Not for profit, not for charity, but for service.
Around the world, co-ops have helped people meet their shared needs and build stronger communities, together. And like other co-operatives, the first formal credit unions developed from traditions of mutual aid in response to the economic and social changes brought on by the Industrial Revolution and the expansion of capitalism in the 1800s. Today, there are 85,400 credit unions worldwide with 274 million members, including 1 in 3 Americans.
We discuss the origins and development of the credit union movement, the unique role of Community Development Credit Unions, and how these member-owned financial co-ops grow community wealth, support economic development, and build resilient local economies.
Recorded September 14, 2021.