Senate Concurrent Resolution 501

A CONCURRENT RESOLUTION COMMENDING AND CONGRATULATING FIRST DELTA FEDERAL CREDIT UNION ON ITS 25TH ANNIVERSARY OF SERVICE AS THE LARGEST MINORITY FINANCIAL INSTITUTION IN THE MISSISSIPPI DELTA.

WHEREAS, this year marks the 25th year of progressive service for First Delta Federal Credit Union, the largest minority financial institution in the Mississippi Delta; and

WHEREAS, it was Reverend Carl Brown's idea to start a credit union since he had been a part of one in Los Angeles, California, and gave witness to the many benefits of having a credit union in the Mississippi Delta and particularly in Quitman County. The organizers did the things necessary to make it happen. They began to work on the credit union concept in late 1979 and 1980, meeting with the Federation of Southern Cooperatives in Epes, Alabama; Southern Cooperative Development Fund in Lafayette, Louisiana; the Mississippi Association of Cooperatives in Jackson, Mississippi; and the Mississippi Association of Credit Unions in Jackson, Mississippi, as a resource to help in the extensive planning and preparing the necessary documents to submit the charter application to Region 3, National Credit Union Administration (NCUA) in Atlanta, Georgia. The decision was made to apply to become a federally chartered credit union; and

WHEREAS, on August 13, 1981, after all the work and planning by a local organizing committee that consisted of Madison S. Palmer, Cleophus Lee, James Barron, Robert L. Jackson, Daisy Q. White, and others, the vision became a reality. The organizers accepted the charter from the National Credit Union Administration, which was reluctant because they couldn't see a credit union thriving in such a poor and asset-challenged community as Quitman County. Reverend Carl Brown almost single-handedly convinced the officials visiting Marks, Mississippi, that it would work and work successfully if given the chance; and

WHEREAS, Quitman County Federal Credit Union opened its doors of the credit union on September 10, 1981, in the rear of Valley Queen M.B. Church, ministered by Reverend Carl Brown; and

WHEREAS, in 2000, the institution changed its name to Quitman Tri-County Federal Credit Union, and in July 2004, the expanded institution changed its name to First Delta Federal Credit Union; and

WHEREAS, twenty-five years, three name changes and three additional counties later, this progressive institution is the largest grassroots minority financial institution in the Mississippi Delta. They celebrate having over 5,450 members, five branch locations and $7,000,000.00 in total assets. They have made over 13,500 loans totaling over $25,000,000.00 over the past 24 years; and

WHEREAS, we share the blessings of this institution which has become a model corporate citizen in its community and state:

NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF MISSISSIPPI, THE HOUSE OF REPRESENTATIVES CONCURRING THEREIN, That we do hereby commend and congratulate First Delta Federal Credit Union on its 25th Anniversary of service as the largest minority financial institution in the Mississippi Delta, and extend the best wishes of the Legislature to its Board of Directors and employees on this auspicious occasion.

BE IT FURTHER RESOLVED, That this resolution be presented to the President of First Delta Federal Credit Union at anniversary ceremonies and be made available to the Capitol Press Corps.