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Public No. 8 Document Sty* (tatmimuttaiiti of MuBBtxttyuBtttB ANNUAL REPORT OF THE Commissioner of Banks FOR THE Year ending October PART 31, 1925 IV RELATING TO CREDIT UNIONS Department of Banking and Insurance Publication op this Document approved by the Commission on Administration and Finance 500 2-'26 Order 4142 ®Jje Comtmmumtltij of fUaaaarifuartta Office of the Commissioner of Banks, State House, Boston, January 19, 1926. To the Honorable Senate and House of 'Representatives of the Commonwealth of Massachusetts in General Court assembled. In accordance with the provisions of General Laws, Chapter 167, section I have the honor to submit the following abstract of the annual report The complete report of this department of the Commissioner of Banks. containing statements of the institutions under its supervision and other sta- 9, tistical information will be submitted as heretofore at a later date. Consolidated Statement of Resources of All Institutions under Supervision 1 of the Commissioner of Banks, October 31, 1925 P.D. ii 8, Part IV. year and have established a new record for such deposits. This increase, as in the case of savings banks and co-operative banks, has been largely invested in loans on real estate. period trust companies have absorbed the business and affairs of three national banks, and one trust company has been converted into a national bank preparatory to consolidation with another national bank. Three bills affecting trust companies, carrying the recommendation of this department for favorable action, have been filed for legislative consideraOne measure will secure for trust companies privileges relative to the tion. establishment of additional offices now enjoyed by national banks; another will enable such of our trust companies as are authorized to act in a fiduciary capacity to administer estates and trusts which include property located in other states, provided that such other states accord reciprocal privileges to Massachusetts trust companies; the third measure, which is similar to a national bank law, will remove from directors of trust companies certain These measures are designed to apparently unintentional restrictions. broaden the service rendered by our trust companies and to enable them to meet present day conditions and competition. During this Co-operative Banks There are two hundred and twenty co-operative banks now in operation The increase in aggrein Massachusetts, an increase of three during 1925. gate assets, 18.37 per cent since the last report, establishes another record Their increasing popularity is based, in the growth of these institutions. not only upon the aid given to the individual home owner, but also upon the opportunity for savings and investment offered through the medium of paidup and matured share certificates. The extent to which advantage of these opportunities has been taken is indicated by an increase of $25,000,000 in the amount of these certificates issued during the year. It is a fact of unmistakable significance that while in 1920, after an existence of forty years, the resources of our co-operative banks amounted approximately to $174,000,000, in 1925 they reached a total of $369,000,000, an increase of 113 per cent during the past five years. Credit Unions assets of the credit unions again have shown a substantial annual inThe crease, and it appears evident that this rapid growth will continue. inadequacy of the laws under which these institutions are operating and the The necessity for their revision has been commented upon in previous reports The special committee, appointed and remedial legislation recommended. by the legislature in 1924, submitted definite recommendations regarding such however, failed of adoption, having been referred to the next General Court. In order that the members of these credit unions may be given adequate protection, and that the proper development of the institutions may be promoted, favorable consideration of the proposed corrective measures embodied in the bill so referred, is urgently advised. legislation, which, Private Bankers Individuals, partnerships and corporations licensed by this department to engage in the business of receiving deposits of money for safekeeping or for the purpose of transmitting the same to foreign countries, have now been operating for a full year under the provisions of General Laws, Chapter 169. as amended by Chapter 473 of the acts of 1923. This legislation, by providing for larger bonds, has afforded more adequate protection to depositors, and has corrected certain other unsatisfactory conditions. Triennial Verification op Depositors' Pass Books The triennial verification of depositors' pass books and accounts was made during the first ten months of 1925 in all savings banks, savings departments P.D.8, Part IV. iii A comparison of the percentage of of trust companies and credit unions. accounts and deposits verified in the years 1925 and 1922 is given below: Percentage of Accounts Verified Percentage of Deposits Verified Savings banks Trust companies, savings departments Credit unions (snares and deposits) . . . . . 1925 1922 1925 1922 43.55 68.10 81.19 45.04 63.89 84.23 36.83 47.50 70.87 37.78 45.99 71.29 Unclaimed Dividends in Liquidation Pursuant to the provisions of Chapter 240 of the acts of 1925, amending General Laws, Chapter 167, section 35, all unclaimed dividends in the hands of the Commissioner of Banks for the creditors of the following liquidated institutions were delivered October 26, 1925, to the state treasurer, together with schedules showing the individuals to whom the money is due: Lafayette Savings Bank, Boston. Italian Workingmen's Credit Union, Boston. Italo-American Credit Union, East Boston. Peabody Hebrews' Credit Union, Peabody. In accordance with the act, these sums will be held by the state treasurer in trust for the various individuals for six years from the date of receipt by him, when the remainder, together with the interest earned thereon, if any, shall escheat to the commonwealth. Appended hereto are certain statistics covering the various institutions the supervision of this department, and information showing the progress made in the liquidation of those institutions in the possession of the commissioner. Respectfully submitted, A. HOVEY, under ROY Commissioner of Banks. CREDIT "UNIONS Credit Unions which have Organized and 1925 Sept. 19, 1925 Jan. 16, Commenced Business. Graton & Knight Employees' Credit Union, Worcester. Library Bureau Employees' Credit Union, Cambridge'. Credit Unions in Voluntary Liquidation. 1 Elmco Credit Union, Boston. 1 Farmanco Credit Union, Boston. Greater Boston Credit Union, Boston. 1 Grove Hall Credit Union, Boston. Navy Employees' Credit Union, Charlestown. Roxbury Credit Union, Boston. United Tailors' Association Credit Union, Boston. 1 Massachusetts Credit Union, Boston. Waltham Watch Credit Union, Waltham. 1 Commenced ? Completed liquidation during the year, liquidation during the year. P.D. 8, Part IV. STATEMENTS RELATING TO CREDIT UNIONS INDEX STATEMENT NUMBER ..... ........... — 2. 86 credit unions Aggregate statement of condition, October 31, 1925 86 credit unions Receipts and disbursements during year ending October 31, 1925 3. Statistics relative to 4. Principal assets 1. — . ............. ............... .............. and membership liabilities of credit unions from 1911 to 1925, inclusive . . Classification of loans 6. Profit and loss 5. 7. 8. Operating expenses Dividends and interest . . . . . STATEMENT . No. Aggregate Statement of Condition October Assets . . . . . . PAGE iv iv iv . . " v vi vi vi vii 1 31, 1925 86 Credit Unions P.D. 8, Part IV. c XJl Q H K o O CD a 3 P.D. VI STATEMENT No. 5 Classification of Loans Secured by: 8, Part IV. P.D. 8, vn Part IV. STATEMENT No. 8 Dividends and Inteeest Number of Credit Unions Paying at Each Rate : ABSTRACT OF ANNUAL REPORTS OF THE CREDIT UNIONS SHOWING THEIR CONDITION AT CLOSE OF BUSINESS OCTOBER 31, 1925. ABINGTON — CROSSETT CREDIT UNION RAILROAD AND BIRCH STREETS Incorporated November 14, 1923. Thomas H. Began business November 22, 1923. Winthrop C. Turner, Treasurer Bailey, President Arthur E. Doherty, Clerk of Corporation Board of Directors: T. H. Bailey, Minnie E. Casey, H. B. Crawford, Mary E. Davis, A. E. Doherty, Louise M. McDermott, Marguerite Parker, F. V. Thomas, W. C. Turner. W. Credit Committee: J. B. Casey, E. F. Phinney, Supervisory Committee: J. J. Reardon. T. Mclsaac, E. H. Naylor, P. B. Newcomb. BALANCE SHEET, OCTOBER 31, 1925 Liabilities Assets ..... Co-operative bank shares owned $800 00 814 80 Loans Due from banks and trust companies Savings accounts Checking accounts $657 00 Shares Deposits 3,449 34 . 80 69 45 36 Guaranty fund Undivided earnings Profit and loss . 