America's Credit Union
MUSEUM
Summer 2005
Preserving the Defining Moments of the Movement
by Dan Mica, President/CEO CUNA Credit unions were founded on the principal of financial independence. Immigrant mill workers from Manchester, New Hampshire and their pastor at St. Marie’s Church, Monsignor Pierre Hevey, started the first U.S. credit union in 1908 as a way to save money and access credit at a reasonable cost. Monsignor Hevey’s vision of financial choice for the Manchester, New Hampshire mill workers is now enjoyed by more than 86 million people across the country. Credit union history is rich with vibrant stories about the pursuit of financial freedom. The cooperative values created with the first credit union almost 100 years ago are the building blocks for an industry with a structure and uniqueness un-paralleled in U.S. financial services today. The spirit of the credit union movement comes to life at America’s Credit Union Museum. As credit unions continue our fight against attacks from banking trade groups, the Museum provides a mechanism to underscore the value of credit unions in the United States. The Museum is designed to tell the human side of the credit union story. America’s Credit Union Museum awakens a sense of pride about the credit union movement. America’s Credit Union Museum complements our work at the Credit Union National Association (CUNA). The exhibits in the Museum highlight the history of the movement and explain the philosophy of credit unions. Cooperative spirit, service to members and financial independence – all important components of the first U.S. credit union – can be seen throughout the defining moments of the movement. The Museum preserves these moments.
New Mexico Governor Richardson Speaks at America’s Credit Union Museum
The Governor of New Mexico, Bill Richardson, delivered an address at America’s Credit Union Museum in Manchester, New Hampshire on Wednesday, June 8 as part of a breakfast event co-sponsored by the New Hampshire Credit Union League and the New Hampshire Department of Cultural Resources. The Governor, who was on a two-day visit to the Granite State, has been mentioned by some as a potential Democratic Party presidential contender in 2008. Governor Richardson came to the Museum in order to recognize the contributions made by the French Canadian community to the culture of New Hampshire. He gave part of his presentation in French (which he minored in at Tufts University). The audience was made up of people active in the Franco American community in Manchester, New Hampshire, credit union leaders, and Trustees of America’s Credit Union Museum. In introducing Governor Richardson, New Hampshire Credit Union League President Daniel F. Egan, Jr. spoke of the pivotal role the French Canadian community played in bringing the (continued on Page 4)
(Left to Right) Gordon A. Simmons, President, Service Credit Union and Chairman of the New Hampshire Credit Union League; Peter C. Hildreth, NH Bank Commissioner; Governor Richardson; Van McLeod, Commissioner, NH Department of Cultural Resources; Daniel F. Egan, Jr., President, New Hampshire Credit Union League. (L to R): Gordon A. Simmons, President, Service Credit Union and Chairman, America's Credit Union Museum; Peter C. Hildreth, NH Bank Commissioner; Governor Richardson; Van McLeod, Commissioner, NH Department of Cultural Resources; Daniel F. Egan, Jr., President, New Hampshire Credit Union League.
America's Credit Union Museum
A Great Day for America's Credit Union Museum
What constitutes a great day for America’s Credit Union Museum? If you ask Executive Director Peggy Powell she will probably tell you November 18, 2004, the day the Museum hosted a meeting of the Association of Executive Senior Officers (ACUSO). That’s when ACUSO pledged $25,000 to the Museum over the next five years. “Credit unions are founded on the principle of mutual self help, and the Museum does an excellent job of reflecting that heritage,” stated ACUSO Chairman, Shirley Laliberte. “As an organization dedicated to supporting credit union professionals in building their own expertise and knowledge of the industry, we are pleased to offer our support to the Museum in this way.” November 18 was also the day the Museum received a $50,000 pledge from Digital Federal Credit Union. Tom Ryan, Digital’s COO, announced the credit union’s support while attending the ACUSO meeting. According to Ryan, “We think the Museum is doing a fantastic job of preserving the credit union story on the site where America’s credit unions began.” On the same day Jane Melchionda, President/CEO of Eastern Corporate Federal Credit Union (EasCorp) committed an additional $15,000 to EasCorp’s support of the Museum. This gift, in combination with those previously made, brings EasCorp’s total contribution to the Museum to $25,000. “To receive this level of support from credit union organizations all at one time is amazing,” said Powell. “I’m overwhelmed.” Financial support is vital to ensuring the success of the Museum. To learn more about America’s Credit Union Museum and how you can help preserve the history and philosophy of the credit union movement, please contact Peggy Powell at (603) 6291553 or at ppowell@acumuseum.org.
