9 Quick and Fun Facts About Credit Unions and Money

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The FACT of the matter is

Unity Catholic FCU is here to educate our members on credit unions

Happy Halloween! To celebrate Halloween, here are nine fun facts about Credit Unions:

  1. The idea of Credit Unions originated in Europe in the late 19th century. Stemming from the cooperative movement, the very first credit union, or cooperative, opened in 1849.

  2. The first U.S. credit union opened on April 6th, 1909 in Manchester, New Hampshire. It was called St. Mary’s Cooperative Credit Association.

  3. In 1934, President Franklin Roosevelt signed the Federal Credit Union Act into law. This established credit unions as an alternative option to banks.

  4. Credit Unions are not-for-profit organizations.

  5. There are 263 credit unions in Ohio, with over 700 branch office locations as of September 2019. There are a total of 3.02 million Ohio credit union members.

  6. There are over 89,000 credit unions worldwide. There are117 countries around the world that have operating credit unions as of 2017.

  7. Once you are a member of a Credit Union, you are a member for life, regardless of whether you still meet the eligibility requirements. You just have to maintain an account there.

  8. Edward A. Filene is considered the “Father of Credit Unions.”

  9. Credit Unions are awesome and you can join one today!!

Have a safe and happy Halloween!! 

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