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Help Celebrate 90 Years of the Federal Credit Union Act

This month, the credit union movement marks 90 years of the National Credit Union Act. Signed into law on June 26, 1934 by President Franklin D. Roosevelt, this key milestone is a reason for credit unions to celebrate.

The legislation empowered credit unions to organize under state or federal charters and established the Bureau of Federal Credit Unions, which eventually became the National Credit Union Administration (NCUA).

Born from a grassroots movement advocating for cooperative credit, the Act set the stage for credit unions to thrive, even during challenging economic times. Back in 1934, 39 credit unions served 3,200 Americans. Today, over 140 million Americans enjoy the benefits of being member-owners of not-for-profit financial cooperatives.

To commemorate this milestone, the MD|DC Credit Union Association, in collaboration with the American Association of Credit Union Leagues, is offering free resources to help credit unions celebrate and highlight their vital role in advancing community financial well-being. For access to the toolkit, please email John Coleman at Jcoleman@mddccua.org.

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