Where was the first credit union in America established?

The first credit union in America was established in Manchester, New Hampshire, in 1909. This pioneering financial institution, named the St. Mary's Bank Credit Union, was founded by a group of French-Canadian mill workers who sought to provide their community with access to financial services. The establishment of this credit union laid the groundwork for the credit union movement in the United States, emphasizing the principles of mutual assistance and cooperative economics. This historical context is significant because it illustrates how credit unions evolved to meet the needs of specific communities, which is still a core characteristic of credit unions today.