Celebrating 92 Years of the Federal Credit Union Act

On June 26, credit unions across the nation celebrate an important milestone in our history. This year marks 92 years since President Franklin D. Roosevelt signed the Federal Credit Union Act into law on June 26, 1934. The legislation established a framework for federally chartered credit unions and expanded access to affordable financial services for Americans nationwide.

While the first credit union in the United States was founded by Alphonse Desjardins in 1909, the passage of the Federal Credit Union Act helped accelerate the growth of the credit union movement and brought the cooperative financial model to communities across the country.

Did you know that Levo Credit Union traces its roots back to 1934, making it the oldest active credit union in South Dakota? Chartered as Federal Charter #60, Levo was founded during the same year the Federal Credit Union Act was signed, providing financial services built on the philosophy of people helping people.

Over the past nine decades, Levo has grown alongside the communities it serves. What began as a small member-owned financial cooperative has evolved into a modern financial institution serving members in South Dakota, North Dakota, Iowa, and Minnesota. Through changing economic conditions, technological advancements, and generations of members, Levo has remained committed to helping people achieve their financial goals through trusted guidance, competitive financial products, and personalized service.

Today, Levo serves tens of thousands of members and continues to invest in the communities where they live and work. From supporting local nonprofits and community initiatives to helping families buy homes, finance vehicles, save for the future, and navigate life's financial milestones, Levo remains dedicated to making a positive difference.

While much has changed since 1934, the core mission of credit unions remains the same: putting people before profits and helping members build brighter financial futures. As we celebrate 92 years of the Federal Credit Union Act, we're proud to honor the legacy of those who helped establish the credit union movement and grateful for the members who continue to make that mission possible today.