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The general provisions in the Federal Act were based on the Massachusetts Credit Union Act of 1909, [2] and became the basis of many other state credit union laws. Under the provisions of the Federal Credit Union Act, a credit union may be chartered under either federal or state law, a system known as dual chartering, which is still in ...
The Bureau of Federal Credit Unions was a federal agency in the United States that supervised and chartered federal credit unions from 1934 until 1970. The Bureau was created through the Federal Credit Union Act as part of the New Deal. It was self-financing and did not receive appropriations from general Treasury funds. [1]
The Massachusetts Credit Union Act of 1909 was signed into law and credit unions were formed throughout the state. Filene organized the National Association of Peoples Banks to advance the credit union cause in the United States. Little progress was made until 1921, when Filene observed in Roy Bergengren the key organizer he needed. Together ...
The NCUSIF is supervised by the National Credit Union Agency, an independent federal agency created in 1970. The NCUSIF has the full backing of the U.S. government in case an insured credit union ...
Senator Morris Sheppard and Congressman Wright Patman are considered the fathers of the Federal Credit Union Act of 1934. Sheppard was the act's author. The bill had stalled in the United States House of Representatives, considerably shortening the time the United States Senate had to pass the final version. Rather than sending the bill to a ...
Despite opposition from the banking industry, the Federal Credit Union Act was signed into law in 1934 as part of the New Deal, allowing the creation of federally chartered credit unions in the United States. The Credit Union National Association (CUNA) was formed and by 1937, 6400 credit unions with 1.5 million members were active in 45 states ...
Download as PDF; Printable version; ... Communications Act of 1934; ... Federal Credit Union Act; Fish and Wildlife Coordination Act; Frazier–Lemke Farm Bankruptcy Act;
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