Farmers Cooperative Association
The first elevator was built on its present location in 1920. It was the first concrete elevator built in the area and it was owned by a group of farmers of the community. Poor crops and hard times caused the business to be unsuccessful, and after a struggling existence, a group of 40 interested men met in the town hall of Larchwood to try to organize a cooperative.
The organization was formed on July 8, 1938. William Dubbelde acted as temporary chairman and Russel Wyant was acting secretary. The area was canvassed to sell memberships for $10 a share (the
Farmers Mutual Elevator Company
same amount of the cost of a share in present times). The name selected for the organization was "The Farmer's Cooperative". A membership meeting was called to elect officers and J.H. Roemen was elected the first president; Max Middlen vice-president; Max Middlen, vice-president; William Bruggeman, secretary-treasurer. Gerard Kerkvliet and Walter Jensen also made up the first board of directors.
H.L. Osgood was hired to manage the elevator. The new organization had its share of problems but continued to grow. Mr. Osgood resigned in 1948, and Mr. M.M. Lande was hired to replace him. In 1954, Warren Crandell was hired to manage the elevator.
During this time the corn storage program by the government kept the business going. A feed plant was built in 1956. In November 1958, Gerard Scholten was hired and is the present manager.
Business has increased steadily in recent years and the
Farmers Co-op Elevator
Cooperative continues to grow. A fertilizer plant has been built and most recently the Farmer's Union Oil Company of Edna was purchased.
The Farmer's Cooperative Asssociation is the largest business in Larchwood and pays out $60,000 annual wages to local people. Present board members are Robert Lewis, August Blauwet Jr., Donald Horn, Ed Hansen, Chuck Hocke, Elmer Metzger and Ron Hohman.
Security Savings Bank
The Security Savings bank was chartered on April 22, 1920, as the Granite Savings bank and located at Granite, Iowa. The first president was O.E. Holly and L.L. Penning, cashier.
The first Bank of Larchwood and Broker's
Office (now the library building)
The original board members were: Oscar Holly, C.T. Swanson, T.G. Bennett, William Grotewold, Lars C. Jensen, Nels Martin and Ed Swanson.
In May, 1931, C.T. Swanson was elected president and R.W. Wyant, cashier.
During the fall of 1934 the bank and the building were moved to Larchwood, and at that time the name was changed to the Security Savings bank.
R.W. Wyant was elected president in February, 1954, and served until February, 1960.
Security Savings Bank
Harold Bonander has served as president since 1960 to date.
Present officers and board members are as follows: Axel R. Bonander, Chairman of the board; Harold R. Bonander, President; Emil I. Bjork, Vice-President; Russel A. Bonander, cashier; Oscar E. Bonander, Director.