2,086 32 . 680 98 149 71 . $4,382 10 $4,382 10 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts $242 00 Shares Deposits Loans repaid 6,282 56 3,018 00 266 50 8 75 273 84 . Interest . Entrance fees Cash, Oct. 31, 1924 $465 00 Shares Deposits Investments 5,358 16 Loans made Expense 2,722 00 14 71 . 686 32 . 98 97 113 37 12 680 Interest paid Dividends paid Interest refunded Cash, Oct. 31, 1925 53 98 $10,091 65 $10,091 65 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 35 53 106 . 25 cents ... Par value Largest Number Rate fully paid Number of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, May . . . . . . . $5.00 16 129 6% Total Expenses for Year 94 $14.71 Miscellaneous expenses 5% . 1, BEVERLY . . of dividend, Nov., 1924 Deposits Rate . number held by one member Aug. — 1. BEVERLY CREDIT UNION 170 CABOT STREET Incorporated February 20, 1917. Began business March Charles A. King, President 8, 1917 Walter S. Flint, Treasurer Albert P. Little, Clerk of Corporation Board of Directors: Edward Dunt, W. S: Flint, U. G. Haskell, C. A. King, F. I. Lomasney, A. Newell, G. A. Sands, B. F. Swasey, R. E. Thierfelder. Credit Committee: W. W. Laws, W. M. Supervisory Committee: L. S. Shay, G. L. Young. Smith, G. A. Gove, C. B. Hood. P. Little, J. H. P.D. BALANCE SHEET, OCTOBER ...... ...... Part IV. 31, 1925 Assets Loans Due from banks and trust companies: Checking accounts Cash 8, Liabilities $53,399 57 1,536 12 1,190 So Shares $46,146 14 3,699 42 685 17 2,491 02 2,357 74 747 05 Guaranty fund Reserve fund Undivided earnings Profit and Discount loss . . $56,126 54 $56,126 54 Receipts and Disbursements during the Year ending October 31, 1925. Rece pts Disbursements $11,114 46,389 4,673 24 89 245 171 4,220 Shares Loans repaid Interest . Entrance fees Fines Discount Other receipts Cash, Oct. 31, 1924 . 08 57 07 75 08 80 70 90 Shares Loans made Expense Dividends paid Guaranty fund . Cash, Oct. 31, 1925 $66,928 95 Miscellaneous Membership Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . $8,109 52,767 1,130 2,191 3 2,726 29 19 21 65 64 97 $66,928 95 P.D. 8, Part IV. Miscellaneous Shares Membership Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . 30 Par value 10 Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 147 L.50 Rate ... of depositors of interest paid during Interest payable Dec. 1, year Mar. 1, . . . $5.00 125 5,316 10% ...... Total Expenses for Year 43 6% . June . . Deposits Number . 1, Sept. 1. Salaries Rent Other expenses . . . . $622.00 120.00 177.44 $919.44 BOSTON 4 — AUGUSTOV Incorporated February 24, 1914. Arthur E. Jacobs, May Began business Board of Directors: J. 25, 1915 Herman President Harry Credit Committee: CREDIT UNION BALFOUR STREET (ROXBURY DISTRICT) Israelson, Treasurer L. Lourie, Clerk of Corporation Bashaway, Abraham Black, Herman Israelson, A. E. Jacobs, David Kobyelsky, Jacob Schwartz, Jacob Shapiro. Supervisory Committee: Laurence Israelson, Jacob Kaplan, E. Selansky. BALANCE SHEET, OCTOBER 31, 1925 H. L. Lourie. P.D. BALANCE SHEET, OCTOBER Assets Loans Part IV. Liabilities ...... ...... $161,302 09 658 54 Furniture and fixtures Due from banks and 8, 31, 1925 trust companies: 11,397 80 Checking accounts Cash 200 00 Shares Deposits $144,824 7,767 7,033 2,352 479 11,090 9 . Guaranty fund Reserve fund Undivided earnings Profit and loss . Other liabilities 79 50 82 44 42 66 80 $173,558 43 $173,558 43 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts . Interest 34 52 39 74 $78,744 16,014 259,384 19,190 457 Shares Deposits Loans repaid . 00 290 84 52 68 Entrance fees Fines Maintenance fees Other receipts 28 30 5,648 63 Cash, Oct. 31, 1924 Shares Deposits $26,576 13,006 313,102 3,714 337 . Loans made Expense . Interest paid 39 15 00 90 09 6,801 68 Dividends paid Interest refunded Bills payable Guaranty fund Undivided earnings 320 38 3,000 00 906 00 2 50 42S 05 . Furniture and fixtures Other disbursements Cash, Oct. 31, 1925 18 50 11,597 80 . . $379,811 44 $379,811 44 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 234 90 922 $2.00 .. ... Par value Largest Number Rate Rate of depositors of interest paid during year Interest payable Dec. 15, Feb. 15, . . of dividend, Nov., . . . $10.00 217 . 14,238 . . 10% 1924 ...... ...... Total Expenses for Year 14 6% . May . fully paid Deposits Number . number held by one member 15, Aug. 15. Salaries Rent Other expenses . . . . $2,448 00 525 68 741 22 $3,714 90 BOSTON — BLUE 1151 HILL NEIGHBORHOOD CREDIT UNION BLUE HILL AVENUE (DORCHESTER DISTRICT) Incorporated January S. 3, 1921. Began business January Frank Greenstein, President 3, 1921 Philip H. Louis, Treasurer Joseph G. Kofman, Clerk of Corporation Board of Directors: Wm. P. Aronoff, Max Gelles, Harry Gerber, N. J. Golden, S. F. Greenstein, H. Louis, M. E. Schneider, William Seigle, Max Ulin, Adolph Ullman. Credit Committee: Morris Cohen, Morris Supervisory Committee: Bertha M. Nathan Braunstein, Arthur Williams. BALANCE SHEET, OCTOBER 31, 1925 Liabilities $149,949 35 2,124 41 122 00 17,851 28 Furniture and fixtures Other assets Cash G. Kofman, Mappen, Benjamin Rosenblum. Aronoff, Assets Loans J. Shares Deposits $129,389 00 26,770 32 5,528 02 66 34 1,026 39 7,266 97 . Guaranty fund Reserve fund Undivided earnings Profit and loss . $170,047 04 $170,047 04 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts Shares Deposits Loans repaid . Interest . Entrance fees Fines Other receipts Cash, Oct. 31, 1924 $81,365 50,770 179,798 13,431 85 66 24 95 438 30 216 06 4,147 71 16,647 90 $346,816 67 Shares Deposits . Loans made Expense . Interest paid Dividends paid Furniture and fixtures Other disbursements Cash, Oct. 31, 1925 $33,424 33,108 249,102 3,584 638 4,495 761 3,849 65 75 33 23 48 40 90 65 17,851 28 $346,816 67 ; P.D. 8, Part IV. Miscellaneous Membership .... Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee, $1.00 for adults . . . . . 467 150 1,248 10 cents for Par value Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 children under 16 years. Total Expenses for Year Deposits Number of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, . . Rate . . May 1, Aug. 1. 134 Salaries 6% Rent Advertising Other expenses $5.00 400 25,877 8% P.D. 6 BOSTON — BOSTON 8, Part IV. AND MAINE RAILROAD EMPLOYEES' CREDIT UNION 152 CAUSEWAY STREET Incorporated February 26, 1915. Began business March 1, 1915 R. M. Spinney, Treasurer N. H. Ricker, President C. D. Smith, Clerk of Corporation Board of Directors: R. C. Babbidge, H. F. Frederick, F. T. Gleason, L. Smith, R. M. Spinney, H. D. Ulrich. Credit Committee: J. A. Freeman, J. J. Supervisory Committee: C. N. Eddy, J. Lloyd, F. J. Tague. E. Marshall, G. F. Sheridan. BALANCE SHEET, OCTOBER Assets ...... ...... Bonds owned Loans Furniture and fixtures Due from banks and trust companies: . Savings accounts Checking accounts Other assets . Cash . J. Miller, . . . . . . . . . . . 31, 1925 N. H. Ricker, C. D. P.D. 8, Part IV. BALANCE SHEET, OCTOBER Assets .... ..... Bonds owned Loans Furniture and fixtures Due from banks and Savings accounts Checking accounts Cash trust companies: . 31, 1925 P.D. 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts 55 82 06 28 479 21 141 38 15,033 91 Shares Deposits Loans repaid $8,908 37,583 144,286 9,894 . Interest . Entrance fees Fines Cash, Oct. 31, 192-1 Shares Deposits 83 46 44 63 95 39 412 21 505 49 16,521 81 $5,165 30,529 156,231 2,301 3,097 1,561 . Loans made Expense . Interest paid Dividends paid Interest refunded Guaranty fund Cash, Oct. 31, 1925 $216,327 21 $216,327 21 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 449 229 . 1,738 25 cents Par value Largest Number Rate . . . . . . . . $5.00 100 4,448 6% of dividend, Nov., 1924 ...... Total Expenses for Year of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, May . . fully paid Deposits Number . number held by one member . Rate . . 