The concept of service has been the center pillar for the ESA
Credit Union since it was initially chartered in June, 1940.
According to the first members of the Credit Union, the treasurer
would meet buses, trains, or planes to help statewide members
conduct business with the fledging new employee organization.
Ralph Boal was the first Treasurer/Manager of the Credit Union
and is credited with it's organization and establishment. Originally,
the Credit Union served the Employment Security Agency and Department
of Labor employees and family members. The Charter is for the
UCES (Unemployment Compensation Employment Security) department
but this has changed several times through the years to the present
Idaho Department of Labor. And the Credit Union has expanded
to include individuals (and family members) who are employed
by all State agencies, who are government employees at the Ada
County Courthouse, who are employees of the downtown Winco, and
who are downtown Boise Association members. But the 'ESA' identity
is in the initial charter and remains as the credit union name.
Mary Moore Graham provided this information and has been a stalwart
dedicated member of the ESA Credit Union from it's conception.
Mary was one of the ten original charter members in 1940 and
served 21 years as the Manager/Treasurer. She continued to serve
on boards and committees and a debt of gratitude is owed to this
Through the years, the Credit Union has continued because of
the support and dedication of many volunteers. Originally, and
continuing through today, the volunteer work has to be completed
during the noon hours and after work. The organization has grown
to include competent staff to operate the business. This includes
the current manager, three full-time employees and one part-time
Mary Graham stated that the only year the ESA Credit Union lost
money was the first year of incorporation. At that time, expenses
included a $40.00 charter fee and vouchers and receipt books
to maintain records. The total loss the first year was $56.32.
In 2003, the Credit Union and it's assets are in the $7.5 million
The initial business of the ESA Credit Union was operated under
federal guidelines (Regulation W). Any money loaned had to be
for an 'absolute necessity'. Mary states that in the early audits
a loan for a stove was questioned as an absolute necessity. The
interest on loans started at 1% per month and during World War
II years, the dividends were paid at 2%. After about ten years,
a bookkeeper was hired for $5.00 per month. Soon the business
became too large and demanding and staff was gradually hired
to maintain the professional requirements of the job-but still
retain the service priority.
The ESA Credit Union has been a great asset and a lot of fun.
Because members contribute time and expertise to build the business,
the fiscal institution continues to grow and support the dreams
of all the members.