117 Years of Credit Union History

The American credit union movement began in the early 1900s as a cooperative financial system designed to serve working-class and underserved populations ignored by traditional banks.

April 1909 – St. Mary's Cooperative Credit Association, the first U.S. credit union, opens in Manchester, New Hampshire, with assistance from Alphonse Desjardins. Massachusetts Bank Commissioner Pierre Jay and wealthy Boston merchant Edward A. Filene join forces to enact the Massachusetts Credit Union Act, the first general statute for establishing credit unions in the United States. For his efforts, Filene earns the moniker "Father of U.S. Credit Unions."

March 1947 - What is now Ridgedale Federal Credit Union was formed by the Employees of Ciba Pharmaceuticals Company, Inc.

click here for an historical time line of credit unions