Credit Union Industry
at a Glance
The credit union industry has its roots in the cooperative movement of the 19th century, starting in Europe and later spreading to North America. In the United States, the first credit union was established in 1909 in New Hampshire, inspired by the success of Canada’s caisse populaire, founded by Alphonse Desjardins.
Designed as not-for-profit financial cooperatives, credit unions were created to serve members…
…with common bonds, such as geographical location or employment, offering an alternative to traditional banks by prioritizing members; needs over profit. The industry grew significantly with the passage of the Federal Credit Union Act in 1934, which established a national system to charter and supervise federal credit unions.
Since then, credit unions have been recognized for their member-focused services, offering competitive rates and community-oriented financial solutions, and they continue to play a vital role in providing inclusive financial services.
Today, there are an estimated 4,500+ active
Discover Your Ideal
Credit Union
Some credit unions are chartered with the common bonds of religion, military service, or corporate employment. In these situations, CU Station™ will account for those unique common bonds to assist with finding the right credit union for you.
Across the industry, credit unions offer multiple products or loans while revenue made goes back into supporting lower loan rates, special deals, and higher interest rates for savings accounts and CDs. To complement the products, credit unions offer a wide variety of services to support your active money management.
CU Station™ is excited to support the community around the credit union industry as the core tenet of giving back to the community aligns with our purpose and vision.
