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Title edit
California's First Federal Credit Union Welcomes You!
Description edit
Excerpted from the website:
- As our new name reflects, the credit union was chartered on December 8, 1934 as the first federal credit union in the state of California. The original family owners of Adohr Milk Farms, Merritt and Rhoda Adamson, were approached by the Farm Credit Administration in 1933 about forming a credit union for its employees in Los Angeles. With start up capital of $600 from an employee organization the credit union began business. Employees were encouraged to join the credit union and save 50 cents a month. By our first Annual Meeting in 1936 the credit union had 433 members, loaned out $45,000 and assets had grown to $23,500.
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English
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