Since the mid to late 1800’s we have seen credit unions popping up in communities around the world. The first example was seen in Germany where community members pooled their resources together to provide loan to those in need of assistance. Through the years, and with help from the federal government, we now have the modern-day credit union which is universally known for their close ties to the communities they operate in and keeping their members at the center of everything they do.

As the popularity of credit unions grew through early 1900’s we saw the first credit union come to America in 1909. From there, we saw the creation of credit unions grow across America and the need to organize under federal law became more and more of a priority. In 1934, President Franklin Roosevelt signed the Federal Credit Union Act into law and organized the Federal Credit Union Administration. By 1952 there were 6,000 credit unions across our country and 2.8 million members.

With this growth we saw the formation of the Credit Union National Association (CUNA) which advocates for credit unions across the country. Within a few years it became clear that advocacy and development of credit unions on a global scale needed to be created. In 1971, the World Council of Credit Unions was formed in Madison, Wisconsin. Today, World Council still is the leading voice for global development of the internation credit union community and promotes economic freedom and sustainable growth through collaborative and community-based education.

 Credit unions have a long and rich history around the world, but having a piece of that history in our home state of Wisconsin is extra special. At Prospera Credit Union you, the member, are at the heart and soul of what we do. Just like the first credit union in 1800’s Germany, we are here to help YOU, through all of your life stages and guide you through your financial journey.

Click here to learn more about who we are and how we can provide you with personal, tailored guidance to help you prosper.