First Credit Union is celebrating its 75th anniversary with a book launch telling its story and a dinner dance in an historic venue.
Starting with just a handful of members in 1939 with less than $10 on deposit, today the organization serves over 10,000 members with more than $255 million in assets, including 140 employees in six communities.
“As a throwback of days gone by we are holding a dinner and dance at Dwight Hall on May 31,” said Sandra McDowell, vice-president communications and culture.
Two hundred credit union members met in 1944 at Dwight Hall for a combined annual general meeting (AGM) and social evening. Refreshments and a dance followed the evening meeting.
“The AGM was always a big event,” McDowell explained. “Dwight Hall would be absolutely packed with members; you had to get there early to get a seat.”
Last week when the credit union held its AGM, it featured modern technology that allowed board members from Bowen Island, Cumberland and Texas to participate through video conferencing at Vancouver Island University. “VIU has the best venue for the technology required,” McDowell explained. Instead of pencils and pads of paper that would be used in 1939, credit union business is conducted with computers, smart phones and digital recorders.
May 31 will include the launch of a book entitled, Start Small, Dream Big, The 75 Year History of BC’s First Credit Union, written by local author Linda Wegner. “We’re thrilled to have worked with Linda to capture our history,” said McDowell. “Copies of the book are being printed and will be available for signing by Linda at the dinner dance.”
The evening will pay tribute to a special person from First Credit Union’s history, Ruth Allan, who is affectionately known as the Credit Union Lady. She was the administrator of the credit union school savings program for 23 years and has a special place in the hearts of those who grew up in Powell River. “She’s remembered fondly,” McDowell, said. “Ruth will be celebrating her 100th birthday this summer, and we are honoured that she will be able to attend the anniversary dinner dance.”
Following the death of her first husband, Allan and her two sons moved to Powell River to be near her sister. Her first jobs here included being employed at a local five and dime store, at Powell River Company during World War II as a riveter of parts for Boeing aircraft and later in the mill plant. She remarried into a family of credit union members and consequently joined Powell River Credit in 1949.
Allan was once again widowed when her second husband, Peter Alton, died in an accident at the mill. They had had a daughter and Allan was left to support herself and three children.
In 1957 Allan was asked if she would like to take over the school savings program. She recalls credit union directors coming to visit her to ask if she was interested in the position. It was an opportunity that proved providential in meeting her financial needs.
“It was absolutely perfect for me, being able to be home when my daughter came home from school,” Allan remembered. “Prior to that, in other jobs, [the children] had to make out on their own but this was an absolute blessing to me. I had all the holidays off. When I finished my bookwork I could go, whether it was 2 pm or 5 pm, depending on how much I had to do.”
Former students remember bringing in their dimes and nickels to school in their green passbook for deposit every week. On the front was printed, “Teach your dollars to have more cents.”
With the assistance of other volunteers, Allan’s responsibilities included visiting 10 schools each week.
Her team of helpers included Marge McLean (Cranberry Elementary), May Watson and Verna Dunn (Brooks High School), and Molly Hicks (Henderson School). Jean Rushant volunteered at Lund School and Mrs. Hardy, Stillwater School. Students in Lang Bay, Lund, and surrounding areas took their monies to a private home.
The only mechanical aid Allan used was an adding machine. That meant all entries were made using pen and ink. When she first began the job, each individual student had a card with his or her name on it that was arranged alphabetically. When students brought in their money, the appropriate card would be pulled and deposits recorded by hand.
“They would come to me in their lunch hour,” said Allan. “I would be sitting in the office. The credit union supplied envelopes for students to put their money in. I had a briefcase that I would carry the money in.”
Those passbooks were of such importance to students that a number of them have kept them as reminders of the school savings program. One memory is from a student who developed the habit of saving through the school program. She would bring her 25 cents each week and when she got married, she had enough money in her savings account to purchase her husband’s wedding ring.
Allan’s daughter, Lynn McCann, recalls that being the child of the Credit Union Lady carried its responsibilities. “Everyone in town knew her and if I was bad they’d tell on me so I could get away with nothing. My brothers were older when she took on the job so they didn’t have that bother,” she said.
More than 30 years have passed since Allan’s retirement and people still stop her on the street and recount their memories of her and those school savings program days.
Tickets for the dinner dance can be purchased at the credit union reception desk at Joyce Avenue location for $25 each. The event will feature a band from Victoria called the Time Benders, including 50 years of music and 15 costume changes. Chef David Bowes will cater dinner.
In celebration of the 75th anniversary theme, there will be diamond door prizes. All proceeds from the evening will go to The Compassion Challenge project.
“We’d be honoured for members of our community to join us for this very special occasion,” said McDowell.
On June 7 there will be another celebration in the credit union’s parking lot at the main branch on Joyce Avenue. There will be food, games, cake and sealing of the 75th anniversary capsule.
