PAGE 12

Charles

Charles Kofoed is seventy-two
years old and the only
remaining member of the

originators of the Terrace and -

District Credit Union.

The writer talked to Mr.
Kofoed in a telephone interview
earlier this week where he

revealed some insights into the.

early history of the Credit
Union.

“The Credit Union started in
Terrace because we felt there
was a common need for it.
There were other banks in
Terrace at the time but the only
way you could borrow from
them was if you had lots of
-collateral.: With the Credit
Union you could get loans up to
one hundred dollars. fairly
easy,”

_ “Many of the people in this
‘area were in some sort of
financial diificulty at the time
(this was the period following
«the end of World War 2) so there
definitely was a need for
something.”
_ “Tt only took us about three
months from the time we really
got down to it until we had
established the Credit Union in
Terrace, There were seventeen
in the original group and we all
: Studied. courses in the Credit
Union movement from the
extension department of the
University in Vancouver (,
-U.B.C.}, The courses lasted
about twelve weeks and then on.

Kofoed

last of the
founding
members —

~ PHE HERALD CREDIT UNION SUPPLEMENT

aie!

“WEDNESDAY, “DECEMBER

Best Wishes

9
sone
“a

eos

= mx FOO Fetatetals!
saletotetetesect
oe

fatat os
eee

“at

ae

=
na,

-
o

cr,

Ne

Pe

ee:

es
$3

“
et

a

the # of September in 1945 we
opened the Credit Union.”

“From then. its grown
strongly and steadily. There a
never has been any great boom, 72
it just grew and grew. People 2
would move to the area from #2:
other areas where the Credit $24
Union movement was strong, 2%
places like the prairies and Seq
even Vancouver,” ae

When I asked Mr. Kofoed his 35
age, he laughed, a pleasant, 3-4
friendly laugh and said, ‘I'm a
older than twenty-five. et
younger than seventy-five.” He Som
is seventy-two and still active S23
and alert as he was when he =
help found the Credit Union.

And, commenting upon the
opening of the building.

- “It makes me fee) sad in a
way. Of the original seventeen
who started this thing, I’m the
only one left,” i

“But, it just goes to show you
what can be accomplished when a
people pool their talents and =
work together for the common
need. We started with less than
$600 and look where we are
now."

Charles Kofoed, alive and
living in Thornhill is very much
responsible for making ' the
Terrace and District Credit
Union what it is today.

On this, the eve of the opening
of the new building, we salute |
Charles Kofoed, seventy-two ||
“years young. 7

iil as