Bay Shore Credit Union a Cooperative, not-for-profit financial institution, Established in 1953
"Not For Profit...Not for Charity...But for Service"
"People Helping People"...The Credit Union Difference
What is a Credit Union?
A credit union is a cooperative, not-for-profit financial organization owned entirely by its members and operated for the benefit of all who belong. Our goal is to help people help each other by promoting thrift through a convenient systematic savings plan and by providing a quick, economical source of confidential credit.
All financial profits from loans and investments are returned to members in the form of dividends (interest) after expenses and legal reserves are set aside. The credit union doesn’t profit…its’ members do.
Because credit union members are also credit union owners, each $5.00 on deposit represents one share of ownership. A minimum of one share ($5.00) must remain on deposit in your share account to maintain membership. As long as the minimum balance requirement is met, you remain a member for life, even if your change jobs or move away. As a member, you elect the Board of Directors and may volunteer to serve as a director or committee member. In short, as a member, you help run your credit union.
What is OUR Credit Union?
Employees of the Ansul Chemical Company organized this Credit Union in 1953 and the first set-up meeting was held at the Elks Club in Marinette with 38 people in attendance. The business of the Credit Union was conducted in the lunch room of the company on an as needed basis, and by the end of 1954 membership totaled 373 members with assets of $54,000.
Our Credit Union continued to do business on the Ansul Company property in a small office in the factory until 1974 when we moved to a house at 1006 Church Street in Marinette. Members at that time numbered 1356 and assets were $1,400,000.00
Continuing to grow, the Credit Union had outgrown its’ space on Church Street. With 2400 members and assets of $5,500,000.00 our Credit Union moved to its’ current location at 1514 Cleveland Avenue in October 1989.
Our Credit Union expanded from the closed industrial-chartered credit union established in 1953 to an open community-charted Credit Union serving anyone living or working in Marinette and Oconto Wisconsin Counties and Menominee Michigan County. The Credit Union’s original name, Ansul Employees Credit Union was changed to Ansul Area Credit Union to better reflect the members we served and finally to Bay Shore Credit Union in August 1992.
Although the Credit Union has grown over the years, we remain dedicated to our original purpose and philosophy…to provide a place where members may save and get a better than average return on their savings and to provide a source of low cost loans for our members.
A Credit Union of People Helping People