1, Aug. 390 Salaries 6% Other expenses . . . . $1,820.00 481.63 1. $2,301.63 BOSTON 183 — EAST BOSTON CREDIT UNION CHELSEA STREET (EAST BOSTON DISTRICT) Incorporated July 31, 1913. Began business August 14, Simon Board of Directors: Credit Committee: 1913 Alexander David Wolf, President S. J. J. Ellis, Treasurer Aronson, Clerk of Corporation Aronson, Nathan Bullish, Alexander Ellis, Morris Goldstein, Harry Milgram, Israel Soil, David Wolf, E. Zussman. Samuel Kansky, Israel Pearlmutter, (one vacancy). Supervisory Committee: Louis Bower, Louis Kansky, Harry Milgram. BALANCE SHEET, OCTOBER 31, 1925 Assets ...... Loans Due from banks and trust companies: Checking accounts Profit and loss . Liabilities $1,225 50 $989 60 331 00 Shares Guaranty fund 85 09 10 01 $1,320 60 $1,320 60 Receipts and Disbursements during the Year ending October £942 39 7,587 43 275 41 9 00 33 30 Shares Loans repaid Interest . Entrance fees Fines Cash, Oct. 31, 1924 31, 1925 Disbursements Receipts 304 82 84,911 43 3,701 00 Shares Loans made Expense Dividends paid Profit and loss 397 87 6 36 50 60 85 09 . . Cash, Oct. 31, 1925 $9,152 35 $9,152 35 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . Par value 31 61 $1.00 Largest . . . . number held by one member Number fully paid . . . . . . Rate of dividend, Nov., 1924 ...... ...... Total Expenses for Year Salaries Rent Other expenses . . . . $5 P.D. 8, Part IV. BOSTON 9 — FILENE CO-OPERATIVE ASSOCIATION CREDIT UNION 426 WASHINGTON STREET Incorporated October 21, 1921. Began business November Austin C. Benton, President 1, 1921 Charles P. Smith, Treasurer Charles P. Smith, Clerk of Corporation Board of Directors: A. C. Benton, W. H. Bixby, H. D. Hodgkinson, M. R. McCurdv, B. F. Raphael, C. P. Smith. Credit Committee: Maude E. Brennan, H. Supervisory Committee: L. T. McMahon, R. Floyd, E. G. Morris. C. T. O'Connell, F. W. Stuart, Jr. BALANCE SHEET, OCTOBER 31, 1925 P.D. 10 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Eece pts 16,089 01 Shares Deposits Investments Loans repaid 71,519 19,067 59,923 4,940 . Expense Entrance fees Guaranty fund Other receipts . 26 33 132 . Cash, Oct. 31, 1924 5,877 68 06 SO 87 96 18 00 61 Shares Deposits 32 $11,060 59,915 26,172 75,708 . Investments Loans made Expense 11 01 14 576 15 1,362 62 1,021 98 . Interest paid Dividends paid Interest refunded Guaranty fund Cash, Oct. 31, 1925 293 80 277 07 1,222 97 $177,610 17 $177,610 17 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 121 30 873 . 25 cents Par value . . . . Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 . . . . $5.00 50 . 5,008 . ...... Total Expenses for Year Deposits Number of depositors interest paid during year Interest payable April 30, Oct. 31. Rate of 541 Salaries 5% Other expenses . . . . $348.90 227 25 . $576.15 — GREATER BOSTON BOSTON PUBLIC SCHOOL EMPLOYEES' CREDIT UNION 15 BEACON STREET Began business April Incorporated February 14, 1921. Patrick M. 4, 1921 Elizabeth T. McSweeney, Treasurer Connolly, President John McMurrer, Clerk of Corporation Board of Directors: P. M. Connolly, D. A. Cusick, J. L. Galway, C. A. Kenneally, W. H. Lessure, John McMurrer, Elizabeth T. McSweeney, E. A. Moore, W. C. Tilton. Quimby. Credit Committee: T. E. Bunyon, Supervisory Committee: Anna M. Barry, Richard Clayton, Anthony Guida. J. F. Carr, B. F. BALANCE SHEET, OCTOBER 31, 1925 Liabilities Assets ...... ...... Loans Due from banks and trust companies: Checking accounts Cash $2,598 85 486 33 28 50 $2,706 00 132 60 16 87 258 21 Shares Guaranty fund Undivided earnings Profit and loss . $3,113 68 $3,113 68 Receipts and Disbursements during the Year ending October ..... ..... .... ..... Receipts Shares Loans repaid Interest . Entrance fees Fines Cash, Oct. 31, 1924 . 31, 1925 P.D. Part IV. 8, 11 BOSTON 250 — HAMPDEN CREDIT UNION EUSTIS STREET (ROXBURY DISTRICT) Incorporated July 17, 1916. Began business August Morris Rodnetsky, Treasurer Rubin R. Jacobs, President H. L. Lurie, Clerk of Corporation Board of Directors: M. Cohen, R. Jacobs, H. L. Lurie, Morris Rodnetsky, P. Credit Committee: 2S, 1916 Shaller. H. Israelson, B. Rodnetsky, (one vacancy). Supervisory Committee: H. Brick, Wolf Lurie, Joseph Lewis. BALANCE SHEET, OCTOBER 31, 1925 Assets Suspense Liabilities 90 96 50 Loans 5,931 . Cash 168 81 Shares Guaranty fund Profit and loss $5,542 30 325 68 329 23 $6,197 21 Receipts and Disbursements during the Year ending October 31, 1925 Receipts P.D. 12 Receipts and Disbursements during the Year ending October 31, 1925 Shares Deposits . Loans repaid Interest . Entrance fees . Investigation fees Cash, Oct. 31, 1924 8, Part IV. P.D. 8, Part IV. 13 BOSTON 32 — LORD BEACONSFIELD CREDIT UNION CENTRAL SQUARE (EAST BOSTON DISTRICT) Incorporated November 13, 1913. Began business November 19, David Peacard, President 1913 Louis Band, Treasurer A. S. Goldberg, Clerk of Corporation Board of Directors: M. Alpert, Joseph Band, Louis Band, Credit Committee: J. Chafetz, H. Chafetz, A. David Peacard, J. Preves. I. Eskin, Supervisory Committee: H. Davis, M. J. S. Goldberg, Rutsky. Flaschner, L. Shulman. BALANCE SHEET, OCTOBER 31, 1925 M. Green, Jos. Kleiman. P.D. 14 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 Di sbursements Receipts $10,928 79 1,341 96 27,017 94 3,902 29 77 75 431 84 7 00 1,239 67 Shares Deposits Loans repaid . Interest Entrance . fees Fines Other receipts Cash, Oct. 31, 1924 Shares Deposits $2,374 96 920 56 1,457 16 25,491 00 1,450 78 . Investments Loans made Expense . 497 88 Interest paid Dividends paid Cash, Oct. 31, 1925 1,311 19 11,443 71 $44,947 24 $44,947 24 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fees, $1.00 adults; 25 86 43 754 . minors. ... cents Par value . of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, May Rate . $5.00 400 . 6,634 . . . . 6% ...... ...... Total Expenses for Year Deposits Number . . . Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 58 4 . 1, Aug. y% 8 1. Salaries Rent Advertising Other expenses . . . . . $650.00 267.03 11.25 522.50 $1,450.78 — METROGRA BOSTON CREDIT UNION WARREN AVENUE 89 Incorporated July George 1, Began business November 1921. 1, 1921 Frank T. Marston, Treasurer Robbins, President J. Frank T. Marston, Clerk of Corporation Board of Directors: R. H. Brooks, Carrie L. Brown, E.W. Connors, E.W. Creed, G. H. Doughty, W. S. Johnston, F. T. Marston, R. C. Prescott, C. J. Rand, G. J. Robbins, G. J. Skelton, A. Beatrice Thompson, Etta L. Whitaker, Thomas Whitaker. M. Houghton, Credit Committee: G. C. A. Prince, Alvin Smith. Supervisory Committee: Helen F. Boyd, Katherine B. MacCarron, S. BALANCE SHEET, OCTOBER Elizabeth Skelton. 31, 1925 Assets ...... Loans Due from banks and trust companies: Savings accounts Checking accounts Liabilities $934 87 327 87 345 96 79 57 . Cash Shares Deposits $1,442 90 131 02 41 17 09 73 09 . Guaranty fund Undivided earnings Profit and loss . $1,688 27 $1,688 27 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts Shares Deposits Loans repaid . Interest $550 40 47 49 Shares Deposits 1,009 03 Loans made Expense 104 48 10 50 62 19 25 523 81 . Entrance fees Fines Other receipts Cash, Oct. 31, 1924 $36 00 35 . 1,400 00 89 69 4 14 . Interest paid 24 57 753 40 Dividends paid Cash, Oct. 31, 1925 $2,308 15 $2,308 15 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 32 8 104 . 25 cents ... Par value of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, May Rate . . . . . . . $5.00 28 274 4% Total Expenses for Year 36 4% . 1, . . Deposits Number . Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 Aug. 1. Rent Advertising Other expenses . . $6.00 17.00 66.69 $89.69 P.D. 8, 15 Part IV. BOSTON — METROPOLITAN CREDIT UNION 11 BEACON STREET Began business April Incorporated July 26, 1917. William J. 1, 1918 Melville F. Rogers, Treasurer Connors, President Melville F. Rogers, Clerk of Corporation Board of Directors: Mary A. Connors, E. H. Hinckley, McCullen, J. Mary E. Hinckley, A. Quigley. J. A. Johnson, R. G. Kilduff, M. A. Ries, S. A. "Walsh, Mildred West. Supervisory Committee: W. N. Hinckley, W. L. Leach, K. M. Rogers. Credit Committee: BALANCE SHEET, OCTOBER ASSETS 31, 1925 J. J. 16 P.D. Receipts and Disbursements during the Year ending October 31, 1925 8, Part IV. P.D. 17 Part IV. 8, BOSTON — THE SHEPARD STORES EMPLOYEES' CREDIT UNION 26 WINTER STREET Began business January Incorporated July 27, 1911. 1, 1912 Robert L. Lathrop, Treasurer E. C. Farrington, President M. McDevitt, S. Board of Directors: E. C. Farrington, J. E. Hodges, R. L. Lathrop, S. Credit Committee: J. C. Fraser, J. A. A. Mitchell, Supervisory Committee: G. B. Darling, Clerk of Corporation J. M. McDevitt. H. F. Wright. Doyle, V. M. Spinney. BALANCE SHEET, OCTOBER 31, 1925 Liabilities ...... Co-operative bank shares owned Loans Due from banks and trust companies: Savings accounts Checking accounts Other assets SI, 000 00 2,240 89 6,100 50 2,483 39 51 87 . . Shares Deposits $1,4S9 77 9,712 73 . 222 50 6 48 171 91 221 47 51 79 Guaranty fund Reserve fund Undivided earnings Profit and loss Other liabilities . $11,876 65 $11,876 65 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts Shares Deposits Investments Loans repaid Interest 76 54 Shares Deposits 10 Investments 46 55 19 40 159 62 1,809 50 Loans made Expense $1,596 21,914 8,034 13,629 489 . . Entrance fees Other receipts Cash, Oct. 31, 1924 . . Interest paid Co-operative bank shares Other disbursements Cash, Oct. 31, 1925 . . $47,652 93 Miscell Membership Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . Deposits Number ... of depositors of interest paid during year Interest payable Dec. 15, Mar. 15, Rate June 15, Sept. 15. $1,506 22,294 6,100 13,796 171 180 1,000 120 2,483 28 18 50 75 44 19 00 20 39 $47,652 93 18 P.D. Receipts and Disbursements during the Year ending October 31, 1925 8, Part IV. P.D. 8, 19 Part IV. BOSTON STATE EMPLOYEES' CREDIT UNION ROOM 121, STATE HOUSE Incorporated April, Norman 4, 1921. Began business May 1, 1921 Jennie G. Luke, Treasurer E. Cor win, President Grace L. Grover, Clerk of Corporation L. Grover, Grace M. Hamilton, Leonard Harris, Annie Jennie G. Luke, P. W. Powers, Dwight Robb. Board cf Directors: N. E. Corwin, Grace Credit Committee: T. F. Foster, L. A. Foye, T. A. Greehan, William Shield, J. Supervisory Committee: J. R. Benton, A. R. Booth, A. W. BALANCE SHEET, OCTOBER Assets W. Ward. Gilbert. 