1944 was a very significant year. In war-torn Europe, the massive undertaking that was D-Day that took place in France was well underway.
Russian troops recaptured Minsk, the last Nazi stronghold in their overrun country. Thousands of miles away in the Pacific Ocean, American forces pushed their way towards victory.
That year, new names echoed around the world – Bougainville, Leyte, Saipan and Guam.
In Vernon, the army camp was tremendously active with the retraining of allied troops, already battle worn, for the last remaining offensive of World War II in the Far East.
One evening, in amongst all of the whirling international war news, a small group of Vernon men sat around a kitchen table with one thing in mind – to improve their own lot in life, and to provide the then returning veteran men and women with an easier, more accessible system of money management and personal financial control.
Who were these men? At the time of this writing, no one remembers their names.
Neither is anyone sure of how many people threw money into that first pot, nor how much. But the result was the Vernon and District Credit Union, which today is known as VantageOne Credit Union, the only North Okanagan-based credit union.
2014 will be the 70th anniversary of this financial organization, and VantageOne’s board of directors is marking the event with a credit union history book project.
“We originally discussed several ideas for memorializing this anniversary event, a book made the most sense of all,” said Glenn Benischek, CEO of VantageOne.
“A book means that individual credit union members, or in-house personnel, or people who have served on the board – all through the years – can be identified and showcased as to their valuable contribution.
“It also means that unlike any other memory token, a book has a life of its own during the compilation process, and a continuing life thereafter as a reference for all of the people in our community.”
The book, titled From Cookie Jar To Computer, was officially launched at the grand opening of the VantageOne’s newest branch in North Vernon in September.
While the formation of the Vernon and District Credit Union was huge for the area at the time, it was hardly an original concept. It was part of a larger movement in the western provinces during the mid- to late-1940s.
The history of credit unions began in 1844, with a group of weavers in England, who established the Rochdale Society of Equitable Pioneers. They sold shares to members to raise the capital necessary to buy goods at lower than retail prices, and then sold the goods at a savings to members.
In doing so, they became the first credit union. The movement then spread to Germany in 1850, Canada in 1901 and the U.S. in 1908.
VantageOne is encouraging its members, or anyone else in the community, to visit any of its five branches to pick up a book for a minimum $10 donation. All proceeds will go to the Vernon Museum and Archives.
The book was published by Kettle Valley Publishing Inc., the company of the late George Matheson, author.
VantageOne is also preparing to celebrate International Credit Union Day on Thursday.
