Wisconsin Latvian Credit Union was incorporated in August of 1961. Its by-laws were drafted and approved by the Commissioner of Banks and a closed charter was granted to the cooperative.
WLCU founder and first CEO Janis Platais had an unwavering conviction that the CU model was the perfect fit for the Latvian community. It had the flexibility to embrace diverse individuals in its field of membership. Its mantra: “not for profit, not for charity, but for service” covered the requirements needed for growth.
In 15 years the CU reached the $1 million balance, in its 37th year $2 million and by its 56th – a $2.7 million balance. Its financial success has been due to member loyalty and careful stewardship. Not only does WLCU offer its members competitive savings and loan rates, but each year it also supports educational, athletic and cultural enterprises of the Latvian communities in Wisconsin and the Midwest.