CREDIT UNIONS - 100 YEARS OF SUCCESS
CREDIT UNIONS - 100 YEARS OF SUCCESSposted: Sunday, February 01, 2009 The first credit union in the United States, La Caisse Populaire Ste-Marie, or St. Mary's Bank, was organized on November 24, 1908 in Manchester, New Hampshire. Monsignor Pierre Hévey, pastor of St. Mary's Church, saw the need for his French-Canadian textile mill working parishioners to have financial services. Hévey invited Alphonse Desjardins, the father of Canadian credit unions, to speak to the local community about the benefits of credit unions. Desjardins' talk went so well that right then and there, the people organized a credit union. Attorney Joseph A. Boivin was chosen as the first manager and president of the group. In order to get the credit union started, Boivin offered up space in his three-story tenement home at the corner of Amory Street and Notre Dame Avenue. Thus, was established the first credit union in the United States. Amazingly, the first deposits were held in a modest tin box.
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CREDIT UNIONS - 100 YEARS OF SUCCESS
CREDIT UNIONS - 100 YEARS OF SUCCESSposted: Sunday, February 01, 2009 The first credit union in the United States, La Caisse Populaire Ste-Marie, or St. Mary's Bank, was organized on November 24, 1908 in Manchester, New Hampshire. Monsignor Pierre Hévey, pastor of St. Mary's Church, saw the need for his French-Canadian textile mill working parishioners to have financial services. Hévey invited Alphonse Desjardins, the father of Canadian credit unions, to speak to the local community about the benefits of credit unions. Desjardins' talk went so well that right then and there, the people organized a credit union. Attorney Joseph A. Boivin was chosen as the first manager and president of the group. In order to get the credit union started, Boivin offered up space in his three-story tenement home at the corner of Amory Street and Notre Dame Avenue. Thus, was established the first credit union in the United States. Amazingly, the first deposits were held in a modest tin box.
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