[Congressional Record (Bound Edition), Volume 145 (1999), Part 5]
[Extensions of Remarks]
[Page 6560]
[From the U.S. Government Publishing Office, www.gpo.gov]




         UNITED BAY CITY CREDIT UNION: SUNSHINE FOR A RAINY DAY

                                 ______
                                 

                          HON. JAMES A. BARCIA

                              of michigan

                    in the house of representatives

                       Wednesday, April 14, 1999

  Mr. BARCIA. Mr. Speaker, our nation's history is filled with examples 
of neighbors, friends, and coworkers coming together to help one 
another weather the bad times that life has in store for each of us. 
The members of the United Bay City Credit Union are an outstanding 
illustration of how bad times can be used to create good times. It was 
now fifty years ago that the employees of Bay City Chevrolet were 
ending a 110-day strike. They decided to each pool together a $5 
contribution to help provide a resource for their coworkers who needed 
help to recover from a tough time, help that may be there in future 
years for those taking the wise step to invest in their own future by 
supporting the future of others.
  On April 20, 1949, the Chevrolet Employees Federal Credit Union was 
chartered. The subscribers to the organization certificate were Perely 
W. Bennett, Harry Vink, Richard E. Jane, Robert W. Kennedy, Chester S. 
Sosnowski, Harold McDougald, and Joseph M. Douponce. They took the 
first steps that resulted in George Reif as the first treasurer, and a 
portfolio that included 88 loans, 209 members, and bank balance of 
$410.89 in 1950. That small effort has resulted in a financial 
institution that today boasts more than 20,000 members, assets in 
millions of dollars, and more than 100 companies that serve as partners 
with the Credit Union.
  The history of this facility is enlightening. In 1954 an office was 
set up with a worker who was paid $31.25 per week to run the office. In 
1955, the name was changed to United Bay City Federal Credit Union. In 
1959, members with four years of seniority could borrow up to a maximum 
of $500. Branch officers were added over the years. Automated teller 
machines were added until now there are five. A phone access line was 
installed to make financial transactions even easier. And the same 
Credit Union that once limited loans to $500 today offers a Master 
Money/Check Card. To those who took the risk in 1949, today's services 
would probably have been considered too phenomenal to have even been 
thought of as dreams.
  But even with these changes brought on by advances in technology, by 
competition, and by consumer demand, United Bay City Credit Union 
remains true to its original purpose: to provide a safe haven for hard-
earned dollars, to offer responsible credit to make life's needs more 
manageable and life's opportunities more obtainable, to combine limited 
resources in a fashion that offer limitless options.
  Mr. Speaker, I urge you and all your colleagues to join me in wishing 
Charlie Booth, Linda Meyer, the excellent staff and all of the members 
of United Bay City Credit Union a most joyous 50th anniversary, with 
many more successful ones to come.

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