Timeline Stories
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The credit union is renamed Marion & Polk Schools Credit Union
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In July of 1976, the board approved a third name change through a “Name Your Credit Union” contest. The credit union would be called Marion & Polk Schools Credit Union, which more precisely described the growing field of membership. Read More »
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By 1976, membership reached 6,166
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The credit union reached a $1 million asset mark
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The credit union signs a lease on a space at 870 Commercial Street
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Harry and his only employee, Laverne Bickel, required even more space by 1961, so the credit union signed a five-year lease for space at 870 Commercial Street. Read More »
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Harry Johnson hires its first full-time employee, Laverne Bickel
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Harry Johnson hired Laverne Bickel to assist in credit union operations. She would remain with the credit union for 32 years. She retired in 1991 and was beloved by employees and members. Read More »
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The credit union moved to 1715 State Street
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In 1958, the credit union moved to 1715 State Street, where it enjoyed all the necessary bells and whistles of an official business location, including office equipment, janitorial service, and its first electronic adding machine. Read More »
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Credit Union membership grew to 259 members and assets reached $141,363.
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Harry Johnson retires. Credit union operations are moved to his kitchen on South 12th Street.
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When Harry Johnson retired from education, credit union operations moved to his home kitchen at 2810 South 12th Street for the next 3 years. Read More »
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Credit Union Treasurer Harry Johnson and his secretary manage operations of the school office
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Credit Union Treasurer Harry Johnson, then principal of Salem Senior High School, and his secretary managed credit union operations out of the school office and funds are kept in a desk drawer. Read More »
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The first annual meeting was held
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The first annual meeting was held on December 4, 1935. Each of the 17 members present paid $5 for one share in the credit union. Read More »
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Salem Public Teachers Credit Union was founded
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Following the passage of the Federal Credit Union Act, Salem Public School Teachers Credit Union was officially founded. A share cost $5—the minimum deposit policy still in place today. Read More »
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The Federal Credit Union Act became law
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In 1934, in the middle of the Great Depression, the Federal Credit Union Act became law under President Franklin D. Roosevelt. Read More »