08/19/2026
In 1908, a group of mill workers in Manchester, New Hampshire, wanted something pretty simple: a safe place to save their money and access affordable loans.
At the time, commercial banks weren't always accessible to working-class families, so the community decided to create its own solution. With guidance from Canadian credit union pioneer Alphonse Desjardins, local residents pooled their savings in the home of volunteer Joseph Boivin, creating St. Mary’s Cooperative Credit Association, the first credit union in the United States.
The principle was simple: people helping people build greater financial security. 🤝
More than a century later, technology has changed, but that principle hasn't.
At NYU FCU, being a credit union means:
💰 Your money works for members. As a member-owned cooperative, we put earnings back into the credit union through competitive rates and fewer fees.
🏦 Your deposits support your community. The money you save helps fund loans and other financial services for fellow members.
👥 We're here for members, not outside investors. We don't have corporate stockholders demanding returns. Our purpose is to serve the people who belong to the credit union.
Banking doesn't have to feel distant or impersonal. It can be built around the people it serves.
That's the credit union difference.
