Tiny group organizes in 1945 —

<a ~ WHEN THE Bank of Montreal
:. pulled out in 1938, the tiny town

-. Of Terrace was left without any
“financial services.

Rupert, then a 90-mile train ride
away. .

7 Merchants ” began to provide
nudimentary. banking-type ser-
res.

That situation, and an invitation
‘om the ‘University of British
‘Columbia, resulted in a small
roup: “of ‘people: going to Van-
couver that year to attend a semi-
Nar Of Co-op movements.

What. they: learned bas now
resulted in the Terrace and Dis-
trict‘Credit Union, celebrating its
50th anniversary this year.
“Although local citizens began
talking ‘up. the-idea of a credit
““Mnion‘insthe late 1930s, discus-
~“slon-ground to a halt because of
; the: Second World War,

“It -was’ revived . immediately
fter the war when small groups
people began holding meetings
-in’ private homes, says current
board “member Gordon Wat-
mough who has begun compiling
i history of the credit union. :
‘The minister from the Anglican

counterpart. were active
nicipants in backing the idea of
are Jocally-owned financial institu-

‘Other leading figures included
Corbin: King, Floyd and Ivan

~-Houlden,

-Many of the same people inter-
ted ‘in a credit union were also
interested in a consumer co-0p,
says Watmough.

‘Although the two are separate,
‘they were very much interwoven
terms: of philosophy and still
** notes, Watmoigh =

o-op and some-of the same in a
redit union.”’

-Ctedit union, not so much because
of who’ its proponents were, but
from what others thought of co-
opera tive movements.
"People: thought of the idea as
communist,’ said Watmough in
- - Roting. that Communists were in-
- volved. in-organizing people. dur-
ae ‘ing the Depression, ied oti aiy
Adding to this was the‘start of
‘the Cold War after the Second
- World War.
-Watmough said there was also a
“reluctance on the part | of
businesses who were afraid of
any-attempt by people to organize
themselves,

The tiny group that met in 1945
set. membership dues at 50 cents
each and by the end of the year,
assets totalled $45.

‘The first loan was made in Jan-
uary 1946. It amounted to $50
and nearly depleted the young
credit union’s reserves,

An official charter was granted

in September 1947,
"Even though the charter
wasn’t granted watil 1947, the
credit union was active in 1946,”
said Watmough. - .

“And that makes it the oldest
continually active financial in-
stitution in town,’” he said,
“That’s because the Bank of
Montreal hadn’t returned by the

_ time the credit union opened. The
Royal Bank opened in the late
1940s.

At first the credit union offi ce
operated on a volunteer basis in
the home of Stuart Campbell who
owned the Riverside Motel.

But with membership growing,
the credit union board decided to
move into Terrace proper,

High tech marks credit union future |

FROM 17 CHARTER members

-:- 30° years. ago, the Terrace‘ and

' District Credit Union has grown

to 4,800 members and assets of
$35 million.

“We've doubled in (asset) size

“in the last five or six years,”

notes credit union manager
Dennis Brewer.
“He's predicting — continued

growth and a conversion to high
“tech ways of doing banking as the
199Ds progress.

Chicf among those is the ability
to use the keypad on a touchtone
phone to pay bills and transfer
money.

- “And there'll be less physical
contact for basic services such as
deposits and withdrawals,” notes

Brewer. of the widespread use of
bank machines.

: He expects the touchtone phone
service to be working by the end
of the year.

- But as banking services convert
‘to high tech means, there will still
be 4 personal connection.”

al ‘ll come. in, the form of tellers

The ‘closest bank was in Prince ©

urch' and his ‘United Church .

Frank, Ted Johnston and Alex -

tute’ were interested in a food:

ut. ‘there was tesislance to a

tes will

AS BUSINESS grew at the Terrace and District Credit Union, so did the: need tor ‘Space: In 1982,
the credit union expanded its Lazelle Ave. structure. At the official opening ceremonies were Jim:

Steele (lef), the chairman of the credit union board at the time: and George Turner, one of the
arlginal 17 charter members of the credit union oe.

A building account was estab-
lished and dances and card parties

_held to mise money for new

facilities.

