Mr. Speaker. I want to thank my friend and colleague for his support on this resolution. Mr. Speaker. I am pleased today to rise today to recognize the 100th anniversary of our Nations first credit union. In 1908. St. Marys Cooperative Credit Association. later to be renamed the Bank of the People. was established In Manchester. New Hampshire. Manchester had textile mills then. The mill workers resources were pooled to create credit and savings opportunities for workers. many of whom were immigrants. In 1934. 26 years after the establishment of St. Marys. President Franklin D. Roosevelt signed the Federal Credit Union Act into law. allowing for the organization of credit unions under charters approved by the Federal Government.
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immigrants