31, 1925 M. Hennessey, P.D. 20 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts 8196, S16 63 349,027 14 122,079 75 Shares Deposits Investments Loans repaid . Interest 549,769 50,100 453 6,221 800 9S.477 . Entrance fees Fines Furniture and fixtures Cash, Oct. 31, 1924 . 44 80 09 28 00 56 Shares Deposits 8137,085 360,963 56,153 521,112 16,143 9,859 25,160 1,990 291 244,985 . Investments Loans made Expense . Interest paid Dividends paid Guaranty fund Furniture and fixtures Cash, Oct. 31, 1925 . 01 48 78 04 82 76 53 09 83 35 $1,373,745 69 $1,373,745 69 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 1,055 1,359 6,059 10 cents . Par value Largest Number fully . . . . . $5.00 . 1,000 . 82,183 ...... Total Expenses for Year of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, . . . paid Rate of dividend, Nov., 1924 Deposits Number . number held by one member 4,706 . . Rate 5% . May 1, Aug. 1. Salaries Advertising Other expenses . . . . . $13,285.06 54.10 2,804.66 $16,143.82 BOSTON — TRADERS' 18 Incorporated July 11, 1914. Charles W. CREDIT UNION TREMONT STREET Began business October 7, 1914 Denis F. Mockler, Treasurer Birtwell, President Denis F. Mockler, Clerk of Corporation Board of Directors: P. W. Ayres, C. W. Birtwell, L. F. Bonelli, L. G. Brooks, D. F. Mockler, C. C. Ramsay. Credit Committee: William Bailie, C. Supervisory Committee: J. H. Bucek, F. R. Sawyer. L. Holland, Oscar Lindegren, J. L. Richards. BALANCE SHEET, OCTOBER Assets 31, 1925 P.D. 8, 21 Part IV. BOSTON — UNION WORKERS' CREDIT UNION ROOM 560, LITTLE BUILDING, Incorporated April BOYLSTON STREET 80 Began business April 4, 1921. 20, 1921 Harry Francis P. Fenton, President Harry of Directors: T. C. Brodigan, M. J. Byrne, J. T. F. Hennessey, Daniel Leary, C. S. Parnell, Board Credit Committee: W. J. Collins, W. H. W. L. Dana, F. P. Fenton, H. L. Haskell, Maud F. Van Vaerenewyck. Shea, A. D. Sheffield, H. A. Hart, Patrick Madden, Henry Wise. Supervisory Committee: A. E. Chandler, James Faulkner, M. J. Monahan. BALANCE SHEET, OCTOBER Assets L. Haskell, Treasurer L. Haskell, Clerk of Corporation 31, 1925 P.D. 22 Receipts and Disbursements during the Year ending October Part IV. Disbursements Receipts $3,235 16,520 17,649 1,582 Shares Deposits Loans repaid . Interest 8, 31, 1925 45 05 Shares Deposits 17 Loans made Expense 63 30 75 28 33 16,595 23 . Entrance fees Fines Gash, Oct. 31, 1924 $2,403 00 13,524 47 17,111 65 80 55 769 22 368 63 90 69 21,293 40 . . Interest paid Dividends paid Guaranty fund Cash, Oct. 31, 1925 $55,641 61 $55,641 61 Miscellaneous Shares Membership Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 123 111 . 350 25 cents .... Deposits Number of depositors of interest paid during year Rate 147 Par value . . . . . Largest number held by one member Number fullv paid Rate of dividend, Nov., 1924 . . $5.00 100 . . . 1,540 7% Total Expenses for Year Miscellaneous expenses SS0.55 5% . Interest payable Jan. 17, April 16, July 23, Oct. 8. BOSTON — WARREN CREDIT UNION 345 BLUE HILL AVENUE (ROXBURY DISTRICT) Incorporated November 29, 1921. Began business December 19, Louis Siegel, Treasurer Benjamin Bloom, President Solomon Waters, Clerk Board of Directors: 1921 Benjamin Bloom, J. of Corporation Green, D. A. Jacobs, Louis Siegel, Waters. J. Toibb, M. Waters, Solomon Credit Committee: S. Agranat, Louis Fox, Morris Liberman, Supervisory Committee: Wm. Fagell, J. Goldberg, S. Siegel. BALANCE SHEET, OCTOBER 31, 1925 Liabilities Assets Loans ..... $30,822 07 468 39 Furniture and fixtures Due from banks and Savings accounts Checking accounts Other assets Shares Deposits $28,375 16 2,281 92 . Guaranty fund trust companies: 1,039 64 .... . 657 95 870 44 1,553 00 116 07 Reserve fund Undivided earnings Profit and Other liabilities loss 183 15 1,140 84 . 208 35 $33,858 49 $33,858 49 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts $15,038 2,395 58,235 3,638 86 68 58 Shares Deposits Loans repaid . Interest Entrance fees Fines Other receipts Cash, Oct. 31, 1924 08 05 71 72 00 10 13 1,051 91 Shares Deposits $9,018 2,993 62,241 2,181 85 . Loans made Expense Interest paid Dividends paid Furniture and fixtures Other disbursements Cash, Oct. 31, 1925 $80,571 70 Miscellaneous .... Membership Shares 86 79 375 $1.00 . ... Par value Largest Number of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, 1, fully ..... ..... .... Total Expenses for Year 9 6% . May $5 number held by one member paid Rate of dividend, Nov., 1924 Deposits Number Rate Aug. 1. 13 60 66 05 1,310 02 208 16 835 77 1,697 59 . $80,571 70 Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 72 Salaries Rent Advertising Other expenses . . . . P.D. 8, Part IV. 23 BOSTON — WEST 62 Incorporated May END CREDIT UNION CHAMBERS STREET 22, 1912. Began business June 10, Max Board of Directors: Max 1912 Louis Kandall, Treasurer Bernard Finkelstein, President Kabatznick, Clerk of Corporation Dollin, Alexander Elman, Bernard Finkelstein, M. J. Forman, Kabatznick, Louis Kandall, Abraham Krasker, Harry Parker. Credit Committee: Isadore Dameshek, H. H. Levine, Henry Weener. Supervisory Committee: A. M. Berman, Abraham Geller, David Katz. BALANCE SHEET, OCTOBER 31, 1925 S. J. Gordon, Max P.D. 24 Receipts and Disbursements during the Year ending October Part IV. Disbursements Receipts $4,694 77 10,902 55 14,820 00 1,002 71 19 00 4,351 82 9,853 13 Shares Deposits Loans repaid . Interest 8, 31, 1925 . Entrance fees Other receipts Cash, Oct. 31, 1924 Shares Deposits 59 21 00 05 481 06 447 45 4,351 82 5,546 80 $4,271 8,606 21,886 53 . Loans made Expense . Interest paid Dividends paid Other disbursements Cash, Oct. 31, 1925 . . $45,643 98 $45,643 98 Miscellaneous Shares Membership 38 Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 19 127 50 cents . ... Par value . . 37 of depositors 4 of interest paid during year Oct. 31. July April 31, 30, Interest payable Jan. 31, Number . . . $5.00 50 . . 1,706 . . . . 7% Total Expenses for Year Deposits Rate . Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 $53.05 Miscellaneous expenses %% . BROCKTON — BROCKTON CREDIT UNION 142 Incorporated David S. March MAIN STREET 27, 1917. Began business March 31, 1917 Daniel Brodeur, President S. Tarlow, Treasurer Louis Lulow, Clerk of Corporation Board of Directors: Edwin Adams, Alphonse Allaire, D. S. Brodeur, Onesime Gladue, Amedie LaBelle, Edward Lanoue, Louis Lulow, Daniel Mahoney, William Marlow, Frank McKeague, Joseph Ott, D. F. Reagan, Bernard Smith, D. S. Tarlow, W. S. Weston. Credit Committee: Fred Counter, Hugo DiSalle, Charles Feldman, Herbert Garner, Leonard Gustafson, Eugene Lamothe. Supervisory Committee: A. A. Golding, C. A. Mullins, Samuel Stone. BALANCE SHEET, OCTOBER 31, 1925 : P.D. 25 Part IV. 8, BROCKTON POSTAL EMPLOYEES' CREDIT UNION BROCKTON CRESCENT STREET 43 Incorporated January Began business January 5, 1923. J. Barry, Clerk of Corporation 17, 1923 Thos. Lawrence T. Briggs, President Thos. J. J. Barry, L. T. Briggs, E. N. Godbout, T. A. Grant, G. Hartford, Evelyn D. Hooper, J. J. Murphy. Board of Directors: G. A. Barry, T. Credit Committee: L. M. Bates, Supervisory Committee: R. J. J. 31, 1925 Liabilities ..... ..... Loans Due from banks and trust companies 57,762 32 5 47 1,270 90 . 30 98 Shares Deposits 56,470 73 1,771 14 . Guaranty fund Undivided earnings Profit and loss 229 23 319 27 279 30 . $9,069 67 $9,069 67 Receipts and Disbursements during the Year ending October 34,750 83 2,431 44 13,520 53 586 02 5 75 82 50 9 99 . Loans repaid Interest 31, 1925 Disbursements Receipts Shares Deposits B. F. W. Robinson, Fred Williams. BALANCE SHEET, OCTOBER Cash W. Harrub, M. Cameron, John Rooney. Crowley, R. Assets Savings accounts Checking accounts Barry, Treasurer . Entrance fees Fines Cash, Oct. 31, 1924 Shares Deposits 34 48 53 49 $1,189 1,891 16,705 110 55 133 1,307 . Loans made Expense . Interest paid Dividends paid Cash, Oct. 31, 1925 $21,393 06 21 66 35 $21,393 06 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 23 2 138 25 cents . ... Number of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, May Rate Par value . . . . Largest number held by one member Number fullv paid Rate of dividend, Nov., 1924 . . . . $5.00 201 . 1,269 . 7% ...... Total Expenses for Year 23 5% . 1, Aug. Salaries Other expenses . . . . $50 00 60.49 . 