Chino Federal Credit Union - A History of Credit Unions in the United States

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Savings Federally insured to $100,000 by NCUA, an agency of the U.S. Government

Your savings federally Insured to at least $250,000 and backed by the full faith and credit of the United States Government, National Credit Union Administration, a U.S. Government Agency.

We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.


History of Credit Unions in the United States	Hermann Schulze
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 1963President 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