Illinois Credit Union Hall of Fame
Frank Citro, Sr.
Frank Citro, Sr. spent more than 40 years practicing the credit union philosophy of "People Helping People". He contributed 25 cents to Chicago Federal Credit Union in May 1960 to become its first member and treasurer. He even granted the credit union’s first loan of $100.
C F Federal Credit Union was originally chartered to serve the employees of Consolidated Freightways trucking company and loans were handwritten or completed on a typewriter. The credit union’s first financial statement indicated assets of $32.25.
As Consolidated Freightways grew so too did the credit union. Frank Citro, a truck driver himself, volunteered evenings after work to run the credit union. He also recruited his wife to assist with hand posting each account. Upon retiring after 31 years of driving, Frank Citro knew he wanted to do work for the credit union.
Four decades later Frank Citro is still treasurer of the credit union. He has retired from running the daily operations of the credit union, but remains an integral part of setting the strategic direction for the credit union. He is currently involved in overseeing the construction of a new 3,000 square foot facility to provide easier access for members. Today the credit union has more than 2,500 members and $7.2 million in assets and offers a wide array of financial services. The credit union has also changed its name to Condolidated Financial Federal Credit Union.
Pioneers like Frank are one of the reasons the credit union movement has remained unique in the highly competitive world of financial services. Frank is a highly motivated and dedicated individual who saw a need for a credit union and did something about it. Forty years later, he is still doing something about it. Frank’s love for the credit union movement and his desire to help his fellow man make him an excellent choice for induction into the Hall of Fame.