1. $110.49 BROCKTON — CRESCENT CREDIT UNION 189 Incorporated June CRESCENT STREET 18, 1919. Began business July Benjamin Richman, President 1, 1919 Harry Tarlow, Treasurer Esther Seligman, Clerk of Corporation Board of Directors: Samuel Buslovitz, Joseph Cohen, Maurice Raider, Benjamin Richman, William Richman, Aaron Rosen, Harry Tarlow. Credit Committee: Benjamin Miller, Joseph Simon, A. B. Yaffe. Supervisory Committee: B. B. Holman, Manual Miller, Henry Shacter. BALANCE SHEET, OCTOBER 31, 1925 Assets Loans ...... Furniture and fixtures Due from banks and Savings accounts Checking accounts Cash Liabilities $111,861 03 704 05 trust companies: . . . , 6,179 39 1,230 21 1,720 40 $121,695 08 Shares Deposits . Guaranty fund Undivided earnings Profit and loss . 563,171 44,015 7,826 2,847 3,834 32 93 55 20 08 $121,695 08 P.D. 26 Receipts and Disbursements during the Year ending October Part IV. Disbursements Receipts Shares Deposits Loans repaid $30,857 49,054 1S0.968 9,896 51 . Interest 8, 31, 1925 . Entrance fees Fines Cash, Oct. 31, 1924 IS 22 Shares Deposits 19 Investments 62 39 Loans made Expense $22,611 56,097 2,906 183,733 3,375 2,225 3,421 2,950 . . 1,259 70 Interest paid 5,234 76 Dividends paid Cash, Oct. 31, 1925 $277,322 06 81 21 39 68 64 22 50 61 $277,322 06 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 205 101 . 1,018 25 cents Par value . $5.00 500 . 12,636 . Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 . . . 7% ...... Total Expenses for Year Deposits Number 245 Salaries Rate 6% Rent of depositors of interest paid during year Interest payable Jan. 1, July 1. Other expenses . . t. . . . . $1,534.00 764.00 1,077.64 $3,375.64 CAMBRIDGE — BLAKE-KNOW LES CREDIT UNION 265 Incorporated December Thomas I. THIRD STREET 13, 1920. Began business December 17, James J. Walsh, Clerk of Corporation Board of Directors: A. M. Everett, Gustaf Frykman, C. F. Leary, Frank Murphy, T. James Walsh, John Webber, William Williams. Credit Committee: Thomas Gard, Joseph Hoar, Supervisory Committee: A. F. Dole, J. Charles Wade. B. Klein, (one vacancy). BALANCE SHEET, OCTOBER Assets 1920 Garrett L. Sullivan, Treasurer Simpson, President 31, 1925 I. Simpson, G. L. Sullivan, P.D. 8, Part IV. 27 CAMBRIDGE — CENTRAL CREDIT UNION 12 HOWARD STREET Began business November Incorporated April 27, 1921. Anna Frim, President 1, 1921 Clara Clara M. Tubman, M. Tubman, Treasurer Clerk of Corporation Board of Directors: Ida Bennett, Anna Frim, Nettie Goldberg, Lena Rosenberg, Rose Rosenberg, Clara M. Tubman. Credit Committee: Celia Brothers, Tiliie Rabinovitz, Supervisory Committee: Mae Zarling. Ruth Dickson, Eda Szeatmary, Edythe Zarling. BALANCE SHEET, OCTOBER 31, 1925 28 P.D. Receipts and Disbursements during the Year ending October 31, 1925 8, Part IV. P.D. 8, 29 Part IV. CHELSEA — WINNISIMMET Incorporated November 2, CREDIT UNION BROADWAY 232 1920. Began business November 2, 1920 Hyman Benjamin Feingold, President Silbert, Treasurer Isidor Kornbleit, Acting Clerk of Corporation Board of Directors: S. Barron, B. Feingold, H. L. Levine, M. Credit Committee: I. Barron, H. Stahl, B. Supervisory Committee : J. Stamel, J. Myers, S. Stahl. H. Sandler, H. Zeff. Cowitz, G. Liberman, H. Silverstein. BALANCE SHEET, OCTOBER Assets 31, 1925 Silbert, B. Smith, 30 P.D. Receipts and Disbursements during the Year ending October 31, 1925 8, Part IV. : P.D. 8, 31 Part IV. FITCHBURG — WORKERS' 48 Incorporated April CREDIT UNION WALLACE AVENUE 17, 1914. Began business April 22, 1914 John Suominen, Treasurer John Rantanen, President Charles Salo, Clerk of Corporation Board of Directors: Credit Committee: Franz Kerttula, John Rantanen, Charles Salo, K. E. Savolainen, John Suominen. John Erkkila, John Heikkinen, J. G. Laakso, Victor Oinonen, Eino Tiikkala. Supervisory Committee: George Makela, Lauri Moilanen, Kecry Puranen. BALANCE SHEET, OCTOBER 31, 1925 Liabilities Assets Loans Furniture and fixtures Due from banks and .... . . . $515,459 36 1,251 23 trust companies Savings accounts Checking accounts Suspense Real estate by foreclosure .. . . . . . Cash 20,000 00 32,56S 70 1,000 00 13,393 62 1,241 60 Shares Deposits $185,137 349,141 40,168 506 9,960 . Guaranty fund Undivided earnings Profit and loss . 50 52 23 72 54 $584,914 51 $584,914 51 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts $40,817 186,048 156,172 30,765 322 27,545 Shares Deposits Loans repaid . Interest . Other receipts Cash, Oct. 31, 1924 00 85 93 25 06 38 Shares Deposits . Loans made Expense . Interest paid Dividends psid Reel estate by foreclosure Cash, Oct. 31, 1925 . $30,081 167,950 169,563 4,412 14,223 8,235 13,393 33,810 Miscellaneous Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 234 143 . 1,388 none .... Shares Par value Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 840 of depositors Rate of interest paid during year 4J4% Interest payable Jan. 31, April 30, July 31, Oct. 31. . ..... Total Expenses for Year Deposits Number . . . 71 62 30 $441,671 47 $441,671 47 Membership 50 63 07 77 87 Salaries Bent Advertising Other expenses .... $5 : 32 P.D. Receipts and Disbursements during the Year ending October 8, Part IV. 1925 Disbursements Receipts Shares Deposits Loans repaid $32,789 13,603 64,327 4,144 103 . Interest 31, . Entrance fees 01 02 18 98 40 382 26 142 40 27,956 03 Fines Other receipts Cash, Oct. 31, 1924 Shares Deposits Investments Loans made Expense 02 $24,230 12,355 23,321 66,238 . 11 30 62 202 48 71 99 55 50 00 . 409 2,272 3 201 14,213 Interest paid Dividends paid Undivided earnings Other disbursements Cash, Oct. 31, 1925 $143,448 28 $143,448 28 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 429 322 . 1,202 25 cents Par value Largest Number paid Rate of dividend, Nov., 1924 of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, 212 . . . 4 . May 1, Aug. fully . . . Total Expenses for Year Miscellaneous expenses Deposits Number Rate $10.00 . number held by one member %% . 35 . 4,091 7% $202.48 1. HOLYOKE — HOLYOKE CREDIT UNION ROOM Incorporated September 205, 380 7, 1911. HIGH STREET Began business September 8, 1911 Pierre Bonvouloir, Treasurer Joseph Lussier, President Pierre Bonvouloir, Clerk of Corporation Board of Directors: Napoleon Bail, Abraham Bonneau, Pierre Bonvouloir, A. D. Durocher, Oscar Fafard, O. O. Lamontagne, Joseph Lussier, Victor Messier, Edouard Samson. Credit Committee: Valere Supervisory Committee: Ducharme, J. Stanislas C. Drapeau, J. Ducharme, H. Fleury, J. F. X. Roch. T. Roy. BALANCE SHEET, OCTOBER 31, 1925 Assets Liabilities Loans Due from banks and trust companies Checking accounts Cash . . $405,553 00 . 19,294 16 3,386 68 Shares Deposits . Guaranty fund Undivided earning Profit and loss . $73,749 332,387 11,681 2,789 7,626 26 62 25 23 48 P.D. Part IV. 8, 33 LAWRENCE — LA CAISSE POPULAIRE DE LAWRENCE CREDIT UNION 234 LOWELL STREET Incorporated September 25, 1918. Simeon E. J. L. L. Board Began business November Le Gendre, President of Directors: N. A. Langevin, M. 1918 Marchessault, Clerk of Corporation E. S. IS, M. Marchessault, Treasurer J. Le Gendre, L. M. Marchessault, Gedeon Parent, Achille Proulx. Credit Committee: Louis Gandreau, Victor Leclerc, Adelard Theberge. Supervisory Committee: W. R. Fecteau, Napoleon Hebert, (one vacancy). BALANCE SHEET, OCTOBER 31, 1925 Assets Loans Liabilities ...... $95,692 06 317 50 Furniture and fixtures Due from banks and trust companies: Checking accounts Other assets . . . . 2,514 10 147 82 . Shares Deposits $74,432 42 15,573 96 2,715 55 1,560 50 982 76 3,406 29 . Guaranty fund Reserve fund Undivided earnings Profit and loss . $98,671 48 $98,671 48 Receipts and Disbursements during the Year ending October Shares Deposits $31,697 34,507 90,419 9,348 . Loans repaid Interest 31, 1925 Disbursements Receipts . 01 76 Shares Deposits 08 96 Loans made Expense 28 39 99 02 Entrance fees Fines Other receipts Cash, Oct. 31, 1924 5 09 1,968 82 $14,896 27,983 115,908 2,418 . . 78 90 74 94 898 18 3,300 58 152 91 2,514 10 Interest paid Dividends paid Other disbursements Cash, Oct. 31, 1925 $168,074 13 $168,074 13 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee, 1% up to . . . . 142 76 . 544 $1.00. ... Par value Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 Total Expenses for Year Deposits Number of depositors of interest paid during year Interest payable Dec. 1, Mar. 1, June Rate 71 5% . 