Georgia Credit Unions

Credit unions all over the world are increasing in numbers, especially in the urban population where people are becoming more aware of the benefits that credit unions provide which regular banking institutions simply cannot. Being non-profit, cooperative and communal financial institutions, credit unions generously help its members to attain financial stability and progress, offering them substantial investment programs, lower loan rates, high saving rates, and low charges and fees. In the United States, there are approximately 8,600 credit unions varying in field of memberships, some of the most common are associations bonded by religion, occupation, civic organization, and community.

One of the first U.S. states that enjoyed the privileges of credit unions is Georgia, beginning in the year 1924 through a state union bill drafted by Atlanta's E. Marvin Underwood, as deeply influenced by Edward Filene's credit union campaign. The Georgia General Assembly subsequently passed one of the most relevant bills of the state after a year. Today, there are more than 180 member-owned and volunteer-directed credit unions helping more than 1.7 million member-citizens of Georgia, and their estimated worth of assets to be utilized for credit programs and financial services is totaling to 190 million dollars.