In accordance with the initiative taken by the cooperative bank "Slavianskaya Vzaimnost" (The Slavic Mutual) in Prague, Czechoslovakia, we the undersigned, met on March 16, 1930 in the city of Chicago and resolved to establish the Russian-American Cooperative Bank of Chicago. Upon us and the Russian Organizations in Chicago falls the honor of being the first to promote the idea of nation-wide cooperation among the Russians in America. But we also know that at the same time the work of establishing Russian People's Cooperative Banks in New York, Detroit, Seattle, San Francisco and other cities of the United States where Russian colonies exist, has begun.

Our aim is to unite the scattered Russian forces. We desire that the Russian savings will go towards improving our own living conditions. We are in need of our own cooperative stores, so that we could obtain products of good quality cheaper. We are in need of our own cooperative restaurants and dining rooms, so that we could have good meals at cheaper prices. We 2are in need of our own homestead cooperatives, so that anyone of us could have his own home or apartment in the cooperative. Our merchants, our small business men should have their own bank, which will finance them in their business. At the same time, we have to support our own culture, race, etc. Consequently, we are also in need of our own People's University, theatre, sporting clubs, and other activities. All of these can be organized and achieved only then, when we, in a body, arise and organize first of all, our own People's Cooperative Bank. In the future, should all our hard earned pennies be spent on relief to the needy, it would be impossible to finance the work of some other kinds of cooperatives, and to establish widely and properly the work of cultural enlightment. Last but not least, we are in need of our own bank, because in it our savings will be secure. Only our own bank, founded by us, with the Board of Directors and controlling committee elected by us; only our own bank, checked by the general committee of all its participants, could be a secure and trusted institution for saving in it our hard earned money. The People's Cooperative Bank will not gamble on the 3stock exchange, and will not finance any speculation. It will work for and be in financial contact with tens of thousands of small enterprises; and therefore it would not take any risks, and deprive its own clients and depositors of their savings.

The work of our bank will progress only if built up on a strictly cooperative foundation. We must absolutely forget all politics, misunderstandings, discussions, and differences. Any laborer, merchant, or small business man is a welcome co-worker, provided he values independence, and believes that our bank can be established only with our own efforts, not in any other way.

He who will try to bring political, national or any other quarrels into our ranks is an enemy of the cooperative, hence our enemy. The members of any organization or party are our welcome co-workers, if they are willing to leave all their quarrels on the threshold of our People's Bank, and enter with a clear mind in order to join us in our cooperative work.

We set the capital of our bank at $ 300,000 ($200,000 as the principal, and $100,000 as reserve). The price of shares is set at $15 ($10 as principal and $5 as reserve). This is the smallest amount permitted by the laws of the State of Illinois. Our aim is that every Russian, and every friend of the Russians, should become a shareholder in our bank and have an interest in it.

We value equally the co-worker who holds one or ten shares. Our problem is to unite as many people as possible, so that the whole colony may participate in our concern.

We believe that the capital needed can be raised quickly, and we trust that everyone will consider it his duty to subscribe for shares. We are sure that everyone who hears about the People's Bank will become its publicity agent. We know that our strength lies in ourselves, in our organization, and in our solidarity. We trust that every organization will decide to urge their members to join the People's Bank.

Good Luck.

The founders: P. Alekseev, V. Antsiferov, (cooperator), Augustinovich,(engineer), V. Beker, (cooperator), A. Bartushevich, (engineer) V. Bernard, G. Volos, D. Vorobey, G. Golskiy, N. Gribov, P. Grigaytis, (the editor of the Lithuanian newspaper), Tisman, (attorney), M. Gayduk, E. Goroschenia, I. Denisov, B. Ioffe, I. Erin, Dr. A. Krasnov, V. Kunashevsky, E. Karpin, N. Kozak, V. Kishun, (engineer), I Lavetor, N. Levata, F. Mansvetov, (chairman of the Board of the Savings Bank in Prague), P. Maretsky, D. Michalchik, J. Michaylovskaya, S. Michaylovsky,Dr. Nedzelnitsky, E. Neyshul, V. Oleyshuk, Dr. L. Pertzov, Attorney A. Pikiel, G. Petrunik, A. Pristupa, A. Paciuk, V. Pustovoytov, (engineer), O. Sleznikov, D. Sleznikow, V. Sabinsky, M. Syman, D. Svenchansky (engineer), A. Fedukevich, P. Chudovich, K. Shulakov.

For detailed information apply to the temporary address: 2732 Warren Blvd., Chicago, Ill., Secretary V. Kishun; Phone Seeley 4731.