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Roy F. Bergengren (June 14, 1879 – November 11, 1955) was an American attorney and pioneer of the United States credit union movement. Hired by Edward Filene in July 1921 to head the Credit Union National Extension Bureau, [2] Bergengren carried out an ambitious legislative agenda that resulted in the enactment of the Federal Credit Union Act, the creation of the Credit Union National ...
Roy Bergengren, director of Credit Union National of America, dedicated his book, Credit Union North America to A.B. MacDonald, who he describes as "an extraordinary organizer and an inspired leader who is known in every city, town and fishing hamlet throughout the length and breadth of the province".
When Bergengren started what he referred to as his "crusade" in 1921, there were only 199 credit unions in the U.S. By 1925, 15 states had passed credit union laws and 419 credit unions were serving 108,000 members. The collaboration between Bergengren and Filene, and the work of the Extension Bureau, proved very effective.
And just like with a traditional brick-and-mortar bank or credit union, your deposits are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC) or National Credit Union ...
In 1908, Filene and Massachusetts banking commissioner Pierre Jay, helped organize public hearings on creating credit union legislation in Massachusetts. [11] The Massachusetts Credit Union Act of 1909 was the first comprehensive credit union law in the United States, and would serve as a model for the Federal Credit Union Act of 1934.
Credit unions are not-for-profit financial cooperatives. In the early stages of development of a nation's financial system, unserved and underserved populations had to rely on risky and expensive informal financial services from sources like money lenders, ROSCAs and saving at home. Credit unions proved they could meet demand for financial ...
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- 4236 Buckeye Parkway, Grove City, Ohio · Directions · +1 614-221-3233