ICUL Service Corporation

Illinois Credit Union Hall of Fame

Charles "Ray" Cannon 
Inducted 4/96

Ray Cannon possessed the credit union spirit. He took an application for a credit union charter just one day after a doctor told him he was incurably ill!

As a volunteer in the late 1930’s, Cannon organized several Chicago surface line credit unions. Cannon was a director of the Metropolitan "L" Credit Union for 15 years and served as treasurer from 1941 to 1952. Subsequently, he joined the league as a field representative in 1952.

Cannon worked primarily on the south side of Chicago among minority groups and soon gained a citywide reputation as a person who truly believed in the ideals of a credit union. He was an effective organizer who loved the challenge of selling groups on the credit union concept. During the last five years of his life, he was responsible for bringing on board 150 credit unions.

Generally, these credit unions were small and community based, not company-sponsored. Many required a labor of love to stay viable. Cannon gave tirelessly of his time and talents, earning a reputation as an ethical individual who was respected by all who knew him.

He is a past-president of the West Suburban Chapter that changed its name to the Charles R. Cannon Chapter. Cannon lived in Oak Park and died at Chicago Presbyterian Hospital at the age of 55. We honor his memory and his efforts today in the Illinois Credit Union Hall of Fame.

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