How the Times Have Changed

1930's radio

The Federal Credit Union Act was signed into law by President Franklin Delano Roosevelt in 1934. This allowed for a national system of nonprofit cooperative credit unions to begin to form. Connex Credit Union was founded in 1940, but many were chartered in 1935. A lot has changed since 1935, especially the price of goods!

Prices in 1935

  • The average price of a new house was $3,450
  • The average house rent was $22 per month
  • The average new car price was $625
  • Average annual wages were $1,600
  • A gallon of gas cost 10 cents
  • A loaf of bread cost 8 cents
  • A pound of hamburger meat cost 11 cents

What else happened in 1935?

  • Elvis Presley is born
  • Babe Ruth plays his last Major League game
  • Bob Hope 1st heard on network radio as part of “The Intimate Revue”
  • Monopoly board game goes on sale for 1st time
  • U.S. Congress accepts FDR’s “New Deal”

Times sure have changed since 1935 and the credit union movement is as strong as ever! Here at Connex, we’ve gone from paper ledgers to having Online Banking, Mobile Banking, Mobile Check Deposit, and Personal Teller Machines (PTMs). It sure will be interesting to see what the next 78 years will bring!

Sources:

http://www.thepeoplehistory.com/1935.html

http://www.brainyhistory.com/years/1935.html

http://worldhistoryproject.org/1935/page/2

Advertisements

Improving the lives of our members... one member at a time.

Tagged with: , , ,
Posted in Financial Education

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s