Post Card from the CU Past

CHICAGO - In November 1955, Morgan Park Cooperative CU was the first Windy City credit union to erect its own building. The 1,500-square-foot facility, located at 11043 S. Vincennes Ave., cost $33,000 to build. Prior to the new facility, credit union treasurer E.M. May, seen behind the counter serving members, and assistant Carl Carter operated out of the backroom of a grocery store and then the basement of a church. “We used to pedal around the neighborhood on bicycles collecting quarters and half-dollars from members to build-up the assets,” said May. Those assets totaled $245,000, having grown by $50,000 in the first two weeks the building was open. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com