At Hometown Credit Union our members are worth more than money

Our Purpose
Hometown Credit Union is a financial cooperative which is owned and operated for its members. We seek to promote thrift and economic development of our trade area. We strive to provide the best possible financial services to meet member's needs. Hometown Credit Union seeks to grow while maintaining its long-term financial stability.

Our Values
• Committed to balancing member needs with financial soundness
• Reliable in being available, offering competitive products, and resolving issues
• Respectful of members' time and needs, and each others
• Responsive to members and each other
• Quality oriented in service and products, and in our work with each other

Hometown History…
We trace our roots to Kulm, ND where we were incorporated as Kulm Credit Union in 1949 to help people (mostly farmers) get credit so they could improve their farms and their lives. At first we operated out of a single room in the Farmers Union Oil building. For many years the small but financially sound "small town" credit union helped its members achieve their financial goals. While Credit Unions in surrounding towns came and went, and merged with "big city" Credit Unions, Kulm Credit Union remained committed to its local membership

In 1987 a group of people from the Ashley area approached the Kulm Credit Union Board of Directors to see if they would consider buying the Ashley Branch of Metropolitan Federal Savings and Loan, which was being closed. The acquisition was approved by the member/owners, and on June 6, 1988 our name was officially changed to Hometown Credit Union. While our membership base expanded, our hometown commitment remained strong.

In the early 1990s the residents of Emmons county found themselves in difficult economic times. 1995 the Board of Directors of the Hazelton Credit Union - the only remaining Credit Union in Emmons County - approached the Hometown Credit Union board about merging the two financial institutions. On May 1, 1995 Hometown Credit Union took over all of their assets and liabilities, and our Hazelton branch office was established.

Hometown Facts…
• Number of Members: 2,683 (Dec. 31, 2007)
• Asset Size:$35.77 Million (Dec. 31, 2007)
• Loans made since founding in 1949: $213,683,529 (Dec. 31, 2007)
• Loan Breakdown: Consumer 30%, Ag 50%, Real Estate - 20%
• Assets December 31, 1974 were $1,173,945
• Assets reached $10 million in 1995
• Assets reached $25 million in 2005

Board of Directors, Officers & Staff

Keith Giesler, Board Chairman
Hadley Seeklander, Vice-Chair
Darvin Fischer, Board Secretary
Don Laeger, Director
Ken Wolf, Director
Tony Buerkley, CEO
Betty Gunderson, VP Operations
Steve Anderson, Head Loan Officer
Patty Flegal, Hazelton Branch Manager
Lisa Neu, Ashley Office Manager

The Credit Union Difference …
A credit Union is a cooperative financial institution that is owned and controlled by its members - very much like your Rural Electric and Telephone cooperative. Credit unions serve groups of people that share something in common. Hometown Credit Union members have where we live in common – our membership is only open to those living within an area consisting of a 75-mile radius of Kulm and 50 mile radius of Hazelton, ND.

Credit unions are non-profit, and provide a safe, convenient place for members to save money and get loans at reasonable rates. The credit union idea is a simple: People pool their money and make loans to each other. Banks, Savings & Loans and Credit Unions all accept deposits and make loans. But Banks and savings & loans are owned by stockholders whose interests include earning a healthy return on their investments - they are in business to make a profit.

Like other financial institutions, Credit unions are closely regulated and operate in a very prudent manner. The National Credit Union Administration, an agency of the federal government, insures deposits to at least $100,000.

The guiding principles of Credit Unions are:

1. Only credit union members can borrow
2. Loans are made for "prudent and productive" purposes
3. A member's desire to repay (character) is considered more important than their ability (income) to repay since they are borrowing their own money and that of their friends.

In 1934 Congress passed a federal credit union act, which permitted credit unions to be organized anywhere in the United States. In 1935, when credit unions were helping Americans through the Great Depression, the treasurer of a Midwestern credit union said that credit unions were "not for profit, not for charity, but for service," and that philosophy holds true today.

You can learn more are about Credit Unions in North Dakota at the North Dakota Credit Union League web site. Click here to learn more