Brantwood Credit Union originated on March 9, 1932 because banks were not lending at the time. The founding members organized and began with $100.00 in assets. The original board members were: Sulo Loyva, Jacob Perkio Jr., Erick Simola, Jacob Gustafson, Victor Hautala, Herman Keto, Gabriella M. Kinnari, F.V. Saari, August Waisanen, and Kalle Heikkinen. To join as a member a $5.00 deposit was required, which is the required initial deposit to this day.<\/p>\n\n\n\n
The office was in the Brantwood Coop Store on Hwy D, the manager of the coop also served as the credit union president. There was a board of five voted upon members and a credit committee of three who would meet every Saturday morning at the coop for members coming in to apply for a loan.<\/p>\n\n\n\n
The credit union worked closely with the Brantwood Cheese Factory and members were able to set up pay roll deductions to make their loan payments.<\/p>\n\n\n\n
The first year that loans were charged interest was 1948. Before that there wasn\u2019t a need for the credit union to generate income, as it was a part of the Coop store.<\/p>\n\n\n\n
In 1964 the Coop Store closed and the Credit Union was moved to the Coop Station on Hwy 8 next to the Brantwood Post Office where BCU has been since then. The first office in the station was a small office (storage room) in the back of the building. We moved to a remodeled office in 1988 in the south east corner of the garage.<\/p>\n\n\n\n
Then in March 2003, the Credit Union bought the building from George Rick, remodeling the west side, where we remain with a new classy lobby and an office with storage rooms.<\/p>\n\n\n\n
Until the Brantwood Community Center was built across Stadium Road, meetings were held at Zion Lutheran church basement, the last one there was in 1979.<\/p>\n\n\n\n
It has been the uniqueness of credit unions to pay out net earnings to our members after expenses in dividends and sometimes loan interest rebates are also given.<\/p>\n\n\n\n
In reviewing some of the audit reports:<\/p>\n\n\n\n
1953 \u2013 173 members, $51,704 shares, $12,123 loans<\/p>\n\n\n\n
1962 \u2013 226 members, $123,667 shares, $91,615 loans<\/p>\n\n\n\n
1970 \u2013 190 members, $103,863 assets, $93,249 shares, $89,333 loans<\/p>\n\n\n\n
1984 \u2013 $598,074 assets, $266,469 shares\/certificates, $542,658 loans<\/p>\n\n\n\n
1990 \u2013 $1,139,377 assets, $1,024,896 shares\/certificates, $993,461 loans<\/p>\n\n\n\n
1996 \u2013 Reached $2,000,000 in assets<\/p>\n\n\n\n
2005 \u2013 Reached $3,000,000 in assets <\/p>\n\n\n\n
2009 \u2013 670 members, $3,613,299 assets, $3,175,139 shares\/certificates, $2,803,665 loans<\/p>\n\n\n\n
2022 (90 years) \u2013 846 members, $7,244,704 assets, $6,449,405 shares\/certificates, $6,551,742 loans<\/p>\n","protected":false},"excerpt":{"rendered":"
Brantwood Credit Union History Brantwood Credit Union originated on March 9, 1932 because banks were not lending at the time. The founding members organized and began with $100.00 in assets. The original board members were: Sulo Loyva, Jacob Perkio Jr., Erick Simola, Jacob Gustafson, Victor Hautala, Herman Keto, Gabriella M. Kinnari, F.V. Saari, August Waisanen,… Continue reading About<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-7","page","type-page","status-publish","hentry","entry"],"_links":{"self":[{"href":"https:\/\/brantwoodcu.com\/index.php\/wp-json\/wp\/v2\/pages\/7","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brantwoodcu.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/brantwoodcu.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/brantwoodcu.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/brantwoodcu.com\/index.php\/wp-json\/wp\/v2\/comments?post=7"}],"version-history":[{"count":14,"href":"https:\/\/brantwoodcu.com\/index.php\/wp-json\/wp\/v2\/pages\/7\/revisions"}],"predecessor-version":[{"id":122,"href":"https:\/\/brantwoodcu.com\/index.php\/wp-json\/wp\/v2\/pages\/7\/revisions\/122"}],"wp:attachment":[{"href":"https:\/\/brantwoodcu.com\/index.php\/wp-json\/wp\/v2\/media?parent=7"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}