This memorial is located in Boston Common. It has a relief depiction of Filene and the following text:
""Edward A. Filene
1860-1937
Author, scholar, outstanding citizen of Boston and public benefactor
Acknowledged as the founder of the credit union movement in the United States
This tablet erected by the Credit Union National Association
May 1959"
Wikipedia (
visit link) informs us about the man and his writings:
"Edward Albert Filene (September 3, 1860, Salem, Massachusetts - September 26, 1937, Paris, France) was an American businessman and philanthropist. He is best known for building the Filene's department store chain and for his decisive role in pioneering credit unions across the United States...
Management policies
Main article: Filene's
Edward Filene drew inspiration from the scientific management ideas of Frederick Winslow Taylor. While Taylor is best known for the use of scientific methods to increase workplace efficiency, he was also interested in how to improve the quality of work for employees. Filene is credited with refining a number of under-utilized and some cases novel retailing techniques. Filene’s Department Store offered complete and honest descriptions of its merchandise and offered to give customers their "money back if not satisfied".
Although Filene's Basement was not the first ‘bargain basement’ in the United States, the retail design and later the ‘automatic mark-downs’ generated excitement and proved very profitable. Filene personally supervised construction of the first basement in Boston. An advocate of consumer education, he introduced color matching tools in the clothing departments of his stores.
Filene was also a pioneer in employee relations. He instituted a profit sharing program, a minimum wage for women, a 40-hour work week, health clinics and paid vacations. He also played an important role in encouraging the Filene Cooperative Association: ‘perhaps the earliest American company union’. Through this channel he engaged constructively with his employees in collective bargaining and arbitration processes.
He formed a savings and loan association for employees which later became the Filene Employee’s Credit Union...
Publications
The Way Out: A Forecast of Coming Changes in American Business and Industry. (1925)
More Profits from Merchandising: The Model Stock Plan for Distributors, Producers, and Buyers. (1925)
The Model Stock Plan. (1930)
Successful Living in This Machine Age. (1931)
The Consumer's Dollar, John Day (1934)
Morals in Business. (1935)
Next Steps Forward in Retailing. (1937)
Speaking of Change: A Selection of Speeches and Articles. (1939)"