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Credit Union History

Credit Unions: For People, Not Profit

Credit unions are financial institutions with a long history of service and a strong commitment to the philosophy of "people helping people." They're focused on service, not profit, and offer the same financial products and services as banks, but at a much greater value. As Member-owned cooperative institutions, credit unions provide a safe place to save and borrow at reasonable rates.

Read on to discover the history of credit unions.

Credit Union History: Origins to Today

  • Early 1800s: Credit Union movement began in England and Germany.
  • 1880s: Farmers in Germany created credit union because they were denied loans from banks.
  • 1900s: Credit unions grew and spread to Europe, Canada and America.
  • 21st Century: Credit unions become full-service alternative to banks.
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Redwood Credit Union serves anyone living, working or owning a business in California’s Northern Bay Area, which includes the counties of Sonoma, Marin, Napa, Mendocino, Lake, San Francisco, Contra Costa and Solano. We look forward to serving you!

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