In co-operation with the Co-op,
the credit union bought a surplus
Second World War army hut
‘Measuring 24 feet wide by 120

- feet long. Its price was $726.65

and the credit union paid $426.65
of the amount. —

The hut was ‘cut in half and the
credit. union. portion. moved to a
lot ,on the. north, Side of Greig,

across the street and: east of the

current Terrace Hotel.

The co-op moved its half to
where the gas bar beside where |
its retail complex now stands.

At first the credit union opera-
ted a small office at the front of
its building — open:two nights a
week —- and held dances, parties
and meetings in the back section.
That lasted until the building
became too expensive to operate
and didn’t conform with the num-
ber of square feet allocated ac-
cording to ils assets. '

So the building was sold and in

the spring of 1949 the credit
union moved into rented space in
the Terrace Co-operative. Associ-
ation building,
That marked the beginning of
the era of paid employees and
gradually expanding services,
Business grew to the point

- where the credit union decided a

separate building was needed,

Land was bought on the.4600
Block Lazelle and in December
1972, the credit union moved to
new facilities.

Business expanded again over
the next decade and an addition.
was put on the building in 1982.

Credit union board member
Gordon Watmough welcomes
any additional information o on its
history.

acting as financial counsellors for
information on term deposits,
RRSP and the like, .

“There’s a growing sophistica-
tion in the public about banking.
They've become more rate con-

a at aie ; ts :
PROOF POSITIVE that bank vaults are constructed to be im-
penetrable comes in the form of this picture. It’s of the vault

structure for the Terrace and District Credit Union building on’:
Lazelle Ave. This picture was taken in 1972, the year the bullding -

was officially opened. - *

STUFFED ANIMAL being held by Terrace and District Credit
Union chairman Jim Mantel and manager Dennis Brewer signify
donation made to the Terrace Public Library's new children sec-

‘tion. The donation of $25,000 over the next three years is In
_ Fecognition of the credit union's 50th anniversary this year, .

‘ to submit their supportive financial information, budget plans nd:

Brewer.

He estimates the credit union
will spend = approximately
$300,000 on the renovations,

The growth of electronic bank-
ing means people can have ac-

“There's a growing sophistication in the public

about “banking,” says credit: union manager

Dennis Brewer.

scious, there’s more competition .
and we have to be ready to pro-
vide more services,’”. ; said
Brewer... “e ;

To that end, the credit union is”
renovating ‘its interior, ‘creating.
more customer service stations.

And more credit union employ- -
be trained to vassist
customers. ms

“We'll have more e people able

to help customers, Some. of. this...

was doné to alleviate. concerns .
that arose froma survey-of our”

members about lineups," sald PC

‘counts in one area a yet live some-
place else,

Brewer. said itn be particularly. cs
“helpful for those who live in more. -
_oullying areas ‘such as: the Nass~
Valley.

Yet - Brewer cautioned | ‘that
devices such as cash machines
remain expensive propositions £ for.

more rural areas and will need to o

-be heavily subsidized. -
He said some. outlying. places
might

Point-of-sale features customers.
deducting the cost of items right
from their bank account.

As the ability of financial in-
stitutions to do business changes |

over the next few years, so will

‘the types of customers,

“In the . credit -union’s case,
Brewer said more and. more
members have become “small
busiriéss operators. -

“Although our base has always
been to provide personal mort-
gages and‘ loans, we are branch-

ing out to fully service more of

our members,’ he added.

~The credit union is'a member of 4°:
the B.C, Central Credit Union .

system. . ~

‘Member credit unions will: ‘S0on ne
“Introduce a’ sophisticated: come. :
puterized information system,

Iti allow. credit: unlons more:

“Gites ANEW food bank in town.

The Terrace Standard, Wednesday, October 18, 1995 - AS

CORRESPONDENCE FOR THE TERRACE STANDARD
The Mail Bag

Giesbrecht strikes back

Dear Sir: :

Recent articles on the finances and provincial funding of Mills
Memorial Hospital (MMH) have been short on fact and long on
emotion, Advertisements placed by the RE.M. Lee Foundation
have also provided little to explain the issue except for the far too
common simplistic, ‘“Victoria won’t give us enough’’..

