The Story Of The First U.S. CU

MANCHESTER, N.H. - At the turn of the 20th century, this city had become the textile-manufacturing center of the U.S. But its workers had no place to turn for savings or credit, a fact recognized by Monsignor Pierre Hevey of St. Marie's Church. With counsel and guidance from Canada’s credit union movement leader, Alphonse Desjardins, and the commitment of local attorney Joseph Boivin to serve as the first president, the first credit union in the U.S. opened in 1908. Originally called St. Mary’s Cooperative Credit Association, its name was revised in 1925 to La Caisse Populaire Ste.-Marie, or “Bank of the People,” St. Mary’s. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com