CUs mark 100th anniversary of nation's first CU

MADISON, Wis. (11/26/08)--Credit unions in North Carolina and in Florida were among those marking the 100th year anniversary Monday of St. Mary's Bank, Manchester, N.H., the first credit union in the nation.

Coastal FCU, a $2.019 billion asset credit union in Raleigh, N.C., decorated its headquarters and made refreshments available to all its branches. While the festivities were intended for members, the credit union's celebration attracted one big name to help celebrate, said Joe Mecca, Coastal's director of community and corporate relations.

Nationally syndicated radio host Clark Howard was in Raleigh Monday, and took time out of his schedule to make a surprise visit to Coastal, Mecca said. Howard, he added, is a "vocal supporter of credit unions."

Howard made a brief appearance at the credit union's St. Albans Drive building, pausing for a few handshakes and photos before helping to cut the cake served to members and employees throughout the day.

Power Financial CU in Pembroke Pines, Fla., reported that it is taking part in the year-long, industrywide celebration in honor of the first credit union's centennial.

"While Power Financial CU may only be celebrating its 56-year-anniversary, we pride ourselves in playing an invaluable role in the growth of the credit union movement here in South Florida by providing outstanding customer service, lower loan rates, higher dividend rates and fewer fees than our big bank neighbors," said Allan M. Prindle, president/CEO.

To celebrate the centennial, the $480 million asset credit union will educate the local community on the benefits of credit union membership through various marketing communication programs.

"In addition, we are offering complimentary financial checkups for members as well as non-members to assist them with their financial goals and evaluate their current plants to determine if any adjustments are recommended to weather any adverse or changing conditions," he said.

"At this time of the year when traditions play such an important part of our holiday celebrations, we want to remind the community that credit unions are also built on a tradition"--of people helping people, Prindle said.

St. Mary's Bank CU was organized in November 1908.

courtesy of cuna.org