A History of Elmsdale , West, and Brockton , The regular monthly meeting of the associated study clubs of Elmsdale and surrounding school dis¬ tricts was held in Basil MacNeill 's warehouse on May 2,1940. The meeting was chiefly a gathering for the purpose of organizing a credit union. Dr. J.T. Croteau , organizer of credit unions and Mr. Hickey , inspector of credit unions, and Mr. Chandler of the Prince Edward Island Libraries were present. These three speakers emphasized the qualities of a credit union and the duties of served officers and committees. After a short discussion those present decided to organize a nominating committee composed of James Currie , James Johnston , James O' Brien , Charles Rix , and Reagh Currie , who were appointed to select members of the different committees... Mr. Patterson congratulated the members in their efforts to establish a credit union and also made a vote of thanks to the visiting speakers which was seconded and tendered to the gentlemen who acknowledged the vote of thanks in fitting replies. The Elmsdale Credit Union came into existence according to printed records in 1940 under the Credit Union Societies Act. A certificate of incorporation #46 bear¬ ing the date of May 6,1940 was granted to the Elmsdale Credit Union Limited with the head office located at Elmsdale , Prince Edward Island . It was dated at Charlottetown on the 6th day of May 1940 by O.W. Campbell , Acting Registrar. B&L&NC3 SHSST Sap-tonbox- 3D, 1943 ASSETS I»I&BILXriUS X.oaa« ...„.........$ 80.00 Sfa^ras »:«***.-:» Wk.M'wm S&ucsLttcn Fund ••.••• Guarourrty Fund • ... „ * . mtmmmmmmmm^__m tJudividadl burning* • • • • $> 8 Q.QG PROFIT AND lOil SmXEH&HT Fey yaeu- onding Saptomfeex- 3D, 1943 JJTteraart raeolvod •.......•••.... Sxponsos . • . • .♦••..»...»..^ Nii Ha* ?rcr&t ...•.*.- m * * w m m^m .* * 19*3, • 1942 Mtmit&cr of aaaberm Wsk mad ot pori.od « • • • • 27 27 Hucibor of borrowort a* and ot pajriod • • . . Z 2 Be*%« oiT* dividend ••*•••«•* • • . . • MIX Nil $ 67.9G .07 5-78 6.25 $ SO.GO Nil Nil 32 3 Nil Courtesy of Credit Union Central, and Rena Matthews Coll . Elmsdale Credit Union Balance Sheet as of September 1943 461