Who is recognized as the "Father" of the US Credit Union Movement for investing nearly $1 million of his own money to promote credit union growth?

Edward Filene is recognized as the "Father" of the US Credit Union Movement due to his significant contributions and investments that greatly influenced the establishment and growth of credit unions in the United States. Filene was a prominent businessman who believed in the cooperative principle and the potential of credit unions to provide financial services and assistance to working-class individuals.

His investment of nearly $1 million to promote credit union growth was pivotal in laying the foundation for the cooperative movement, advocating for member ownership and democratic control within financial institutions. Filene's efforts included supporting legislation that led to the establishment of credit unions and ensuring they became a viable alternative to traditional banking institutions. His vision and leadership inspired others to invest in the movement, fostering an environment where credit unions could thrive.

This historical context highlights Filene's immense influence and the legacy he left in the financial service landscape, making him a central figure in the credit union movement.