When the banks left New York's Lower East Side in the 1980′s, the neighborhood reacted with a breakthrough idea: Let's skip the middleman and take care of each other. They pooled their money and the Lower East Side People's Federal Credit Union was born.
This is the story of credit unions all the way back to industry's beginning: regular people taking a "do it yourself" approach to solve seemingly insurmountable environmental pressures and creating something new.
The moral is simple: When people lose access to a fundamental need, we find creative ways to restore that access.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
