MuniCu.org
Title
Municipal Credit Union
Description
This credit union was formed in 1933 by seven individuals who decided the Municipal Employees of Beloit needed a credit union. The people placed on the Board of Directors were: William Paul Stone, John Boynton, Albert Haase, Myrtle Petitt and Ferdinand Boltz.
The treasurer was a fireman, so the credit union operated out of a cigar box kept in his locker at the fire station. When the treasurer would change, the credit union cigar box would be moved to the new treasurer’s location.
In 1965 the credit union was moved out of the fire station and into an office in the Goodwin building. By 1967, with assets of $500,000.00, the credit union was ready to hire its first employee, Betty Hoadley.
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