a tree of history — Oak Bank Credit Union

In 1946, Oak Bank Credit Union started its incredible journey. As the RM of Springfield was starting to grow, the need for a centralized banking location became apparent. As the concept of the cooperative movement was sweeping through Canada in the 1940s, a credit union seemed like the right choice for the community. In early 1946, a representative of the Civic Employees Credit Union in Winnipeg was invited to speak about the principles of credit unions and the potential benefits of forming one in the community.

On January 21, 1946, after a majority vote, ten courageous and forward-thinking individuals came together to apply for the charter, so that they could begin to offer financial services to the RM of Springfield and communities in the surrounding areas. The founding members of Oak Bank Credit Union were: John Speer, Herbert Grapentine, Edward Krombein, Wyllis Wyatt, James Beattie, Wilfred Grapentine, Leonard Edmonds, John Palidwor, Arthur Harvey, and Raymond Sellen.

In the midst of a typical Manitoba winter, complete with unfavorable weather and road conditions, these charter members gathered for their first meeting on February 27, 1946 at Grapentine’s Garage in Oakbank. It was here that the founding members laid the groundwork for the future of Oak Bank Credit Union. They each paid a 25-cent membership fee and purchased a $5 share.

For over 70 years, OBCU supported its members and communities, first in Oakbank, then in East St. Paul, and finally with its location in Dugald. It grew from 10 members and just $2,536 in assets to over 9,000 members and over $220 million in assets. Through its growth, OBCU supported hundreds of groups around the RM of Springfield and East St. Paul through donations and volunteer support. Although the Oak Bank Credit Union name has changed, it will forever remain a true part of the community.

Commitment to the community

Oak Bank Credit Union always put its members and communities first. The credit union was a true community partner, supporting events like the Zora Cup, the Andrew Dunn Walk, and Chicken Daze, and major community projects like Dugald Estates and Jodi Park.

Together in 2018, Sunova and OBCU invested over $35,000 in the RM of Springfield and East St. Paul. It is our hope to continue OBCU’s legacy of supporting the community for years to come.

2018 support