ICUL Service Corporation

Illinois Credit Union Hall of Fame

John "Jay" McCaughey 
Inducted 4/97

Jay McCaughey is president of the Warren Newport Credit Union. Jay and his family have strongly supported the credit union movement for over forty years.

Jay has dedicated his life to his family, friends, community and nation. He served in World War II. Afterward he was appointed postmaster of Gurnee in 1947. In 1970 he transferred to the Zion post office.

During those years, Jay became active in the Warren Township Credit Union where he was elected treasurer in 1956. In fact, the whole family was active! The credit union was housed in the family basement. Statements were stuffed at the family dining room table.

Jay had a sign on his desk that read The Buck Starts Here. The mayor of Gurnee got his first car loan from Jay. Members likened the feeling of the credit union to the building and loan in the movie It’s a Wonderful Life. It is no surprise that the credit union motto became The Family Place. It is reminiscent of Jay’s children accepting loan payments while playing baseball! Jay embraced the credit union philosophy of people helping people.

In 1974 Jay played a key role in the merger of the Warren Township and Newport Township Credit Unions. Under his influence, the credit union has grown to $75 million in assets.

Jay has always kept up with technology and new services to make Warren Newport a leader in the financial community. His involvement at the chapter and league levels has impacted credit unions statewide. Jay’s innovative ideas in human resources, strategic planning and employee services have led to the development of programs in those areas.

McCaughey has served the Credit Union Movement in varied leadership positions. Jay is a member of CUES. He is an active CUPAC and ICU Foundation contributor.

It is not unusual for a state senator to contact Jay to ask his opinion about pending credit union state legislation. On the national front, Jay joined the 1991 grassroots rally. He also attends Governmental Affairs Conferences in Washington.

Jay is well known in the Thomas W. Doig Chapter. He has held the positions of chapter president and treasurer. At this time, he is the chapter board league director.

Since his election to the ICUL board of directors in 1992, he has been active on many committees. He was a member of the executive committee for four years, the ad hoc supervisory committee for three years and the legislative committee for one year. Jay served as chair of the annual convention last year.

Jay is a strong proponent for small credit unions. His actions demonstrate his true passion. When North Shore Gas Credit Union had every employee sick with the flu, he sent his employees to help. Jay has always been at the forefront of this issue.

McCaughey received the Book of Golden Deeds Award from the Exchange Club in 1992. This special award honors individuals that have given selfless service to the community in the spirit of the Golden Rule. The Gurnee Days Corporation honored him further with his appointment as the Grand Marshal of the Gurnee Days Parade.

Jay serves his community well. He was a member of the Gurnee Lions Club, the Gurnee American Legion, the Gurnee Grade School PTA and the Gurnee Couples Club. He was a founding member of the Gurnee Breakfast Exchange Club. Jay served as a member of the Village of Gurnee Plan Commission.

Jay inspired the credit union to actively participate in the Toys for Tots Campaign and the C.O.O.L. food pantry drives. He encourages sponsorship of community youth programs and promotes the Young Credit Union Professionals Group.

Today we honor Jay McCaughey—leader, activist and humanitarian. We are proud to announce Jay’s entry into the Illinois Credit Union Hall of Fame.

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