A History of Elmsdale, Elmsdale West, and Brockton, Prince Edward Island

initial shareholders: Parmenas Brennan, Charles Rix, George Murray, John Arthur, Leigh O’Brien, Everett Matthews, Frank McKenna, Raymond Rix, James Arthur, Rev. W.A. Patterson, Linus McNeill, James Johnston, Wentworth Yeo, Basil MacNeill, Merrill Dunn, David Matthews, Walter Brennan, Fred Forsythe, Kenneth Matthews, James O’Brien, Douglas Brennan, John McLellan, Waldron Rix, Charles Dunn, Fraser Rix, Roland Burke and Frank Yeo.

After three years and four months, on September 23, 1943, the Elmsdale Credit Union Limited sent a letter to the Lieutenant-Governor—in-Council for the Province of Prince Edward Island asking permission to surrender their charter.

A public notice announcing the cancellation of the Elmsdale Credit Union Limited was dated at Charlottetown, PEI on the 15th day of November AD 1945 and signed by C.J. Stewart, Registrar. It was then published in the Royal Gazette and the Agri- culturisz‘ newspapers making the Elmsdale Credit Union non-existent.

ST. MARK’S CREDIT UNION

During the winter of 1937—1938 Associated Study Clubs held a series of meetings in St. Mark’s Hall, Lot 7, culminating in a debate on February 7, 1938, as the Agricul- turist February 17, 1938 reported: “The associated study clubs held a very interest- ing debate in St. Mark’s Hall on the evening of February 9; the subject “Resolved that Credit'Union is a Benefit to the Community”. The leader on the Pro side was Mr. Harold Doyle and on the Con side, Mr. David Griffin. The Pro side won with a

large majority.”

Reverend Michael Francis, pastor of St. Mark’s Lot 7 and St. Bernadette’s in Brockton saw a need for a better banking system for the people under his charge. The main reason being that the bankers refused to loan money to Brockton residents at reason— able interest rates. Father Francis encouraged his parishioners to give the Credit Union a chance. Hence on May 9, 1938 a Certificate of Incorporation was issued under the provisions of the Credit Union Societies Act and it was named St. Mark’s Credit Union Limited. To qualify for membership a deposit of 25 cents per meeting

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