Tuesday, March 17, 2009

Some things never change

Credit unions sprouted up across the US during the Great Depression when consumers had no access to financial services. In a spirit of "people helping people" that still exists today, consumers pooled together what little money they had so that they could make small loans to each other to get through the tough times. Credit unions formed among people with a common bond - either they worked together, attended a church together, or farmed together in a co-op. Now most credit unions are open to everyone in the communities we serve.

Hawthorne started in 1935 at Western Electric's Hawthorne Works Plant in Cicero in 1935. Western Electric was laying off workers, reducing hours, etc. People were experiencing financial hardships so they turned to one another for help. Sound familiar? That's how we got started, that's what we're still doing today.

The Credit Union movement is 75 years old. This short, moving video shows the history of the credit union movement.

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