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ANCO Community Credit Union

Finance / Credit Unions

154 3rd St,
LaSalle, IL 61301

(815) 223-8410

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About

Anco Community Credit Union was incorporated as a state chartered credit union by the state of Illinois on February 1, 1955. The Credit Union was established for all of the employees of American Nickeloid Co. located in Peru, Illinois. The Credit Union was and is sponsored by American Nickeloid Co. The Charter Contained 18 Members. Robert Hilderbrandt was elected the first manager and he served without pay for the first year. He was given a $15.00 a month stipend after the first year. At the close of the first year 67 members were on the rolls of the credit union. The records indicated $7,595 in loans were granted and the shares balance totaled $9,706 at the end of the year. Profit was $277.00. Bob Hilderbrandt continued as President/Manager until May of 1971, when ill health forced his resignation. Gerald Waszkowiak board member and credit committee chairman was appointed to succeed Bob. Interest was calculated and paid once a year during these first years. A 25 cent entrance fee was charged to each new member. This was suppose to offset the cost of forms. This practice was eliminated in 1974. In 1971 surplus and reserves totaled $10,799 and total assets were $193,899. ​ In 1981 assets exceeded $500,000 and a “Automated” Book keeping system was purchased and installed using a “Porto Verter.” This was a key punching system transmitting information by phone to a computer in Texas. Reports were then mailed back. This system made it possible to pay dividends quarterly and certificates of deposit were offered. During this period Patricia Waszkowiak an employee since 1972 was appointed office manager. Gerald Waszkowiak continued as president/manager/treasurer until 1998 maininting the credit union office, which was located in his home in LaSalle. During this period real estate loans, IRA’s, and credit cards were added. American Nickeloid Employees from the Walnutport, PA plant were added as members. Assets were in excess of $10,000,000. In 1998 a new manager was hired and the office was moved to 841 first street in LaSalle. Share drafts and employees of the City of LaSalle were added to our membership base in 2000. The office was moved to 400 First Street LaSalle. In 2010 Nancy Camenisch was hired as President/Manager.