Digital Federal Credit Union Attendees (L to R): Eileen Galligan, Rob Routson, Jim Regan, Steve Mackowitz, Tom Ryan, Kris VanBeek, Time Garner and Rich Hayward Seated: Peggy Powell, and Digital FCU President/CEO, Carlo Cestra
(L to R): George Dow, EasCorp, Shirley Laliberte, Quincy Credit Union, Tom Ryan, Digital Federal Credit Union, Mark Warner, Triangle Credit Union, Peggy Powell, America’s CU Museum, Paul Pijanowski, Crescent Credit Union, Jane Melchionda, EasCorp, and Andre Spinneit, Unified FCU
Museum Success Boosted by Recent Financial and Historical Donations
America’s Credit Union Museum recently received numerous financial commitments as well as artifacts and memorabilia. Leading the way were CUNA, $45,000, payable over a threeyear period, CUNA Mutual Group, $25,000, and US Central, $15,000. Much of the success of the Museum can be attributed to the continued leadership and generous support of these national organizations. Dan Egan, President, Massachusetts, Rhode Island, and New Hampshire Credit Union Leagues and America’s Credit Union Museum Director, made a presentation to the CEO Roundtable attendees at their meeting in May. Egan stressed the importance of preserving the history of the credit union movement through support of the Museum. To date, 22 of the credit unions in attendance have donated a total of $26,000 in response to Egan’s presentation. Pictured with the artifacts presented to the Museum by US Federal Credit Union are: (Lto R) Gordon Simmons, Chairman, America’s Credit Union Museum (ACUM) and President, Service Credit Union; Bill Raker, President, US Federal Credit Union; Peggy Powell, Executive Director, ACUM; and Hank Klein, former President/CEO, Arkansas Federal Credit Union Hank Klein, former President/CEO, Arkansas Federal Credit Union, continues to be one of the Museum’s greatest supporters. At the time of his retirement in June, credit unions, organizations, and businesses made gifts to the Museum totaling $8,500 in recognition of Hank’s years of service and contributions to the credit union movement. Roger Kuhns, President of Western Credit Union Group for Fiserv, Hank Klein, former President/CEO, Arkansas Federal Credit Union, and Bill Raker, President/CEO, US Federal Credit Union visited America’s Credit Union Museum in June. On behalf of Fiserv, Kuhns presented the Museum with a $25,000 donation representing Fiserv’s commitment to the credit union movement. Fiserv, Inc., provides information systems and services to the financial industry, including transaction processing, software, and system solutions. While financial support is crucial to the future success of America’s Credit Union museum, the donation of credit union artifacts and memorabilia are also important for they tell the story of the credit union movement. During his visit to the Museum, Bill Raker, President/CEO, US Federal Credit Union, presented Peggy Powell with numerous historical items, including US Federal’s original ledger book, for the addition of a Minnesota Exhibit in the Hall of States. America’s Credit Union Museum belongs to all credit unions and is a wonderful resource for historical information about the nationwide credit union movement. Please contact Peggy Powell, the Museum’s Executive Director, at (603) 629-1553 or ppowell@acumuseum.org, for more information on how you can support your Museum. Roger Kuhns, (Center) President, Western Credit Union Group for Fiserv, presented Gordon Simmons and Peggy Powel with a $25,000 gift to the Museum For a complete list of donors to the Museum please visit the Project Development page on the Museum’s website at www.acumuseum.org.
Bill Raker and Roger Kuhns in the first office of St. Mary's Cooperative Credit Association
Governor Richardson (Continued from Page 1) American credit union community to life. He said, “The people who came to Manchester from French Canada were determined, imaginative, and devoted to the idea of helping their family, friends, and neighbors. Our credit union movement was born out of their understanding of the value of community and cooperation. Governor Richardson applauded the positive influence of credit unions and stated that he has always been supportive of credit unions and that he is a long time credit union member. He said the establishment of the museum was important to preserve the cultural influence of French Canadians in New Hampshire and the United States. The breakfast meeting was covered by local TV news as well as a TV news crew from Albuquerque.
A Special Thank You
We want to extend our gratitude to the credit unions, state leagues, organizations, businesses, and individuals who have contributed to America’s Credit Union Museum. Thank you for supporting our efforts to preserve the history of the credit union movement. As a result of your generosity, more then $2.2 million has been raised toward our $3 million campaign goal and we have received new exhibits and artifacts for our collection. Because of you, we look forward to a bright future for America’s Credit Union Museum. To learn more about how you can help support your Museum, please contact Executive Director Peggy Powell at (603)6291553 or e-mail her at ppowell@acumuseum.org.
Phil Boudreaux, Chairman, Arkansas FCU, presents Museum Executive Director Peggy Powell with a donation honoring retiring President/CEO Hank Klein. Governor Bill Richardson speaks on the contributions made by the French Canadian community. P.O.Box 603 Manchester, NH 03105-0603
America's Credit Union Museum Officers
Gordon A. Simmons, Chairman Paul Mayer, Treasurer Lori Waser, Secretary Peggy Powell, Executive Director