West Covina Federal Credit Union

The 1st credit union was set up in 1864 by a group of farmers in Germany. The 1st credit union in the US was organized in New Hampshire in 1909. By 1990 there were nearly 13, 000 federally-insured credit unions in the US reporting more than 55 million members and total assets of about $198 billion. A credit union is a not-for-profit, financial cooperative and credit association that supplies loans to its members at lower rates of interest than would otherwise be available.