then you're ready to authorize a payroll deduction
to your savings account or as a loan payment. Application cards are
available at your credit union office. We encourage you to stop in
and see the organization of which you will be a part owner. |
|
