Kemba Credit Union Revenue and Competitors

Looking back to 1933, The Kroger Company was interested in offering credit union services to its employees and sent Louise McCarren as representative to an organizational meeting of the Credit Union National Association in Estes Park, Colorado. Ms. McCarren (now the late Louise Herring) was very enthusiastic about credit unions and was instrumental in starting the Kemba General Office Credit Union. In February 1934, seven employees of the State Avenue Kroger Manufacturing Plant met in the cafeteria and organized the Kemba Cincinnati Credit Union, Inc. to serve employees of the factory and packinghouse. The name Kemba derived from the Kroger Employees Mutual Benefit Association,which extended various benefits to employees. By the end of 1939, assets of the credit union had grown to $110,000. In its early history, the credit