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WSECU was founded in 1957 [4] by 40 Washington state government employees. [5] [better source needed] The charter was initially limited to employees of Local No. 443, but expanded in 1958 to include all state employees, Washington State Employees Association and the Washington Federation of State Employees and Credit Union Employees.
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In 2018, the number of members in credit unions worldwide was 375 million, with over 100 million members having been added since 2016. [ 5 ] Leading up to the financial crisis of 2007–2008 , in 2006, 23.6% of mortgages from commercial banks were subprime , compared to only 3.6% of those from credit unions, and banks were two and a half times ...
The number of credit unions reached their peak in 1969 with 23,866 institutions and total assets of $16 billion. [10] A museum on the history of credit unions, America's Credit Union Museum, is located in Manchester, New Hampshire. It opened in 2002. [11]
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