Credit unions were originally formed during severe economic times when farmers in Europe banded together to pool their financial resources. Since that time, the credit union philosophy has been expressed in the phrase, "People Helping People." This philosophy continues today, and to a large extent, explains the differences between credit unions and other financial institutions.
The first legally chartered credit union in North America was chartered in New Hampshire in 1908. By the early 1990's nearly one in four Americans were members of a credit union. |
First Credit Union Orgin
