When were credit unions created?

Answer Credit unions started in Germany in 1852. Edward A. Filene, of Filene's Basement, brought credit unions to the United States in 1909. In 1921, Filene established the Credit Union National Extension... Read More »

Top Q&A For: When were credit unions created

What Is the Difference Between Regular Credit Unions & Federally Backed Credit Unions?

Credit unions are chartered by either state governments or the federal government. When people refer to a "regular" credit union, it is generally a state-chartered institution and does not have the... Read More »

Types of Credit Unions?

A credit union is an organized financial institution that is managed by its members (who are also account holders). According to the World Council of Credit Unions, a credit union is a not-for-prof... Read More »

How to Compare Credit Unions?

Credit unions are community-based banking institutions. Banks are often owned by larger corporations, seek increasing profits and charge higher fees. Credit unions, though, are non-profit instituti... Read More »

How safe are credit unions?

On One Hand: Less Vulnerable Than Banks to Market SwingsCredit unions are less vulnerable to market swings than banks, according to They also were not involved in the subprime lending... Read More »