ARTICLE
CUInsight.com -- One hundred years ago, silent movies gave way to “talkies,” and women donning short, tousled bobs flocked to take in popular films like Ben-Hur and The Phantom of the Opera. The American Telegraph & Telephone Company opened a second transcontinental phone line, making it possible—though clunky and expensive—for Americans to connect with distant friends and family. And, that spring, a handful of Minneapolis postal workers pooled $146.25 to further each other’s financial goals, founding Minnesota’s first credit union. In the ‘30s, similar stories began unfolding across Minnesota and our country. Teachers, transportation workers, tire manufacturers, and so many other groups were choosing to find ways support each other, providing necessary loans at affordable rates that would otherwise be difficult to find, and conducting business out of tiny offices, cash boxes or cigar tins. We’ve come a long way since then. In the ‘40s, World War II sent many young soldiers overseas, and Rosie the Riveter urged more wavy-haired women into the workplace. Our credit unions stepped up to help the war effort, selling more than 12 million war bonds for $404 million (about $5.7B in today’s dollars!). As the tumult of the Great Depression slowly faded, credit union branches became fixtures in both rural and urban communities. By the 1960s, British music had invaded, and more than 10,000 credit unions helped more than six million members get by with a little help from their friends—many of whom were sporting Wayfarers and Vitalis-polished locks. Project Moneywise launched in 1966, expanded credit union services to low and moderate-income communities, cementing our commitment to serve the underserved. In the ‘80s, I was rocking my big bangs and permed hair. After I bought my Aqua Net and jelly bracelets, I would bring the rest of my birthday money to my neighborhood credit union, where I’d happily watch the digits add up in my paper savings passbook. Even then, I knew credit unions were different, and I wanted to be a part of them. By 1995, my style switched to grunge, wearing flannels and bootcut jeans. I worked several jobs to save for college and brought my paper check to that same credit union to deposit. Email was starting to become a thing, and friends were chatting via AOL or Prodigy, but services like digital banking were a little way out. Our more than 10,000 credit unions were experiencing steady growth as the economy ebbed and flowed, ending the decade with $411.4 billion. In the time since then (how was the ‘90s 30 years ago?!), our industry has seen so much wonderful growth. In Minnesota alone, we serve over 2.2M members, using $41.3B in assets as tools to help them reach their goals. Our strong branch networks provide the members that prefer it with high-touch service, and we’ve coupled that with intuitive, convenient technology. We continue to adapt to meet our members’ changing needs and do it in a way that remains true to our mission of people helping people. As we celebrate 100 years in Minnesota, we honor the people across our country—our members, our volunteers, and our dedicated employees—who have made this journey possible. Together, we've built a legacy of trust and opportunity. And together, we look forward to the next 100 years of partnership, excellence, innovation, respect, value, and community support. Thank you for being part of our journey. Cheers to 100 years!
CUInsight.com -- One hundred years ago, silent movies gave way to “talkies,” and women donning short, tousled bobs flocked to take in popular films like Ben-Hur and The Phantom of the Opera. The American Telegraph & Telephone Company opened a second transcontinental phone line, making it possible—though clunky and expensive—for Americans to connect with distant friends and family. And, that spring, a handful of Minneapolis postal workers pooled $146.25 to further each other’s financial goals, founding Minnesota’s first credit union.
In the ‘30s, similar stories began unfolding across Minnesota and our country. Teachers, transportation workers, tire manufacturers, and so many other groups were choosing to find ways support each other, providing necessary loans at affordable rates that would otherwise be difficult to find, and conducting business out of tiny offices, cash boxes or cigar tins.
We’ve come a long way since then.
In the ‘40s, World War II sent many young soldiers overseas, and Rosie the Riveter urged more wavy-haired women into the workplace. Our credit unions stepped up to help the war effort, selling more than 12 million war bonds for $404 million (about $5.7B in today’s dollars!). As the tumult of the Great Depression slowly faded, credit union branches became fixtures in both rural and urban communities.
By the 1960s, British music had invaded, and more than 10,000 credit unions helped more than six million members get by with a little help from their friends—many of whom were sporting Wayfarers and Vitalis-polished locks. Project Moneywise launched in 1966, expanded credit union services to low and moderate-income communities, cementing our commitment to serve the underserved.
In the ‘80s, I was rocking my big bangs and permed hair. After I bought my Aqua Net and jelly bracelets, I would bring the rest of my birthday money to my neighborhood credit union, where I’d happily watch the digits add up in my paper savings passbook. Even then, I knew credit unions were different, and I wanted to be a part of them.
By 1995, my style switched to grunge, wearing flannels and bootcut jeans. I worked several jobs to save for college and brought my paper check to that same credit union to deposit. Email was starting to become a thing, and friends were chatting via AOL or Prodigy, but services like digital banking were a little way out. Our more than 10,000 credit unions were experiencing steady growth as the economy ebbed and flowed, ending the decade with $411.4 billion.
In the time since then (how was the ‘90s 30 years ago?!), our industry has seen so much wonderful growth. In Minnesota alone, we serve over 2.2M members, using $41.3B in assets as tools to help them reach their goals. Our strong branch networks provide the members that prefer it with high-touch service, and we’ve coupled that with intuitive, convenient technology. We continue to adapt to meet our members’ changing needs and do it in a way that remains true to our mission of people helping people.
As we celebrate 100 years in Minnesota, we honor the people across our country—our members, our volunteers, and our dedicated employees—who have made this journey possible. Together, we've built a legacy of trust and opportunity. And together, we look forward to the next 100 years of partnership, excellence, innovation, respect, value, and community support.
Thank you for being part of our journey. Cheers to 100 years!