The 40s:
It all began with the vision of an organization that would offer service at cost, with the criteria for granting credit being based primarily on the character of the applicant. "Not for charity, not for profit, but for service" was their motto. "Helping people to help themselves" was their aim. Official operations began on March 6, 1940 with 14 shareholders each purchasing a $5 share.
The 50s:
In 1957, after 17 years of operations, the Rosenort Credit Union moved into its own offices after the construction of its first new Credit Union building at a cost of $5000. Having a building to call their own allowed business to take place 3 afternoons each week.
The 60s:
Numerous breakins throughout the years made insurance companies reluctant to insure the Credit Union. The building committee reached the decision to construct a new building worth $35,000. The grand opening of our second official Credit Union building was celebrated in August of 1965. Full time hours, new modern facility and stable managment saw assets grow from $100,000 to $1,000,000.
The 70s:
A change in the Credit Union Act allowed the Rosenort Credit Union to accept members from outside areas. Many members were attracted by our near prime loan rates. Increased demands for services saw the bookkeeping system upgraded from Ledger Cards to Electronic Data Processing. A loans manager was also added when assets reached $10 million.
The 80s:
By 1988 assets had leaped to the sum of $20 million. This cued the installation of an Automated Teller Machine (ATM), the use of an on-line data processing system, allowing accounts to be updated overnight, and major renovations to increase the area designated for member services.
The 90s:
Renewed interest in the Rosenort Credit Union after the renovation project and the 50 year celebration saw a surge in growth. This prompted the monumental task of planning and designing a building that would serve them well into the new millennium. June 24th, 1995 marked the ribbon cutting of the current 13,600 sq ft of office space worth $1.25 million.
A New Millennium; 2000:
Along with a new millennium came new leadership to the Rosenort Credit Union. As we said goodbye to our long-time general manager, Gary Friesen, we welcomed Brad Penner to the community and Rosenort Credit Union to serve as our CEO starting in spring 2008.
In addition to new leadership, Rosenort Credit Union took a step forward with the new service of online banking. This addition to our services is assisting members not only in our community of Rosenort, but across the globe, with many tasks such as tracking general account activity, making bill payments, transfers, and many other financial services.
2010 and on:
Now that another decade has started, Rosenort Credit Union is celebrating a milestone of our assets reaching a remarkable $200 million! Along with this achievement, we are working hard to serve our community through corporate and staff involvement in Rosenort including the Rosenort Trail Committee, Pembina Valley Challenge, Rosenort Festival’s pancake breakfast, RCU Rink Night, local church involvement, and many other areas as we work hard to assist in Rosenort’s prosperous future.
In 2011, Rosenort Credit Union responded to the growing demand from the Southern Manitoba area by opening up their first satellite office in Altona, MB. The office opened on December 5, 2011 and is now serving a fast-growing new membership profile.
Although we move forward with our Credit Union looking at new technologies and new ways of doing business, we still look to this quote from our Credit Union’s longest serving President, Edwin L. Friesen, “The strength of the Credit Union has always been dependent on the commitment of our greatest resource, the volunteers and employees of our organization. I trust that as the years pass we will be able to maintain the philosophy that gave birth to this organization. It is my sincere hope that we will never forget, we are here to serve God and each other and together we will continue to build for a better future".
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