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NCUA Chairman Debbie Matz Remarks to Massachusetts Credit Union League

In credit union history, Massachusetts is synonymous with creativity. It was Boston’s own Edward Filene – the millionaire merchant who was a champion of “the little guy” and of progressive workplace reform – who recognized the power of cooperative credit to help small savers, and who envisioned the potential of a nationwide credit union movement. It was a Massachusetts banking commissioner, Pierre Jay, who wrote the country’s first statewide credit union law. And it was Roy   Bergengren, a Massachusetts attorney recruited by Filene, who guided the Credit Union National Extension Bureau as it grew to become a nationwide success. Thanks to the vision of those three Bay Staters, the financial innovation that started in New England developed into a thriving national industry....