Black Lagoon Employees Credit Union
Founded in 1954 by a small group of marine biologists, the credit union is a tragic example of the danger of not having a diversified membership. Shortly after founding Black Lagoon, most of its original membership disappeared during an expedition in the Amazon to search for evidence of the half fish, half man creature known as Gill-man. Unfortunately The Reckless Science Company was the credit union’s only SEG and made up almost its entire membership. According to Callahan & Associates Peer-to-Peer analytics the credit union experienced negative 90% membership growth between 1954 and 1955. Even with its rapid member loss, people in the know believe the credit union still exists. The NCUA does not confirm or deny the possibility of a Black Lagoon Employees Credit Union.
Writer’s note: In the interest of full disclosure it should be noted, the writer of this piece grew up near the filming location of Creature From The Black Lagoon, a fictional movie based on the true experience of Black Lagoon Employees Credit Union.
Transylvania Community Credit Union
Not every credit union adopts the feel-good values of the cooperative movement. The obvious example is the story of Transylvania Community and Peoples First Credit Union of England. Transylvania Community had achieved an unprecedented 70% market share of those who live, work, and worship in its region of the Carpathian Mountains on the border of Transylvania, Bukovina, and Moldavia. The market was tapped. In 1893, looking for new blood, Transylvania Community CEO Count Dracula purchased a failing credit union in the United Kingdom and prepared to expand his operation to England. Not so fast. Abraham Van Helsing, CEO of Peoples First Credit Union of England, began an aggressive lobbying campaign with the Victorian Credit Union Administration to revoke Transylvania’s new field of membership. After a lot of paper work and legalese mumbo jumbo, Van Helsing sent Dracula packing back to the mountains of Transylvania. When asked about the storied rivalry between the two credit unions, Van Helsing told me, I think you’re seriously misunderstanding what happened.
Elm Street High School Credit Union
Elm Street is one of the first examples of a successful student-run financial cooperative. A group of high school students, stressed at the idea of moving out of their parent’s homes and paying for college, formed the credit union in 1984 to help meet their financial needs. Although founding member Tina Gray had been accepted to some of Ohio’s top colleges, she was having terrifying stress dreams about paying her tuition and living expenses. After asking around school, Gray found her friends were troubled with similar dreams. The students pooled their resources to charter Elm Street High School Credit Union. The credit union’s flagship product is the Dream Loan, a low rate private student loan. Now, with the group’s financial futures secure, it’s sweet dreaming from here on out.
Oh, and Happy Halloween!