Happy Independence Day, Credit Unions!

With Independence Day on the near horizon, we got to thinking about the parallels between the birth of our country to that of the credit union movement. The Declaration of Independence spells out our forefathers’ quest for equality, life, liberty and the pursuit of Happiness. Even though credit unions were first formed in Germany, not the U.S., they were formed with a cooperative spirit – just like they are today. Can you think of a larger “cooperative” entity than the United States? Hermann Schulze-Deitzsch created the first credit union in 1852 “based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity.” Sound familiar?

Like our country, credit unions have had some growth and growing pains over the years. Once they finally came to the U.S. in 1908, the credit union movement had spread to Belgium, Italy, England, Austria, Switzerland, Hungary, the Netherlands, Canada and the Balkans. It seems like the credit union “people helping people” philosophy will never go out of style, no matter where you live. We all have one thing in common with our country’s founding fathers, the desire to have a say in what happens to our money, our livelihood. 

So, this Fourth of July take a moment to be proud that you’re an American and part of the cooperative spirit of credit unions. Happy Independence Day everyone!