This page is dedicated specifically to Harbor Credit Union, going over the history of the credit union from its humble beginnings to the present day.
The Beginning Of Harbor Credit Union
It was during the year 1952 when a time of growth and a time of certainty were evident. This is because the United States was brought into the Korean War. The Olympics was held in Helsinki, Finland and the United States of America was very victorious in bringing home a total of forty three gold medals.
During a coffee break that time, some Green Bay Box employees are talking about starting a credit union to pool their savings. This also aims to produce a fund that will particularly help fellow employees. It was in March 11, 1952 when the Wisconsin Credit Union League has approved Articles of incorporation’s and Bylaws of Green Bay Box and Paper Pulp Credit Union.
The “set-up” was attended by approximately seventy employees and this meeting was held in April 22, 1952. This was the meeting when the first Board of Directors were elected and Credit Committee were selected.
Harbor Credit Unions First Operation
In May 16, 1952, this was the most awaited day of the employees because this was the time when the credit union opened its first operation. A $0.25 was charged for every member as an entrance fee. Transactions followed at the employee’s desk done by the scheduling department.
By the end of 1952, the service and convenience of the credit union had caught on. During those times, the members totaled to 135 and total assets of $8,701. Small consumer loans, savings accounts, and payroll deductions were the first and major services offered to very member of the union.
It was during the year 1957 when the union hired the first full time employee in the person of Joan Pfotenhauer who was a bookkeeper.
The entry of the 70’s, the country was very much affected by the scarcity of money, two digit inflations, and high interest rates. Even with these conditions, now called Packaging Employees Credit Union, continued to prosper and grow.
Rapid Expansion Of The Harbor Credit Union
During the early 80’s, hard economic times were brought to the country once more. Inflation had increased dramatically. Despite these crucial times of the 80’s, this decade is considered by the credit union as the one that brought them with one of their largest successes. The year 1980 is one of their largest growth periods since its first operation.
During the early 90’s, now known as the Harbor Credit Union have expanded its presence in Green Bay with the merger Alwin Credit Union.
The new millennium has brought bright sparkling hopes for Harbor Credit Union up to the present. From 12 employees who first realized the dream, now, the credit union reached a grand total of over 14,000 members. With this present status, the Harbor Credit union ensures to the present and future members that they have the undivided financial stability that can give the right support for people.