|History of Credit Unions in the United States
|Federal Credit Union Act
1934, Congress passed a federal credit union act, which permitted
credit unions to be organized anywhere in the United States.
legislation allowed credit unions to incorporate under either
state or federal law, a system of dual chartering that persists
Franklin D. Roosevelt signed the Federal Credit Union Act into
law in June, 1934.
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.
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
1963President John F. Kennedy signs the CU Bill into law on International
CU Day, 1963. The bill allows federal credit unions greater operating
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?
than 1 of every 3 adults in the U.S. belongs to a credit union?
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
|Some statistics about CFCU as of July 31,
million in Assets
Branches - Silver City, Bayard and Deming
Service, 5 ATM Machines, Real-Time ATM/ Visa Debit Cards, Visa
Classic Credit Cards, Free Checking Accounts, Free On-line Banking