80 years ago today the Federal Credit Union Act was signed into law by President F. D. Roosevelt. The Credit Union National Association Interim President/CEO Bill Hampel observed in a statement marking the occasion that the act “set federal oversight in place and provided for the development of credit unions as a way to promote thrift among the American people.”
80 years later CUNA reports “there are more than 6,600 independent, consumer-owned, volunteer-led, democratically controlled credit unions, vital to the well-being of their nearly 100 million members”.
What else was happening 80 years ago?
Did you know that was the first year the Loch Ness Monster was “sighted”. Alcatraz also opened in 1934. The average cost of new house was $5,970.00 and the cost of a gallon of gas was 10 cents!
Things sure have changed in 80 years but CURx is certainly glad to be a part of a strong credit union industry. That hasn’t changed!Read More