On October 22, 1956 seven concerned farmers applied for a credit union charter. The men were Simon Gentzler, William Arbruthnot, O.W. Pennington, Frank Wilson, W.W. Harmon, Fred Crane, and Glenn Drosselmeyer. They called the new chartered credit union the Springfield COOP Credit Union.

The purpose of this credit union was to make agricultural loans to farmers. The following member were elected to the Board of Directors, J.A. Critz, Ed Rosengrants, Oscar Nidey, O.I. Dishman and Vance Novinger. Oscar Nidey died before his term expired and Fred Crane was chosen to fill his place. Supervisory Committee were; Sam Gordon, R.P. Wallace and R.L. Hancock. The first credit union offices were in the Springfield COOP elevator offices with the employees of the elevator taking care of the credit union daily business. At this time the credit union had shares of $6,500.00 and loans of $3,700.00.

In 1963 Charles D. Smith came from Pritchett and became the permanent manager. The office was moved to one room in the back of the COOP Service Station on the corner of 13th and Main. Membership was 270. Assets at this time were $95,000.00, including shares of over $61,000.00, and outstanding loans of $94,000.00.

Membership interest continued to grow and the first ten years showed membership at 449 with assets of $273,000; loans $261,000, and shares over $231,000. 1971 membership was 551; asset $492,000; loans $463,000; shares $440,000. In January 1973 Jim Edmission was hired as assistant manger, with Charles D. Smith as manger. The credit union office was expanded into two offices with a private entrance, still located at the COOP Service station.

In the spring of 1974 Mr. Smith died and Jim Edmission became manager. In February of 1974 the Peoples Credit Union began issuing Certificate of Deposit, which were comparable to the interest paid by banks and saving and loans in this area. In April 1976, property at the corner of 13th and Main was purchased by the Board of Directors, and the membership was anxiously awaiting their new building. In October 1976 the credit union was moved to the new 40 X 80 brick building and with the vote of the Board of Directors the name was changed to Peoples Credit Union. At this time members were 995; assets were $2,061,000; loans $1,774,000; shares $1,131,000. In 1982 the membership had grown to 1557 with assets $3,792,000; loans $3,259,000; shares $1,950,000.

In July of 1983 Burrell Mason was hired as manager. There were many changes in the services of the credit union during the 80’s and 90’s. In January 1986 IRA’s with a high dividend were made available to members. And then in 1990 share draft checking accounts were opened. In October 1994 the drive-thru was in full use. Finally, in December 1994, the expansion to the building was completed. In July of 1996 John Paul Unruh was hired as manager.

In December 1996 the field of membership was changed to the community of Baca County. In 1997 Peoples Credit Union had finally emerged as a full service financial institution with current membership at 2852; loans $17,559,131; assets $19,552,636. The Board of Directors in 1997 were Lyndell Bryan, Curtis Schroder, Mike Hinds, Brent Morris, and Arlene Esch. The Supervisory Committee was Curtis Arbuthnot, Wayne Orebaugh, and Wray Rose. The Credit Committee was Bill Moore, Joyce Powell, and Doug Hutches.

In the late 1990’s & during 2000 Peoples Credit Union first brought you tellertalk and also began to offer Debit Cards. In the first part of 2000 we added a new sign which has made a pleasant change in the scenery around the credit union. During the planning session in August of 2000 plans were put together to have a website along with internet banking in place by the 2nd quarter of 2001. We enjoyed a wonderful year with current membership at 2919; loans $17,617,624; and assets $20,716,309. The current Board of Directors are Lyndell Bryan, Curtis Schroder, Mike Hinds, Dennis Jordan, and Linda Lusk. The current Supervisory Committee are Bill Hall, Bob Gourley, and Jack Walker. The current Credit Committee are Otis Bonner, Steve Chenoweth, and Vic Hancock. John Paul Unruh, Manager