Macy's Credit Corp bond certificate 1974 (Delaware) - gold border

Just charge it! Great vignette of a topless seated classical female figure. Perforation holes through vignette as shown. Various denominations. Gold border. Issued and cancelled. Dated 1974. Measures approximately 12 x 8 inches.

The Macy Credit Corporation (MCCS) is associated with Macy's, Inc., which started as R.H. Macy & Co. in 1858, but the credit entity itself, Macy's Credit & Customer Services, Inc. was incorporated 1961.

Macy's, Inc. is an American holding company of department stores. Established 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year.

In 1994, Federated took over Macy's. Despite a long history of preserving regional names, with the acquisition of The May Department Stores Company in 2005, they were retired and replaced by the Macy's and Bloomingdale's brands nationwide by 2006. Ultimately, Federated itself was renamed Macy's, Inc. in 2007.

Macy's, Inc. owns the department store chains Bloomingdale's and Macy's, and beauty store chain Bluemercury, all of which operate flagship stores in Manhattan.

Macy Credit Corporation was a wholly owned consumer credit subsidiary of R.H. Macy & Co. (now Macy's, Inc.).

Purpose:
The corporation was established to purchase and finance customer accounts receivable generated through Macy's deferred payment plans (credit accounts).

Financing:
It frequently issued public debt, such as 20-year debentures, to fund its operations.

Depositor Accounts:
The Straus brothers, who took over R.H. Macy & Co., introduced depositor accounts where customers could deposit money and charge purchases, acting as an early form of installment plans.

Cash-Only Era:
Rowland Macy initially favored cash, but the business grew, eventually integrating credit options, though official Macy's credit cards were not issued until the 1950s.

Divestiture:
In 1990, Macy's sold its credit subsidiaries (including Macy Credit Corp.) to GE Capital for approximately $1.6 billion as part of a debt reduction strategy.

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