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Time Machine July 1945: What’s a credit union?

The follow excerpt comes from an entertaining article written by Jean Archibald and published in the Woman’s Point of View section of B.C. Credit Unionist in July 1945. It’s an interesting exchange, edited for brevity, that’s still relevant 71 years later!

“Jean, what is a credit union?” asked one of my friends the day after I had dragged her to a credit union dance. “What’s it all about?” I rolled up my sleeves, figuratively and waded in. “It’s simple, really Mary. It’s a people’s bank.” I sat back to let this sink in.

“But what’s that?” she asked, the aggravating girl. “What’s the purpose of it? There must be something behind it.”

READ: “The M factor” and you’ll know why “talking about credit unions” is as important as ever

I gritted my teeth. Something told me this wasn’t going to be the walkover I expected. I dug back into my consciousness and started at the beginning…

Talking about credit unions

Mary is just one of a number of people who want information about credit unions. Can you talk intelligently on the movement, or do you find yourself, like me, unable to explain what a credit union is? After my experience with Mary I went downtown and got some booklets on credit unions, and determined I would get some more information from the University Extension Service. I’m going to be sure in future that I can answer any questions anybody asks me. ◊