Credit Union History

The history of credit unions began in 1844, with a group of weavers in Rochdale, England, who established the Rochdale Society of Equitable Pioneers. They sold shares to members to raise the capital necessary to buy goods at lower than retail prices, and then sold the goods at a savings to members. In doing so, they became the first credit union.

The movement then spread to Germany in 1850, Canada in 1901 and the United States in 1908. This movement is outlined in the documents below.