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Home > Credit Union Philosophy > Credit Unions Come to North America

Credit Unions … A Quick History Lesson

Credit Unions come to North America (1901)

Alphonse Desjardins formed North America’s first credit union in Levis, Quebec, in 1901. Its first savings deposit was just ten cents, and the first collection from all members totaled $26.

The first credit union in the US, St. Mary’s Bank, was formed in 1909 in Manchester, New Hampshire. St Mary’s Bank still operates under the same name, and the St. Mary’s Bank building was recently placed on the National Historic Registry.

For more information about other periods of credit union history, click on the links below

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