A Look Back... The Pioneer Credit Union
Founding members of Pioneer Savings & Credit Union receiving their charter, c.1941.
On March 31st, 1941, history was made when 21 women – and two juvenile members, ages 5 and 3 – received the provincial charter to start the High River Pioneer Credit Union. Not only was this the first female led credit union in Alberta, but it was also the first in the world.
In 1933, women were unable to apply for loans, and were rarely in charge of their own finances. However, an industrious group of High River women took it upon themselves to learn about the management of co-ops and credit unions. Originally a group of UFWA women, they would save up their initial cash resources from egg, cream, and butter sales. In 1933 they would join the Cooperative Association. Their start-up allowed anyone, including women, to deposit and save their hard-earned money.
After its charter was granted in 1941, Credit Union meetings were held in various member’s homes, and later in Kelly’s Funeral Parlor. Eventually new premises were required, and the dilapidated former post office on 1 St. SW was purchased for $1400. The women would spend a further $1300 on renovations. This building would soon become a hub of activity, and their community room was in high demand. The kitchen in the building was used as a meeting place for service clubs such as Rotary and the I.O.D.E. The Credit Union would be housed in several different locations, until the construction of its current building in 1998.
Loans were often given based on character, not financial standing. One of the first loans given out was to a young woman who wished to go to nursing school. Other loans were given for the purchasing of chicks, feed, and calves. In its time as the High River Credit Union, there was never an uncollectible loan.
Other credit unions would join over the years, including the short-lived male-run Highwood Credit Union. The addition of this credit union came with one stipulation: the men had to get their financial woes in order before there would be any talk of amalgamating. A later addition of the Blackie Credit Union required a change of name. Now servicing a larger area, the bank would be known as the Pioneer Credit Union. The Credit Union is still going strong to this day, now under the name Servus Credit Union.
Built in 1900, this former location of the High River post office would be the first home for the Credit Union, c.1970.
Written by Delainey Niven.