In which year did the first credit union open in North America?

The first credit union in North America opened in 1901 in Manchester, New Hampshire. This marked a significant milestone in the cooperative banking movement, providing a structure for savings and loan systems that were member-owned and focused on community support. The establishment of this credit union laid the groundwork for the development and expansion of credit unions across the United States and Canada, emphasizing the principles of mutual assistance and financial cooperation among members. Understanding this historical context is crucial for recognizing how credit unions evolved to meet the financial needs of their members and the importance of cooperative principles in the financial industry.