Locations & ATMs | Membership | Services | Contact Us | Accounts Online
 
What is a CU? | CU Philosophy | CU History | Identity Theft
 
History of Credit Unions in the United States
 
  • Federal Credit Union Act
    • In 1934, Congress passed a federal credit union act, which permitted credit unions to be organized anywhere in the United States.
    • The legislation allowed credit unions to incorporate under either state or federal law, a system of dual chartering that persists today.
    • President Franklin D. Roosevelt signed the Federal Credit Union Act into law in June, 1934.
  • CUNA
    • In 1934, the credit union idea spread so fast that credit unions and leagues recognized the need for a national organization. At a meeting at Estes Park, Colorado, the Credit Union National Association (CUNA) was formed as a confederation of state leagues.
    • In 1964, CUNA revised its charter to become CUNA International, taking under its wing credit unions and associations in Canada, Latin America, and elsewhere.
  • Credit Union Bill
    • November 1963 President John F. Kennedy signs the CU Bill into law on International CU Day, 1963. The bill allows federal credit unions greater operating flexibility.
    • Also, CUNA prepares to change its name to CUNA International, in recognition of its overseas responsibilities. Soon after, President Kennedy was assassinated on Nov. 22, 1963.
  • Did You Know?
    • More than 1 of every 3 adults in the U.S. belongs to a credit union?
    • In the last 30 years, the number of members have tripled (1970 = 23 million members & Today = over 76 million members)
  • What Separates Chino Federal Credit Union from Banks?
    • Member Service!
  • Some statistics about CFCU as of July 31, 2005
    • $21 million in Assets
    • 5,300 members
    • ROA .64%
    • 3 Branches - Silver City, Bayard and Deming
    • Full Service, 5 ATM Machines, Real-Time ATM/ Visa Debit Cards, Visa Classic Credit Cards, Free Checking Accounts, Free On-line Banking
>