It all started with a bug

I clearly remember when I became aware of the existence of credit unions.  I was seven years old and lived with my family in a modest home under the flight path of Orange County airport (now John Wayne airport) in sunny Southern California.  My father was a high school history teacher who worked summers as a skipper on Disneyland’s Jungle Boat Cruise and my mother was a photographer and stay-at-home mom.  We were members of Orange County Teachers Federal Credit Union (now SchoolsFirst FCU).  I recall my parents anxiously awaiting a response from their credit union loan officer.  Earlier that week they applied for a used car loan to purchase a second family car.  My father, mother, and I were standing in the kitchen, staring at our phone, and hoping for good news.  This was huge; a second car in the family would change everything!

We had been getting by with just one car, a 1964 Dodge Dart with a turquoise matte finish.  Naturally this meant that my mom had to do the grocery shopping at night or on weekends; my dad had to hitch a ride to work with friends if we had doctors’ appointments; and if I was ever sick at school, I had to walk home.   No need to pull out the violins, getting by on one car didn’t keep my parents from living their unique brand of the SoCal 60s lifestyle to the fullest, but it was certainly inconvenient at times.

Despite my tender age, mom enlisted me in her lobbying efforts.  She told me that if she had her own car she’d be able to drive my friend and me to the beach over the summer.  That’s all it took, I was in!  Poor dad was deluged with propaganda touting the benefits of a second family car.  I drew pictures for him depicting a happy family in their second car, told him how much I wanted to spend the summer at the beach, and ended with that monster mix length “PLEEEEEEASE” that only little girls can pull off.  Dad soon came around and promised to stop by the credit union and speak with a loan officer.  There was never any thought of contacting another financial institution or financing through a dealer. The credit union treated teachers fairly, they knew who we were, and they greeted us by name.   Not only did they give teachers the best rates on car loans, they actually approved their loans.  OCTFCU was our first choice and our only hope!

Back in the kitchen the clock ticked, the anticipation mounted, and finally the phone rang.  It was great news, we were approved!  I remember jumping and cheering.   My parents soon purchased a used 1961 Volkswagen Bug.  It was white, and even though it was not a fast car, it was decked out with black racing stripes.  My dad drove the VW to work leaving my mom the Dodge Dart during the day.  My mom, true to her word, drove us to the beach several times each week during the summer.  Life was good.

We had the Volkswagen for about eight months when my family left the house early one morning.  My dad dropped my three year old brother off with the neighbor next door and gave him our Super 8mm Camera.  He told the neighbor that we’d be back in about two hours and asked him to try to film us as we drove up to the house.   We returned right on cue and our neighbor was successful in obtaining the requested footage.  My dad got out of the driver’s seat, I exited from the passenger seat and our neighbor/filmmaker zoomed in on the backseat where my mom was holding my newly adopted three month old baby sister.   It was May 1969, I was eight years old and I had a brother and a new baby sister.  Our family was complete.  The used Volkswagen Bug became a permanent and treasured part of our family history.   I witnessed firsthand how credit unions support their members, believe in families, and improve lives.

Afterword:

• The Volkswagen Bug was sold to in 1972 in order to finance my father’s sabbatical which took our family on a fourteen month journey through Europe, Asia, and North Africa.  We began our trip in Westphalia, Germany where we purchased a new pop-top Volkswagen camper directly from the factory.   Both parents sent in absentee ballots for George McGovern.

• Orange County Teachers Federal Credit Union financed our new 1972 pop-up Volkswagen camper.

• Forty five years later, my sister lives in the Bay area with her husband and two sons, ages five and nine.   She’s a criminal defense attorney and a senior associate in a local law firm.  She’s also my best friend; I couldn’t imagine my family, or my life without her.

• I am privileged to serve as President / CEO of JetStream Federal Credit Union in Miami Lakes, Florida. I actively advance credit union issues and volunteer on several related boards and committees.

• Since 1969 credit unions have expanded their products and services beyond anything that could have been imagined or comprehended, yet their primary mission remains the same.  They are still committed to identifying and serving the needs of their membership.  They strive to improve their members’ overall financial knowledge, options, and condition.  They serve as their members’ trusted financial advisors and provide them with superior products and services.  A used car loan is one of those products.