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The first working credit union models sprang up in Germany in the 1850s and 1860s, and by the end of the 19th Century had taken root in much of Europe. They drew inspiration from cooperative successes in other sectors, such as retail and agricultural marketing (see history of the cooperative movement ). Similar institutions were independently developed somewhat earlier in Japan, in the early ...
Modern credit union history dates from 1852, when Franz Hermann Schulze-Delitzsch consolidated the learning from two pilot projects, one in Eilenburg and the other in Delitzsch in the Kingdom of Saxony into what are generally recognized as the first credit unions in the world.
Franz Hermann Schulze-Delitzsch, also Hermann Schulze, (29 August 1808 – 29 April 1883) was a German politician and economist. He was responsible for the organizing of the world's first credit unions. He was also co-founder of the German Progress Party .
St. Mary's Bank of Manchester, New Hampshire, holds the distinction as the first credit union in the United States. Assisted by a personal visit from Canadian credit union pioneer Alphonse Desjardins, St. Mary's Cooperative Credit Association was founded by French-speaking immigrants to Manchester from the Maritime Provinces of Canada on November 24, 1908. As the leader of St. Marie's church ...
Wells Fargo was an American banking company based in San Francisco, California, that was acquired by Norwest Corporation in 1998. During the California Gold Rush in early 1848 at Sutter's Mill near Coloma, California, financiers and entrepreneurs from all over North America and the world flocked to California, drawn by the promise of huge profits.
Crédit Mobilier. The Crédit Mobilier (officially the Société Générale du Crédit Mobilier, lit. 'general company for movable [collateral-backed] credit') was a French banking company created in 1852 by the Pereire brothers, and one of the world’s most significant and influential financial institutions in the mid-19th century.
The history of the United States from 1815 to 1849 was the period of westward expansion in America. The spread of democracy opened the ballot box to nearly all white men, allowing Jacksonian democracy to dominate politics during the Second Party System. Whigs, representing wealthier planters, merchants, financiers, and professionals, wanted to ...
Peter J. McGuire (July 6, 1852 – February 18, 1906) was an American labor leader of the nineteenth century. He co-founded the United Brotherhood of Carpenters and Joiners of America in 1881 along with Gustav Luebkert [1] and became one of the leading figures in the first three decades of the American Federation of Labor. He is credited with first proposing the idea of Labor Day as a national ...