Louise Herring was one of the people who GOT SHIT DONE in the early US #CreditUnion movement. Provided assistance in establishing 500+ #CreditUnions...

#cuhistory #coop #coophistory #coops

The first central credit unions in the US came into being because board members of #CreditUnions were not allowed to receive loans from the credit unions they were elected to oversea. (#conflictofinterest)

So credit unions were formed at the state level for which the #CommonBond was being on a #CreditUnion board or committee. They later became hubs for shared services and mutual deposit insurance, eclipsing their founding purpose.

#cuhistory #centralbanking