Czech Building and Loan Associations of Chicago (Summary)
Denní Hlasatel, Aug. 13, 1917
The quarterly meeting of the United Czech Building and Loan Association of Chicago was held here yesterday afternoon. Mr. J. L. Novák presided.
After the routine business had been taken care of, the chairman reported the results of a survey of the membership and the financial status of the League [American national organization] in various states. From this report it was learned that the State of Pennsylvania takes first place with 625,000 members in 1,950 branches, and with $297,000,000 in liquid assets. The State of Illinois takes fifth place with 649 branches, 230,667 old members augmented by 15,517 new ones, and assets of $105,478,403, which amount was increased by $7,087,735 through the influx of the new members.
The chairman also gave an idea of the growth of the League, the organization 2of all the building and loan associations of the United States; his figures were based on approximate data gathered at a recent meeting, in Boston, Massachusetts, of the representatives of the branches from all over the United States, at which meeting he represented the United Czech Building and Loan Associations of Chicago. On January 1, 1917, the league contained 7,034 branches with 3,568,343 individual members, and had $1,696,707,041 in liquid assets. The average amount paid in by the individual member was $476.49, as against $445 the previous year.
A committee reported on the request made to the United States Government for exemption from taxes, and described the difficulties that were being met, pointing out that, at the present time, when money is needed for the prosecution of the war, and the Government is compelled to impose taxes upon every imaginable commodity and enterprise, such difficulties are to be expected.
The patriotic activities of the various branches of the League are being 3noticed in Washington, and are commented on very favorably. "Our work is gradually being appreciated in circles that did not know us at all before." These were the words with which Mr. Novák closed his oral report. The written report contains, besides much other detailed and interesting information, a few telling facts about the Chicago Czech branch of the League and its activities: ".....I wish to show briefly to what degree our building and loan associations helped all their members secure homes. We have now in Chicago one hundred and twenty-five Czech building and loan societies with about 35,000 members and more than $20,000,000 in their treasuries; these figures have grown considerably since the last report. We are continually receiving applications for loans, so that only a small amount of money remains inactive. The Czech building and loan associations lend money without causing the borrowers any particular difficulties, and the members know that money quickly and easily obtained can be more efficiently utilized and at less cost; this is the secret of our success. Wherever Czechs settle in Chicago, that part of the city begins to improve visibly; small houses spring up rapidly in large numbers, and 4big, elegant apartment houses fitted out with the most modern conveniences are built as well. Most of them are surrounded by gardens, trees, bushes, and flowerbeds; the neighborhood is kept clean, in a health-promoting condition; this enhances the beauty and boosts the value of the property--the entire district gains in appearance. Those acquainted with the Czech communities of Chicago will readily support this statement.
"The Czech building and loan societies were united into one body for the purpose of giving secretaries and other officials of organizations an opportunity to train themselves in the conduct of their particular business. The Chicago branch meets every three months to discuss events, affairs, and conditions. The Chicago branch makes recommendations to the State League concerning matters which may be of interest to branches in other cities. The statutes demand that every branch which belongs to the League (which embraces the entire United States) must also belong to the proper State League. The minutes of the Chicago branch meetings are printed, and sent to every individual society. In this way better contact is established, the advantage of which was particularly 5evident when the drive for the American Red Cross began. Our Czech branches collected a considerable amount of money for the Red Cross, and bought Liberty bonds to the value of almost one million dollars; they also helped efficiently in the enlistment of our young men for service in the United States Army and Navy. From this it can be seen that our societies teach our people not only thrift, but the fulfilling of their obligations as citizens as well.
"When I speak of the Czech building and loan societies and of the Czech people at the same time, I do not want to imply that the members of the societies are of Czech descent exclusively; they are, in fact, cosmopolitan, for in everyone of these branches there are some members of other than Czech descent. In closing, I want to declare that the Czech branch of the State League fully recognizes and appreciates the work done by the latter."
The delegates to the meeting were satisfied with the gratifying news that the delegates to the national convention of the League, in Boston, gave much 6credit to the Czech branches.
Vice-chairman Mr. J. A. Čalek proposed to give material aid to the committee in charge of the arrangements for the "Czechoslovak Thanksgiving", which is to be celebrated soon. It was resolved to send a certain amount of money to the committee, which is to deliver it into the hands of Professor Thomas G. Masaryk. The delegates hope that the amount will reach the figure of $100; they want to do their bit for the liberation of the old homeland.....
Mr. Tom Vonásek, delegate for the Radnice Building and Loan Association, inquired what was to be done about an individual member who had paid up a certain amount, but had enlisted for service in the Army. He was informed that the rule required the refunding, to the member, of the amount already paid.
The meeting was closed with an opulent lunch, which was given to the delegates by Mr. F. J. Petru.
7Denní Hlasatel and Spravedlnost, two Chicago Czech newspapers, were thanked for the publicity they have been giving the Czech building and loan associations.