Literature (political) from the MMH medical staff even appeared
at the hospital waiting rooms and some of the local: ‘doctors ai are rais-
ing the issue when patients are in for a visit.

At this point my only information comes from a short conversa=
tion with the Chair of the Board and from media coverage, Since
then ] have attempted to get specific financial information from the
ministry and the hospital administration. I am just-a tittle reluctant’
to follow the parade because we have heard all these dire claims be-
fore. That was in 1992 and it-was followed ‘by an inctease in the
budget of 3.4 per cent.

I take the board at their word that they are taking another hard
look at their books and the ministry will, be making its decision in
mid-November so ]’m naturally puzzled by the purpose, of creating
fear and anxiety at this point.

Frankly unless there is an acceptance of the fiscal restraints :
brought on by federal Liberal off-loading of health care costs and
measure of cooperation in trying to make hospital operations’ more
efficient, things could get lot more critical. .

What is the purpose of launching a public campaign. while. tie 7
ministry is still] waiting for information. How will this tactic. con--
vince the ministry that our case is right when every other hospital is
going through the same difficult process?. I’m -afraid: that. thetoric,
which is easy to come by, without the facts won't be that per
suasive.

In the past four years the hospital news, has not been aul bad; We:
got approval for C.T; scanner operating costs. We also had approval: ts
for a‘ teleradiology. pilot project and in Kitimat we. managed ‘to:
retain the orthopedic service and approval has been, granted for: ia:
7 million health center. :

‘Even though the federal government keeps cutting its ‘share: of.
health costs to the provinces, B.C. has increased healthcare funding*
~ for four years. Even at MMH the increases from 1992 10 1996 have”.
been 3.4 per cent, 3.6 per cent, minus .5 per cent and .2 percent. :
_ These have not been great increases but t hardly the funding freeze.

_ 80 frequently repeated,

I’m not even including all the extra resources we received for the: 3
community health programs which are intexided-to deal with those:
high scores this area gets in teen pregnancies, alcohol related illness j
and all those other community health concerns. oe.

"Now. a-staff person at MMH claims these are not really i increases ;
because they were intended to cover wage increases, diabetics edu-

cation, geriatrics outreach and. adolescent health programs, and CT.

Scanner operating costs... :
Am J to assume from this that none of the increase ‘provided better: -
hospital ; services and therefore, it doesn’t count. Sorry, but that Just
isn’tlogical, Ss
Consider that in four weeks, of March 1995 MMH moved from a: 5
$200,000 isurplus at. the. beginning - of ‘the month to “a $120,000:
deficit at the end of it. According: to ‘the administrator this was: be-:
cause of an end of the year maintenance program and‘an influenza:
outbreak but the ministry: is still wailing for the: Ginancial data:
~ Support this claim. |...

jefe board.at Mills: ; Memorial H Hospital and. its, supporting hospital : a
foundation have also looked at regional. designation a5 coh ‘ing their: oe

financial problems. This is not supported by other hospit
region and any decision on this will have to
health council. seh EE
Apparently. the statistics provided to the’ ministry’ do not’ ‘stippo *
the case. Mills already gets ‘funding for ‘cross region transfers, One.
common fear is that specialists will leave if the MMH docén’t: ‘get
more money. Since every other hospital in B.C. is experiencing the .
same challenges does this claim make serie?
The ministry sent letters to.all hospitals Jast May advising the
what their entitement would ‘be.. MMH was informed that because. .-
they still had efficiencies which. could be made their’ ‘entitlement’
was lower than it could have been. The same letter asked’ hospitals.

» financial: ‘projections by June 23, 1995.

Here we ‘are in October’ and when I éall the  mainistiy they.

_ they are still waiting for supporting informati

of the deficit and ‘Strategies to address: it:
He

viculture caabeactnns: mesg .

This is true, | but the main idea of the program i is 5 to develop skills
of graduates so they may.become gainfully. employed in the grow
. ing silviculture industry here ind avoid perennial unemployment.

THE START IS FOR PEOPLE LEARNING TO READ 7

_The Start |

New food bank

This: one Is being run by students ai Northwest Continunity
College.
‘are going hungry. becau
e énough money to go to school- and buy: fc

= es

malo ae

etic AEA inl or BT

Scere