Show r HOW V S 'S BABY BANKS BAKS HAVE HAYE AIDED MEY ME OF S SMALL CAPITAL When Americans with next nett to no capital can In ten tea years sears and In I fifteen states stales build operate and completely control over O of ot these credit mIi unions or baby banks with combined l lS S assets asset of more moie titan than I most of which Is safely and benefic ben beneficially loaned loane out amon among themselves them them- S s selves In amounts of from S S to 2000 what's the answer Mrs Gertrude Ma Mathews Shelby Shel Shel- lJ by has hus put the question in her fascinating account of The Time Human Hu ilu- man Side of Cre Credit lt Unions in inthe inthe inthe the Century Magazine Mrs 1 Shelby has made an Intensive e stu study y of operative co-operative banking and answerIng her own question she sa says s The United States needs heeds low low- cost small loans service Such SuchS S cre credit It was as formerly S only Sonly at usurious interest Ordinarily Or- Or Or-J Or J banks find this type of S business ss s both troublesome and unprofitable These operative co cre credit It a oc sQ doing much or all of their o own work without pay and using the cheapest cheapest- quarters marters mar mar- I so lower o overhead ad that the they frequently show u a a surplus when hen ordina ordinary banks per performing similar service would Voul show a loss They answer a wl widespread H legitimate demand deman without Interfering Interfering Interfering In In- with ordinary bunks banks In hi fact usually benefiting th them m. m One credit union on record S did ld a business wit with It its depository bank In a 3 year rear yearA earA ear A CIA host of humble thrifty perSons persons persons per per- sons have hu found that by pooling their tiny savings they come into Into- substantial capital Directly controlling Its employment ment they get the time first use of It Use not dividends is the main aim lest this should he be lost sight of dividends divi den s are usually limited Yet whatever profit there is they themselves es receive severally or together to the time last penny From the command of this group capItal capital cap cap- ital they obtain In marked degree degree de do- gree that sense of conscious power that appears In men amen of or substantial private capital It often makes new men of or credit credit- union members In the heart of ot supposedly inhuman grubbily financial NewYork New NewYork NewYork York Is one of the largest of ot the credit Institutions of ot the country Its present assets are with members Yet It began five years ago with 60 60 and 11 members |