1915 (the year the first credit union was established in the U.S.)

The year 1915 marks the establishment of the first credit union in the United States, a financial cooperative owned and operated by its members. Credit unions are nonprofit organizations that offer savings accounts and loans, often at better rates than commercial banks. They were created to serve community members, workers, or specific groups, providing affordable financial services and encouraging savings and financial stability. This model promotes financial inclusion and community support, emphasizing shared benefits over profit. Since 1915, credit unions have grown significantly, becoming an important part of the country's financial landscape.