1971-1980

In 1972 SUAFCU expanded its office, reached yet another financial milestone as assets surpassed $10 million. In 1977 Selfreliance installed a custom designed, state of the art transaction processing and recordkeeping package from the Ukrainian-owned firm of Triad Software. The program allowed the credit union to perform real time operations, and afforded a high level of flexibility and secure control over our members financial information.

April 19, 1977, Congress increased the deposit guarantee on member shares to $100,000. New services were introduced, including Individual Retirement Accounts and Keogh accounts, share draft (checking) accounts and authorized direct deposit of Social Security and other federal benefit payments.

August 21, 1977, Selfreliance treated its members to a picnic, held at the Round Lake Resort owned by the Self-Reliance Ukrainian-American Cooperative Association. The Cooperative "Fun Day" became an annual celebration, attracting more members every year, rain or shine.

Selfreliance initiated a program of children's savings accounts for grammar school students attending St. Nicholas School to encourage savings by its young members. Children have the opportunity to watch their savings grow, and young savers receive rewards for their participation.

The United States economy and financial markets entered a difficult period towards the end of this decade. The prime rate, the rate at which the US Treasury lends funds, rose to 21%. Economic instability and inflation sapped the country's strength. Despite these difficulties, SUAFCU continued to attract new member deposits and borrowers. SUAFCU was serving 7,648 members by the end of this decade.

Bohdan Watral was elected to the Board of Directors in 1980. The Board of Directors elected him the Treasurer/Manager of the Credit Union.

In 1980 Selfreliance adopted a new logo. After obtaining permission from the Credit Union National Association (CUNA), it modified the general "helping hands" symbol, adding a "tryzub", the emblem of Ukraine. The name was also changed to Selfreliance Ukrainian Federal Credit Union, to reflect the importance of its position within the Ukrainian community. Selfreliance is proud of its ongoing cooperation with its base Ukrainian community.