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News Now

Washington
CUNA commends effort to honor Americas CUs
WASHINGTON (6/11/08)—Dan Mica, president/CEO of the Credit Union National Association (CUNA), commended Reps. Carol Shea-Porter and Paul Hodes on their successful efforts to mark the 100-year anniversary of credit unions in America with a House resolution. The two New Hampshire Democrats witnessed their resolution, H.RES.1145, pass the House Tuesday by voice vote. The action honors the 100th anniversary of the founding of the first state-chartered credit union, St. Mary's Cooperative Credit Association of Manchester, N.H., and calls that event "the birth of the American credit union." Thanking Shea-Porter and Hodes for their effort on behalf of the country’s credit unions, CUNA’s Mica said, “The credit union movement is proud of its history and will continue to provide low-cost, convenient service to its member-owners.” The establishment of St. Mary’s Cooperative, Mica added, is “a very significant event in the history of credit unions and our nation’s financial system.” He noted the credit union difference: that as cooperative financial institutions, credit unions are owned and controlled by the people who use its services.


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