Business View Magazine | December 2020

156 BUSINESS VIEW MAGAZINE DECEMBER 2020 H elping people has been a theme since Great Lakes Credit Union (GLCU) was founded in 1938 by the union president of the National Federation of Federal Employees. The focus was to provide a financial institution for civil servants that were employed at the Great Lakes Naval Base in North Chicago. At that time, there was not a financial institution in the North Chicago community and those civil servants were paid in cash. On payday, the Great Lakes Credit Union treasurer would actually stand at a desk at the end of the disbursing officer’s pay line to collect deposits, give member receipts, and accept loan repayments. The cash was placed in a tin box and deposited at another financial institution. Steven Bugg, GLCU President and CEO, recounts, “The credit union was founded at that time to put members first, and to really allow those that were unbanked GREAT LAKES credit union Serving and educating diverse members AT A GLANCE GREAT LAKES CREDIT UNION WHAT: One of the largest credit unions in Illinois WHERE: Head office in Bannockburn, IL WEBSITE: www.glcu.org