1, Sept. 1. Salaries Rent Other expenses $5.00 200 14,886 7% 34 P.D. Receipts and Disbursements during the Year Ending October 31, 1925 Shares Deposits Loans repaid . Interest . Entrance fees Other receipts . . Cash, Oct. 31, 1924 8, Part IV. P.D. 8, Part IV. 35 LOWELL — LOWELL BLEACHERY CREDIT UNION CARTER STREET Incorporated October Mark 3, 1921. Began business November A. Adams, President 3, 1921 Etta R. McDermott, Treasurer Jennie Mullin, Clerk of Corporation Board of Directors: M. A. Adams, M. J. Beecher, Gertrude C. Burke, J. H. Cleary, Malcolm Harkins, Alexander McCartney, Etta R. McDermott, Jennie Mullin, George Nussey, G. H. Ormerod, Annie I. Rogers, Patrick Rourke, Alice Sharkey, Phillip Sullivan. Credit Committee: W. Michael Cahill, J. Hartley, A. N. Johanson. Supervisory Committee: N. T. Hainsworth, Edward Hanson, P. F. Nagle. BALANCE SHEET, OCTOBER 31, 1925 Assets Bonds owned Loans Due from banks and Liabilities $46 50 7,491 13 .... trust companies: Savings accounts Checking accounts . . 13,363 05 Shares Deposits $15,554 70 4,204 85 662 3S 984 28 . Guaranty fund Profit and loss 425 68 79 85 . Cash Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 94 54 218 . 25 cents ... Deposits Number of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, Rate 49 4 . May 1, Aug. 1. %% Par value . . . . Largest number held by one member Number fullv paid Rate of dividend, Nov., 1924 . . . •. . Total Expenses for Year Miscellaneous expenses . . . 36 P.D. 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 D Receipts Shares Deposits Loans repaid $32,657 17,748 63,782 5,894 9 . Interest . Entrance fees 98 24 94 52 00 976 01 Fines Other receipts Cash, Oct. 31, 1924 31 10 4,138 88 Shares Deposits sbursemeiits $28,841 17,698 69,875 2,069 . Loans made Expense . Interest paid 282 Dividends paid Interest refunded Guaranty fund Other disbursements Cash, Oct. 31, 1925 1,682 1,461 59 65 3,202 $125,238 67 $125,238 67 Miscellaneous .... Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . 90 Par value 31 Largest 882 10 cents number held by one member Number Rate fully paid of depositors $5.00 508 10,475 . 6% of dividend, Nov., 1924 Total Expenses for Year Deposits Number 89 32 87 30 46 34 28 00 65 56 . . . Rate of interest paid during year Interest payable Nov. 1, Feb. 1, May . 1, Aug. 425 Salaries 5% Other expenses $1,602.00 467.30 1. $2,069.30 LOWELL — NOTRE DAME DE LOURDES CREDIT UNION 26 BRANCH STREET Incorporated September 12, 1911. Began business September 19, 1911 Joseph A. N. Chretien, Treasurer Aurele Nadeau, President Alfred Nadeau, Clerk of Corporation J. Baron, Joseph Cayouette, J. A. N. Chretien, L. L. Fortin, Frank Leclair, Alexi Mailloux, Alfred Nadeau, Aurele Nadeau, Joseph Peloquin, Omer Smith. Credit Committee: J. A. Baron, Ludger Coulombe, Edmond Pinard. Board of Directors: A. Supervisory Committee: Oliva Bergeron, X. A. Delisle, Arthur Simard. BALANCE SHEET, OCTOBER 31, 1925 Assets Loans Liabilities ..... $290,863 25 1,780 00 Furniture and fixtures Due from banks and trust companies: Savings accounts Checking accounts 130 49 7,575 23 2,167 34 . Cash Shares Deposits $44,242 249,114 735 8,423 . Guaranty fund Profit and loss 79 81 47 24 $302,516 31 $302,516 31 Receipts and Disbursements during the Year ending October 31, 1925 D isbursements Receipts Shares Deposits Loans repaid $3,160 104,880 44,563 18,185 Interest 47 94 89 76 56 40 42 73 7 00 . . Entrance fees Fines Guaranty fund Suspense Cash, Oct. 31, 1924 26,866 27 17,960 12 . Shares Deposits $10,242 112,087 38,130 3,239 11,286 15,000 6,326 4,455 218 31 4,439 393 9,873 . Loans made Expense . Interest paid Bills payable Guaranty fund Undivided earnings Reserve fund Furniture and fixtures Suspense Other disbursements Cash, Oct. 31, 1925 . Miscellaneous Membership . . 38 . . 141 . 777 application; 10 Par value .... Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 cents per share. Total Expenses for Year Deposits of depositors of interest paid during year Interest payable Nov. 1, 1. . May 60 00 14 07 73 00 96 27 06 Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee, 25 cents Number 11 00 65 $215,723 58 $215,723 58 Rate 99 . . . 777 4^% Salaries Rent Advertising Other expenses $5.00 P.D. 8, Part IV. 37 LYNN — LABOR 85 CIRCLE CREDIT UNION BLOSSOM STREET Incorporated July 23, 1912. Began business August Hyman S. 1912 Treasurer Polansky, Clerk of Corporation Board of Directors: Abraham Blackman, Harry Goldberg, Jacob Margolis, H. Credit Committee: 12, Abraham Blackman, Harry Goldberg, President Barney Colchy, William Grob, Harry Levine, J. Supervisory Committee: Barney Grob, Samuel Viner, Morris Yellowitz. BALANCE SHEET, OCTOBER Assets $55,670 88 S. Polansky, Jacob Strome. B. Mack, Louis Paster, Barney Snyder, Carl Stone. 31, 1925 38 P.D. Receipts and Disbursements during the Year ending October 31, 1925 8, Part IV. P.D. 8, 39 Part IV. MALDEN PROGRESSIVE WORKMEN'S CREDIT UNION 473 CROSS STREET Incorporated September 10, 1911. Began business September Jacob W. Mover, 10, 1911 Philip Isenman, Treasurer President Benjamin Miller, Clerk of Corporation Bander, Morris Block, Joseph Cardinal, Philip Isenman, Hyman Kabachnick, Thomas Klayman, Benjamin Miller, J. W. Mover, Abraham Ross. Meyer Gelpe, Robert Katz, Harry Lilly, Nathan Rodman, Louis Segal. Credit Committee: Supervisory Committee: Charles Gale, Abraham Grossman, G. F. Wenrich. Board of Directors: S. J. BALANCE SHEET, OCTOBER 31, 1925 40 P.D. 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 Receipts Disbursements Shares Deposits Investments Loans repaid Interest Entrance 95 $9,010 12,891 3,494 34,823 2,330 23 148 1,000 605 . . fees Fines Bills payable Cash, Oct. 31, 1924 12 00 26 23 30 00 00 95 Shares Deposits $1,732 4,990 3,624 48,515 . Investments Loans made Expense 703 618 315 . Interest paid Dividends paid Bills payable 1,000 Furniture and fixtures Other disbursements Cash, Oct. 31, 1925 62 87 19 00 60 47 34 62 00 93 00 61 2,703 18 . . $64,326 81 $64,326 81 Miscellaneous .... Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee, adults, 25 . . . . 95 20 308 . cents; children, Par value number held by one member Largest Number Rate fully paid $5.00 200 3,142 7% of dividend, Nov., 1924 10 cents. Total Expenses for Year Deposits Number of depositors . of interest paid during year Interest payable Jan. 1, April 1, July 1, Oct. 1. . . Rate . 224 Salaries 6% Rent $302.50 81.06 34.71 285.20 Advertising Other expenses $703.47 MARLBOROUGH — ST. MARY'S PARISH CREDIT UNION 478 Incorporated July LINCOLN STREET 9, 1913. Began business August 13, William H. Wellen, President 1913 Arthur Guilbert, Treasurer Arthur Guilbert, Clerk of Corporation Board of Directors: E. H. Des Rochers, Arthur Guilbert, J. J. Lemay, Joseph Parizeau, Arthur Rougeau, Elie Vigeant, W. H. Wellen. Credit Committee: J. B. Archambault, R. Supervisory Committee: H. Beaudreau, Euclyde Paquette. Romeo Bedard, Eugene Bissonnette, H. Rougeau. J. BALANCE SHEET, OCTOBER 31, 1925 Assets Loans Liabilities ..... ..... $54,002 99 Furniture and fixtures Due from banks and 1,250 98 trust companies: Checking accounts Cash 3,017 60 250 00 Shares Deposits $44,792 8,946 2,057 269 2,455 . Guaranty fund Undivided earnings Profit and loss . 75 46 15 50 71 $58,521 57 $58,521 57 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts Shares Deposits Loans repaid $22,914 22,176 40,830 4,547 111 37 . Interest 75 18 59 S4 56 00 4,171 98 . Fines Guaranty fund Cash, Oct. 31, 1924 Shares Deposits $12,615 00 18,072 68 56,643 43 . Loans made Expense 1,364 19 . 225 67 Interest paid 1,350 45 1,250 98 3,267 60 Dividends paid Furniture and fixtures Cash, Oct. 31, 1925 . $94,790 00 $94,790 00 Miscellaneous .... Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 148 46 479 . 25 cents Par value Largest number^held by one member Number Rate fully paid of dividend, Nov., 1924 Total Expenses for Year Deposits Number Rate of depositors of interest paid during year Interest payable Dec. . 1, Mar. . 1, 362 . . June 1, Sept. Salaries 4}^% Rent 1. Advertising Other expenses $5.00 400 8,958 5H% P.D. 8, Part IV. 41 NEW BEDFORD — SACRED HEART CREDIT UNION 349 Incorporated September SUMMER STREET 5, 1914. Began business October Joseph Chausse\ President 27, 1914 Fabiola Bosse\ Treasurer Louis Jean, Clerk of Corporation Board of Directors: Fabiola Bosse\ Joseph Chausse\ Louis Jean, Richard R6millard, Omer Credit Committee: J. B. Archambeault, D. Valois. H. Gauthier, William Nerbonne. Supervisory Committee: Alphonse Gauthier, Henri Gerin, Elphige Sansouci. BALANCE SHEET, OCTOBER 31, 1925 Assets $19,751 66,029 7,850 2,426 3,087 87 84 23 10 30 $99,145 34 $510 26 34,951 85 37,605 00 993 19 2,819 58 895 95 2 21 20 8,969 45 $86,747 69 P.D. 42 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts $15,694 31,136 13,837 92,350 5,092 Shares Deposits Investments Loans repaid Interest Entrance fees . . . Fines Other receipts Cash, Oct: 31, 1924 13 . . 339 683 .... 13,593 58 53 74 12 48 20 87 37 37 Shares Deposits Investments Loans made Expense 45 86 $22,987 30,737 12,000 89,002 2,434 693 2,520 196 12,169 . . Interest paid Dividends paid Furniture and fixtures Cash, Oct. 31, 1925 . $172,741 26 00 15 68 00 27 00 85 $172,741 26 Miscellaneous Membership Shares . . . 132 164 Par value . . 750 Number . 