Credit union mergers have received a lot of negative attention in recent years. Canvas Credit Union CEO Todd Marksberry argues that mergers can be both a viable growth strategy and a means of better serving credit union communities.
Part 3 of this credit union history series explores the formation of the Federal Credit Union Act in 1934, the rapid growth of credit unions nationwide in the decades to follow and sets us up for the emergence of an independent governing agency for credit unions, which had been passed around between four different supervisory agencies!
We continue from part 1 of our History of Credit Unions series by following credit unions from their origins in Europe to how they got their start in Canada and eventually the United States. Who lead the way? Find out here!