1930s Fun

The 1930s were a unique time in American history. This post-Roaring ’20s economic depression era brought a new way of life that shaped the rest of the century for many Americans. Slang from the Great Depression almost all concerns poverty, alcohol, and criminal activity of some kind. This isn’t entirely surprising, as many people in poverty turned to either alcohol or crime to escape their dire straits.

In the 1930’s:

• October 1929 (black Tuesday) the stock market crashed, creating the worst economic crisis in American history. By 1933, 25% of the workforce was unemployed, or over 12 million people
• Adolf Hitler and the Nazi Party attempt to establish a New Order invading Poland and starts World War II in 1939.
• The Cost of:
  • New car- $500
  • New house in early 1930’s -$7.145, late 1930’s $3,800
  • Dozen eggs- .18 cents
  • A loaf of white bread- .08 cents
  • 10lb bag of sugar- .49 cents
• Empire State Building is built and is the tallest building in the world the USA and the Hindenburg explodes over a small town in New Jersey.
• Minimum wage is federally dictated at $0.25 an hour in 1938.

In the Credit Union Industry:

• In 1934, Congress passed a federal credit union act, which permitted credit unions to be organized anywhere in the United States.
• November 20, 1934, the “Omaha Telephone Employees’ Federal Credit Union” (today Centris Federal Credit Union) was organized.
• As of April 15, 1935, it was recorded that “the “Omaha Telephone Employees’ Credit Union” has a potential membership of approximately 1,300 members. We hoped to have assets of approximately $10,000 by January 1, 1936.  Losses in bad loans in credit unions are very low, averaging about .1%.”
• Per the Informational Bulletin No. 2 dated May 10, 1935 (Board Meeting Meetings) of the “Omaha Telephone Employees’ Federal Credit Union”, it reads,

“WHAT YOUR CREDIT UNION CAN DO FOR YOU … A member borrowed $30.00 from the Credit Union for a period of three months at a cost of $.0.60. This member told the Treasurer of the Credit Union that he could have borrowed the money from another institution but the total cost would have been $7.00.  This man’s Credit Union saved him $6.40.  Your Credit Union can save you money in case you need a loan.”