Granite State Credit Union
Encyclopedia
Granite State Credit Union (GSCU) is a state
-charter
ed credit union
based in Manchester, New Hampshire
, with branches throughout the state.
GSCU is a member of the New Hampshire Credit Union League (NHCUL) and Credit Union National Association
(CUNA).
The credit union was renamed in 1972. At that time, the charter
was expanded so that anyone who lived in New Hampshire could be a member.
. Grace had been previously employed as a city bus
driver. His strong leadership, based on the trust of the community he served, led to solid support for the credit union. His wife, Elizabeth ("Betty") Grace (1913- 2005) was instrumental in making Utility Worker's Credit Union a success. She served as the organization's only other employee in the role of "Bookkeeper," up to the time of Mr. Grace's unfortunate final illness that caused him to resign his post of Manager/Treasurer, a leadership position he enjoyed from 1945-1973.
A special exhibit at the America's Credit Union Museum
on Notre Dame Avenue in Manchester, New Hampshire included a display panel dedicated to John Grace's life, some personal artifacts, and a copy of a memoir of his life, Profile of the Life and Times of John Edward Grace (1911-1974): Credit Union Founder/Organizer, written by Patricia Lynne Grace Cummings (his daughter) in 2006 and published by her company, Quilter's Muse Publications, Concord, New Hampshire. The information about his life and credit union work is currently available as an e-book on CD from Quilter's Muse Publications.
In late 2003 or early 2004, the Acorn Credit Union merged with Granite State Credit Union.
The credit union lends to businesses through Octant Business Services LLC, a credit union service organization in Marlborough, Massachusetts.
U.S. state
A U.S. state is any one of the 50 federated states of the United States of America that share sovereignty with the federal government. Because of this shared sovereignty, an American is a citizen both of the federal entity and of his or her state of domicile. Four states use the official title of...
-charter
Charter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified...
ed credit union
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
based in Manchester, New Hampshire
Manchester, New Hampshire
Manchester is the largest city in the U.S. state of New Hampshire, the tenth largest city in New England, and the largest city in northern New England, an area comprising the states of Maine, New Hampshire, and Vermont. It is in Hillsborough County along the banks of the Merrimack River, which...
, with branches throughout the state.
GSCU is a member of the New Hampshire Credit Union League (NHCUL) and Credit Union National Association
Credit Union National Association
The Credit Union National Association, commonly known as CUNA , is a national trade association for both state- and federally-chartered credit unions located in the United States. CUNA provides member credit unions with trade association services, such as lobbying, professional development, and...
(CUNA).
Membership
Originally chartered as Utility Workers Credit Union, the credit union initially served public service company employees and those of the Manchester Transit Authority.The credit union was renamed in 1972. At that time, the charter
Charter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified...
was expanded so that anyone who lived in New Hampshire could be a member.
Origins
The organization was founded by John Edward Grace (1911- 1974) of Manchester in 1945, with a deposit of fifteen dollarsUnited States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
. Grace had been previously employed as a city bus
Bus
A bus is a road vehicle designed to carry passengers. Buses can have a capacity as high as 300 passengers. The most common type of bus is the single-decker bus, with larger loads carried by double-decker buses and articulated buses, and smaller loads carried by midibuses and minibuses; coaches are...
driver. His strong leadership, based on the trust of the community he served, led to solid support for the credit union. His wife, Elizabeth ("Betty") Grace (1913- 2005) was instrumental in making Utility Worker's Credit Union a success. She served as the organization's only other employee in the role of "Bookkeeper," up to the time of Mr. Grace's unfortunate final illness that caused him to resign his post of Manager/Treasurer, a leadership position he enjoyed from 1945-1973.
A special exhibit at the America's Credit Union Museum
America's Credit Union Museum
America's Credit Union Museum is located in Manchester, New Hampshire, on the site of the first credit union founded in the United States. The museum, at 418-420 Notre Dame Avenue, is housed at the original location for St. Mary’s Cooperative Credit Association, renamed in 1925 to La Caisse...
on Notre Dame Avenue in Manchester, New Hampshire included a display panel dedicated to John Grace's life, some personal artifacts, and a copy of a memoir of his life, Profile of the Life and Times of John Edward Grace (1911-1974): Credit Union Founder/Organizer, written by Patricia Lynne Grace Cummings (his daughter) in 2006 and published by her company, Quilter's Muse Publications, Concord, New Hampshire. The information about his life and credit union work is currently available as an e-book on CD from Quilter's Muse Publications.
In late 2003 or early 2004, the Acorn Credit Union merged with Granite State Credit Union.
The credit union lends to businesses through Octant Business Services LLC, a credit union service organization in Marlborough, Massachusetts.