Many referred to the thirties as the “Lean Years”. It was during this grim period that employees of the Consolidated Water and Power Company organized the Bull’s Eye Credit Union. The credit union was began with the thought of helping one another, to save money and get loans. The “Bull’s Eye”, a log rafter’s landmark on the Wisconsin River, also symbolized a premium grade trademark for Consolidated’s “Bull’s Eye Bond”.
The first Board of Directors were elected on October 7, 1932 in the main meeting room of Consolidated’s Main Office. They declared a 3% dividend on savings and 12% annual interest on loans. Credit Union hours were 3:00 p.m. – 4:45 p.m. daily. The operating philosophy was “to help the workers in their financial affairs”.
As we reflect on the past, one thing is certain, Bull’s Eye Credit Union’s heritage is a rich one. The attitudes and characteristics of those who sowed the seeds for growth, shaped the development of our philosophies, and nurtured the advancement of our cause, giving us reason to be proud. They saw the credit union as a self-help organization with members helping members.
Today, your Board of Directors continues to uphold the self-help philosophy, and as we accept the responsibility of the present, we pledge to see that the credit union continues to strive to meet the financial needs of its members.