Credit Union Times - Centennial Edition - (Page I24) CeLeBrAtiNg 100 YeArS , SPeCiAL CeNteNNiAL editioN Post-War era Launched growth of BrightStar CU By eileen M. cOurter CU Times Correspondent-at-Large SUNRISE, Fla. — They liked what they saw. During World War II Broward County bustled with activity as training bases flourished. In fact, accounts from the Broward County Historical Commission note that every airfield in the county, plus the future site of Broward Community College’s central campus, was a military facility. In the late 1970s the credit union entered the computer age with an NCR system. and withdrawals recorded. It took the credit union 14 years to reach 2,192 members and $1 million in assets. The astounding growth of the area as a whole helped the credit union prosper. From 1930 to 1970 Fort Lauderdale’s population soared from 17,996 to 139,590, Hollywood from 6,239 to 106,873, Pompano Beach from 4,427 to 38,587 and Hallandale from 1,827 to 23,849. The headcount of Broward County as a whole rocketed toward a million residents. The role of the credit union–which today has more than 38,000 members, $250 million in assets, and a community charter covering Broward County, Boca Raton and Delray Beach–through the decades was honored in a Fort Lauderdale Historical Society exhibit, “The Businesses That Built Fort Lauderdale.” So what did BrightStar bring to the table? “In the era when we were formed there weren’t financial institutions available to the teachers of Broward County,” said Crockett, the CEO. “We have many members who tell us, ‘You were the institution that gave me my first credit opportunity, my first signature loan, my first car loan.’” Sam Chesser, vice president of marketing, added that “we have some members who have been with us for 50 years. They tell us all the time about the important role we have played in changing their lives.” One example is Dr. Dorothy J. Orr, chairperson of BrightStar’s board of directors. She was selected in 2007 as the Credit Union Executive Society’s Director of the Year . “I will never forget, as a new teacher starting out, BrightStar Credit Union reached out and showed me how I could be part of a financial institution that helps The BrightStar computer room in the 1990s. the morning and head for jobs as truck drivers, nurses, supermarket clerks and the wide range of occupations found in any American community, that’s true in Broward County. “People live here like people live anywhere else,” Crockett said. “They need housing, loans and a place to park their money.” Even in a time when credit unions’ proud history may not impress a Wall Street focused on what-haveyou-done-for-me-lately, he believes credit unions can remain true to their roots. Chesser agreed. “Every week here, if not every day, we discuss how we can better serve our members,” he stated. “We run a financial institution, and our first priority is to make sure the credit union is safe and sound. But our members drive a lot of our decisions.” Suppose the credit union were a human being. What would Crockett want on its tombstone? After the war, thousands of servicemen and women showed how much they thought of the palm trees and warm beaches they had enjoyed by moving permanently to the area with their families. What had once been described as a land “unfit for human habitation” thrived. The rapidly growing population included children. That meant new schools were quickly built and teachers hired. In 1946 Broward County Teachers Credit Union, today BrightStar Credit Union, was chartered with 26 founding members. “All credit unions that were formed at that time, including ours, were needed,” said Ralph Crockett, current president/CEO. The first office was a desk in Fort Lauderdale High School. Eventually the credit union moved into a converted janitor’s supply closet. The credit union’s first permanent office wasn’t built until 1964. Of course transactions were posted by hand, and members brought in their passbooks to have deposits In 1962, the credit union was in a temporary office leased from Broward County Public Schools. others,” she recalled as she received the award. Today, Chesser said, “We offer not just for teachers, but now for the rest of the community as well, a good alternative to banks.” Who are all these members and potential members? Although the word “Florida” often stirs up images of Mickey Mouse strolling the streets of Disney World, retirees lounging in their condos and college students partying on spring break, Crockett said members come from all walks of life. Just as most Americans get up in I will never forget, as a new teacher starting out, BrightStar Credit Union reached out and showed me how I could be part of a financial institution that helps others. —Dorothy J. Orr “It’s quite a list,” he answered. “You couldn’t get it all on a tombstone. Perhaps ‘Members First.’ But we want the credit union to be around 60 more years. It’s not just about the moment. It’s about longevity, and being here for our members now and in the future. If we continue to give our members everything we can possibly give them in terms of quality service and the best products, we’ll be around for a very long time.” —ecourter@cutimes.com Cooperative Spirit, History run deep at Workers’ FCU By eileen M. cOurter CU Times Correspondent-at-Large STAFFORD SPRINGS, Conn. — Unemployment is high. People are troubled about the cost of food and the state of the nation’s economy. There’s been a lot of attention paid to this year’s Olympics, held in a country whose politics have concerned the United States. Credit is tight. It’s a presidential election year and a record turnout is expected at the polls. It could be 2008 (Olympics in Communist China), but it could also be 1936 (Olympics in Nazi Germany). That’s when Workers’ Federal Credit Union was formed, and the credit union’s history reflects what was happening during the Great Depression. People in Stafford Springs were feeling the strain. To (continued on page 25) Workers’ FCU moved into this office in the late 1980s. It’s still the credit union’s headquarters. www.cutimes.com 24 Credit Union Times, December 2008 http://www.cutimes.com
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