10 cents Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . . Largest Rate Number . . 1, Feb. . . . $5.00 343 8,017 . 7% of dividend, Nov., 1924 ...... Total Expenses for Year of depositors of interest paid during year Interest payable Nov. . . fully paid Deposits Rate . number held by one member 1, . . May 1, Aug. 324 Salaries 5% Advertising Other expenses 1. . . . . . . . . . $2,034.00 17.40 383.28 $2,434 68 . NEW BEDFORD — ST. ANNE CREDIT UNION 15^2 RODNEY FRENCH BOULEVARD Incorporated August 3, 1911. Began business September P. Board of Directors: Francois Bernard, Credit Committee: 5, 1911 Adelard Langlois, Treasurer Francois Bernard, President Damien Jarry, Clerk of Corporation Hugues Desautels, P. D. Jarry, Joseph Piche, Denis Richard. Napoleon Lapointe, W. J. Lernlin, Ludger J. E. T. Giguere, Adelard Langlois, Slight. Supervisory Committee: Alfred Bonneau, Euclide Choquette, Alexandre Robin. BALANCE SHEET, OCTOBER Assets $355,018 46 31, 1925 P.D. 8, Part IV. 43 REVERE — REVERE CREDIT UNION ORR SQUARE 10 Incorporated February 9, 1912. Began business February Samuel Ruby, President 15, 1912 Charles Gilfix, Treasurer Aaron A. Harris, Clerk of Corporation Board of Directors: Sol Finklestein, W. H. Gallagher, Charles Gilfix, L. B. Glixman, A. A. Harris, Phineas Levi, Samuel Ruby, Maurice Silbermann, W. D. Wheeler. Credit Committee: M. M. Aisner, S. Supervisory Committee: Albert De J. Aronson, Aron Weintroub. Groot, Erving Ente, M. H. Simon. BALANCE SHEET, OCTOBER Assets 31, 1925 44 P.D. Receipts and Disbursements during the Year ending October .... .... .... .... Receipts Shares Deposits Loans repaid Interest Entrance fees . Fines Furniture and fixtures Other receipts Cash, Oct. 31, 1924 . . 31, 1925 S, Part IV. P.D. 8, Part IV. 45 SALEM — JEWISH COMMUNITY 259 Y2 CREDIT UNION ESSEX STREET Incorporated June 25, 1921. Began business July 1921 18, Myer David Maron, President Moses Alpers, Clerk Board of Directors: Moses Alpers, Louis Jaynes, Myer Lacritz, David Maron, William Wise. Credit Committee : Sam Galper, S. J. Lacritz, Treasurer of Corporation I. Shapiro, Nathan Tarlow, Kerr, Joseph King. Supervisory Committee: Joseph Fierman, D. P. Israel, Max Lesses. BALANCE SHEET, OCTOBER 31, 1925 Assets Liabilities Loans Cash 00 471 05 ),811 Shares ),333 14 Guaranty fund Undivided earnings Profit and loss 279 52 99 37 570 02 . . $10,282 05 $10,282 05 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts Shares $6,202 65 22,772 00 1,170 25 14 75 9 00 730 82 Loans repaid Interest . Entrance fees Undivided earnings Cash, Oct. 31, 1924 . Shares 30 75 97 75 65 15 00 471 05 $1,847 27,926 451 5 181 Loans made Expense . Interest paid Dividends paid Other disbursements Cash, Oct. 31, 1925 $30,899 47 $30,899 47 Miscellaneous Membership .... Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . 102 26 206 25 cents Par value Largest Number Rate number held by one member fully paid of dividend, Nov., 1924 Total Expenses for Year Salaries Rent Other expenses $10.00 30 930 6% P.D. 46 Receipts and Disbursements during the Year ending October 31, 1925 Shares Deposits . Investments Loans repaid Interest Entrance . fees . Fines Other receipts Cash, Oct. 31, 1924 . 8, Part IV. P.D. 8, Part IV. 47 SPRINGFIELD — SPRINGFIELD, MASS., POST OFFICE EMPLOYEES' CREDIT UNION 300 MAIN STREET Incorporated April 27, 1923. Ellis Began business May Frank W. Vinnicombe, Clerk Board of Directors: W. Credit Committee: M. J. Carroll, J. 1, 1923 Frank W. Vinnicombe, Treasurer G. Knox, President Begley, Supervisory Committee : N. I. J. G. E. Hayes, W. B. Hare, H. C. J. of Corporation Hurley, E. G. Knox, F. Humason. Hebert, G. F. McNulty, J. P. Smith. BALANCE SHEET, OCTOBER Assets $17,573 96 31, 1925 W. Vinnicombe. . P.D. 48 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Reee pts $9,122 00 1,119 05 15,217 77 846 02 37 75 4,014 54 Shares Deposits Loans repaid . Interest . Fines Cash, Oct. 31, 1924 Shares Deposits $2,328 88 1,158 66 22,760 09 78 71 24 89 352 60 3,653 30 . Loans made Expense . Interest paid Dividends paid Cash, Oct. 31, 1925 $30,357 13 $30,357 13 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 31 22 144 . none Par value . $10.00 74 . 1,537 . Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 . . . 6% Total Expenses for Year Deposits Number 74 of depositors interest paid during year Interest payable Jan. ] July 1 Rate of Miscellaneous expenses .71 4J4% , SPRINGFIELD — WESTERN MASSACHUSETTS TELEPHONE WORKERS' CREDIT UNION WORTHINGTON STREET 283 Incorporated July 20, 1922. Maurice S. Blaisdell, Began business August 1, 1922 Edward President J. Tyer, Treasurer Theresa Lynch, Clerk of Corporation of Directors: J. H. Armstrong, M. S. Blaisdell, Eva Bryson, Linda Cameron, C. F. Finn, P. F. Follett, Edith Harkness, Eleanor F. Healey, E. S. Henderson, C. E. Howard, Board Helen A. O'Donnell, Clara E. Pepper, E. J. Tyer. McQuade, H. E. Oakes, R. L. Wing. Credit Committee: Catherine Supervisory Committee: L. B. Shepherd, E. T. Sheridan, C. S. Stebbins. BALANCE SHEET, OCTOBER 31, 1925 Donahoe, Julia L. Theresa G. Lynch, . P.D. 8, Part IV. 49 WALPOLE — NEPONSET CREDIT UNION WASHINGTON STREET Incorporated October 5, 1915. (EAST WALPOLE) Began business November A. C. Urquhart, President 1, 1915 A. W. Smith, Treasurer B. R. Taylor, Clerk of Corporation Board of Directors: H. E. Rouillard, C. D. Savage, A. W. Smith, J. J. White. Credit Committee: D. J. Cullinane, J. H. Smith, B. R. Taylor, A. C. Urquhart, H. H. Miller, G. E. Smith. Supervisory Committee: A. H. Anderson, B. D. Rogers, A. H. Russell. BALANCE SHEET, OCTOBER 31, 1925 Assets Liabilities Bonds owned Co-operative bank shares owned Loans Cash . $19,351 3,000 35,476 170 25 00 58 85 Shares Deposits . Guaranty fund Undivided earnings Profit and loss . Other liabilities 820,318 30,615 2,032 1,591 1,940 1,500 85 28 22 42 91 00 50 P.D. Receipts and Disbursements during the Year ending October $75 00 361 89 . Interest Part IV. Disbursements Receipts Shares Deposits Loans repaid Entrance 8, 1925 31, 2.S6S 18 355 92 . 1 65 2,423 69 fees Cash, Oct. 31, 1924 Shares Deposits $475 245 345 72 25 307 . Loans made Expense . Interest paid Dividends paid Cash, Oct. 31, 1925 00 70 00 85 56 40 4,614 82 $6,086 33 $6,086 33 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . 1 Par value 3 Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 54 10 cents ... Number of depositors of interest paid during year Interest payable Nov. 1, Feb. 1, 1, . $5.00 205 . . 1,156 5% ...... Total Expenses for Year 49 3% . May . . . Deposits Rate . Aug. Rent Other expenses . . . $52.00 20.85 . 1. $72 85 . WINTHROP — PEOPLE'S CREDIT UNION 157 SHIRLEY STREET Incorporated August 23, 19 IS. David Began business September 6, 1918 George Pinksohn, Treasurer Scott, President George Pinksohn, Clerk of Corporation Board of Directors: Joseph Adams, George Epstein, Nathan Ferar, J. D. Fogel, G. George Pinksohn, J. T. Reese, David Scott. Credit Committee: Charles Levy, J. Frank, Harry Rosenthal, Harry Wise. Supervisory Committee: Rebecca Freeman, Harry Ruskin, William Wolfe. BALANCE SHEET, OCTOBER 31, 1925 Assets Loans Liabilities $127,897 87 481 41 365 44 4,869 07 Furniture and fixtures Other assets Cash Shares Deposits . Guaranty fund Reserve fund Undivided earnings Profit and loss . . $133,613 79 Receipts and Disbursements during the Year ending October 31, 1925 Receipts Shares Deposits Loans repaid $40,984 27 . Interest Entrance . fees Fines Undivided earnings Other receipts . Cash, Oct. 31, 1924 Max Lippa, P.D. 8, Part IV. 51 WINTHROP — WINTHROP 192 CREDIT UNION WINTHROP STREET Incorporated July 19, 1915. Began business July 28, Elmer E. Dawson, President 1915 Charles H. Holbrook, Treasurer Charles H. Holbrook, Clerk of Corporation Board of Directors: C. S. Adams, O. R. Countaway, E. E. Dawson, L. E. Griffin, Maud S. Hallam, W. E. Hewitt, C. H. Holbrook, W. F. Johnson, H. E. Keough, T. J. Mahaney, H. M. McNeil, Kate S. Payne, A. Smith, E. P. Whittier. S. Credit Committee: P. B. Churchill, Nelson Floyd, R. A. Lang. Supervisory Committee: H. W. Aiken, K. C. Brown, S. F. Tucker. BALANCE SHEET, OCTOBER 31, 1925 Assets Liabilities ...... ...... Co-operative bank shares owned $1,000 00 4,799 75 Loans Due from banks and trust companies: Checking accounts Cash Shares Deposits $4,305 15 294 51 1,043 24 . Guaranty fund 104 08 145 57 Undivided earnings Profit and loss 86 58 319 92 . $6,049 40 $6,049 40 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts Shares Deposits Loans repaid $1,132 56 142 80 3,634 37 473 80 85 25 33 76 33 1,112 58 . Interest . Entrance fees Fines Other receipts Cash, Oct. 31, 1924 Shares Deposits $551 59 200 5,242 95 . Investments 66 15 00 63 62 12 50 201 10 Loans made Expense . Interest paid Dividends paid Other disbursements Cash, Oct. 31, 1925 3 14 249 65 $6,615 45 $6,615 45 Miscellaneous ..... Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee 18 13 71 25 cents . ... Par value Number of depositors interest paid during year Interest payable Nov. 1, Feb. 1, May 13 4 . 1, . ...... ..... .... Total Expenses for Year Deposits Rate of .... Largest number held by one member Number fully paid Rate of dividend, Nov., 1924 Aug. 1. %% Salaries Advertising Other expenses $5.00 100 851 6% : 52 P.D. 8, Part IV. Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts Shares Deposits Loans repaid Interest Shares Deposits 77 46 29 22 05 766 61 4,220 46 811,749 10,879 50,369 2,608 16 . . Entrance fees Fines Cash, Oct. 31, 192-1 $9,630 55 7,984 62 47,796 80 1,254 39 221 42 996 65 3,424 98 . Loans made Expense . Interest paid Dividends paid Bills payable Guaranty fund Other disbursements Cash, Oct. 31, 1925 11 307 35 8,992 99 $80,609 86 $80,609 86 Miscellaneous Membership Shares Number added during year Number withdrawn during year Number of members, Oct. 31, 1925 Amount of entrance fee . 158 Par value 54 674 Largest Number . 4,672 . Rate of dividend, Nov., 1924 10 cents ... fully paid ...... Total Expenses for Year Deposits Number of depositors 164 of interest paid during year Interest payable Jan. 31, April 30, July 31, Oct. 31. Rate $5.00 626 . number held by one member Salaries 5% . Other expenses . . . $954 00 300.39 . . $1,254.39 WORCESTER — GRATON & KNIGHT EMPLOYEES' CREDIT UNION 356 Incorporated January FRANKLIN STREET 5, 1925. Began business January Paul H. Wilson, President 16, 1925 Samuel Z. Cramer, Treasurer Clayton O. Martindale, Clerk of Corporation Board of Directors: F. E. Barth, S. Z. Cramer, J. A. Dahlin, F. J. Foley, F. W. Goodrich, Mark Howarth, J. G. Kapowich, C. O. Martindale, F. J. Powers, G. E. Richardson, H. A. Rousseau, William Scott, J. G. Skinner, F. H. Willard, P. H. Wilson. Credit Committee: C. A. Bartlett, D. P. Harrower, F. Supervisory Committee: P. D. Betterley, J. W. Kennedy, E. Kelly, F. S. S. L. T. Willard, C. O. BALANCE SHEET, OCTOBER 31, 1925 Assets ..... Loans Due from banks and trust companies Savings accounts Checking accounts Liabilities $7,495 50 1,424 69 . Zimmerman. Parker. 425 95 Shares Deposits $5,497 00 3,271 55 131 94 445 65 . Guaranty fund Profit and loss $9,346 14 $9,346 14 Receipts and Disbursements during the Year ending October Shares Deposits Investments Loans repaid $6,446 00 . Interest Entrance 31, 1925 Disbursements Receipts . fees Fines Other receipts $22,386 34 P.D. 8, Part IV. 53 WORCESTER — LA CAISSE POPULAIRE (CREDIT UNION) DE WORCESTER FRONT STREET 112 Incorporated August W. 10, 1911. Began business August 25, 1911 Exlore Metivier, Treasurer Levi Bousquet, President George E. Board of Directors: G. E. Belisle, E. A. Belisle, Clerk of Corporation W. L. Bousquet, Exlore Metivier, leau, Israel Tetreault. Brodeur, Credit Committee: Dolord Ham.el, Frederick Mercier, E. P. Soly. Supervisory Committee: L. A. Dubois, H. H. Caron, C. E. Gosselin. BALANCE SHEET, OCTOBER Assets ..... ...... .... ...... Bonds owned Loans Due from banks and Savings accounts Checking accounts Cash trust companies: 31, 1925 N. A. Prevost, H. O. Roche- 54 P.D. Receipts and Disbursements during the Year ending October 31, 1925 Receipts 8, Part IV. P.D. 8, 55 Part IV. WORCESTER — SKANDIA CREDIT UNION 387 MAIN STREET Incorporated October 30, 1915. Began business January George N. Jeppson, President 1, 1916 Nils Bjork, Treasurer Carl B. Benson, Clerk of Corporation Board of Directors: C. B. Benson, A. M. Berg, Nils Bjork, William Forsberg, G. N. Jeppson, John Johnson, S. G. Johnson, J. E. Linne, C. E. Matson, J. G. Perman, E. T. Rolander, P. J. Styffe, Rudolf SundiD, A. G. Swanson, Martin Swanson. Credit Committee: C. A. Nelson, J. T. Truelson, William Supervisory Committee: J. I. Forsberg, F. J. Werme. Quist, O. S. Svenson. BALANCE SHEET, OCTOBER 31, 1925 Assets .f(if)S,041 50 318,015 50,943 5,000 2,649 38,377 10,854 35 93 00 11 04 85 1,000 00 Part 56 Receipts and Disbursements during the Year ending October 8, 31, 1925 P.D. IV. P.D. 8, Part IV. 57 WORCESTER INDEPENDENT WORKMEN'S CIRCLE WORCESTER CREDIT UNION 102 Incorporated November WATER STREET 17, 1922. Began business November M. D. Goldenberg, Board of Directors: 1922 Clerk of Corporation Samuel Allentuch, M. H. Chase, Philip Cooper, Benjamin Goloboff, Louis Levey, Philip Rose, Joseph Shapiro, Credit Committee: 18, Benjamin Goloboff, Treasurer Joseph Shapiro, President Abraham Silver, Isaac Silverman. Samuel Koritz, Joseph Leventhal, Louis Plotkin, Harry Snegg. Supervisory Committee: M. D. Goldenberg, Charles Myers, Bernard Shapiro. BALANCE SHEET, OCTOBER Assets 31, 1925 P.D. 58 Receipts and Disbursements during the Year ending October 31, 1925 Disbursements Receipts Shares Deposits Loans repaid . Interest Entrance . fees Fines Cash, Oct. 31, 1924 $164 00 3,885 71 4,008 02 169 63 8 75 9 37 722 00 ,967 48 8, Part IV. P.D. 8, Part IV. 59 GENERAL INDEX Credit Credit Credit Credit Unions, Unions, Unions, Unions, Abstracts of Annual Reports Alphabetically by Name General Remarks and Recommendations Tables of Statistics . . . 1-58 59 . Index to the Annual Reports [Alphabetically by Name] CREDIT UNIONS Name Location Augustov Credit Union Beacon Hill Credit Union Beverly Credit Union Beverly Investment Credit Union Blake-Knowles Credit Union Blue Hill Neighborhood Credit Union Boston Post Office Employees' Credit Union Boston & Maine R. R. Employees' Credit Union Brockton Credit Union Brockton Postal Employees' Credit Union Central Credit Union Central Massachusetts Telephone Workers' Credit Union Cigar Factory Employees' Credit Union City of Boston Employees' Credit Union Crescent Credit Union Crossett Credit Union D. M. C. Credit Union East Boston Credit Union Filene Co-operative Association Credit Union Fitchburg Credit Union Gilco Credit Union Graton & Knight Credit Union Greater Boston Public School Employees' Credit Union Hamilton Credit Union Hampden Credit Union Holyoke Credit Union Hygrade Credit Union Independent Order Sons of Italy Credit Union Industrial Credit Union Jeanne d'Arc Credit Union Jewish Community Credit Union Labor Circle Credit Union La Caisse Populaire de Lawrence Credit Union . . .... .... .... .... ... .... ..... .... .... .... .... .... .... . . . ' . . La Caisse Populaire (Credit Union) of Worcester Lawrence Credit Union Library Bureau Credit Union Lord Beaconsfield Credit Union Lowell Bleachery Credit Union Mansfield Credit Union Massachusetts Carpenters' Credit Union Metrogra Credit Union Metropolitan Credit Union M. S. Wright Company Credit Union Mt. Bowdoin Credit Union Mutual Investment Credit Union Neponset Credit Union New England Credit Union Northern Massachusetts Telephone Workers' Credit Union Notre Dame de Lourdes Credit Union People's Credit Union Polish National Credit Union Progressive Credit Union Progressive Workmen's Credit Union of Maiden Prospect Credit Union Revere Credit Union Rockland Credit Lnion Sacred Heart Credit Union Saletn Credit Union Shawmut Credit Union Shepard Stores Employees' Credit Union Skandia Credit Union. Social Service Credit Union South End Credit Union Southern Massachusetts Telephone Workers' Credit Union Springfield, Mass., Post Office Employees' Credit Union St. Anne Credit Union St. Jean Baptiste Parish Credit Union . . . . .... .... ...... .... Boston Boston Beverly Beverly Cambridge Boston Boston Boston Brockton Brockton Cambridge Worcester . Boston Boston Brockton Abington Framingham Boston Boston Fitchburg Boston Worcester Boston . . Southbridge Boston Holyoke Salem Boston Boston Lowell Salem Lynn Lawrence . Worcester . Lawrence Cambridge Boston Lowell Mansfield Boston Boston Boston Worcester Boston . . . Maiden East Walpole Worcester Lowell Lowell . Winthrop . Chicopee Worcester . Maiden Cambridge Revere Rockland . New Bedford Salem Boston Boston Worcester Boston Boston New Bedford , Springfield New Lynn . Bedford 60 P.D. .... Name Joseph's Credit Union of Waltham Mary's Parish Credit Union State Employees' Credit Union * Telephone Workers' Credit Union . Traders' Credit Union Union Workers' Credit Union United Electric Light Employees' Credit Union Walworth Credit Union Warren Credit Union West End Credit Union Western Massachusetts Telephone Workers' Credit Union Whitson Credit Union Winnisimmet Credit Union Winthrop Credit Union Worcester Central Labor Credit Union Worcester Credit Union Worcester Independent Workmen's Circle Credit Union Workers' Credit Union Zion Credit Union St. St. ..... ...... ..... ...... ...... ..... ...... ...... ...... ......". . . . . . . . . . Location Waltham Springfield Part IV. Page . Marlborough Boston Boston Boston Boston Boston Boston Boston 8, 49 40 19 19 20 21 47 21 Chelsea 22 23 48 23 29 Winthrop 51 Worcester Worcester Worcester Fitchburg Worcester 55 Springfield Boston 56 57 31 58
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