|
|
GCU History
Germania Credit Union was organized to improve benefits and service to the employees and members of the Germania Farm Mutual Insurance Association and began operations on May 29, 1986. The organizers of the credit union were Edwin S. Schmid, R. William Spinn, James W. Christy, Bryan Rothermel, Leonard M. Roeske, W.D. Cunningham and Eugene H. Stoll, Jr. The organizers were all employees of Germania Farm Mutual Insurance Association and became the first seven members of the credit union as well as the first board of directors. The credit union began with their initial deposits of 10 shares each at a par value of $5 per share. The first annual meeting of GCU was held on March 5, 1987 with 71 members present. At that time the credit union had a total membership of 95 and deposit balances of just over $20,000. The only products offered at that time were savings accounts and small personal loans. Volunteer committees were set up and are still an important part of the credit union today. The first credit union committees were the Audit, Credit, Membership/Marketing, Records and EDP Committees. Including the board of directors, 32 volunteers made up the first board of directors and committees. Today the credit union has over 2,400 members with deposits of over $10 million with a total of twenty-seven volunteer members who make up the credit union’s board of directors and five standing committees.
Germania Credit Union
|
