Credit Union National Extension Bureau

The Credit Union National Extension Bureau (CUNEB) was the organization that advocated for and fostered credit unions in the United States from 1921 until 1934. CUNEB laid the foundation for the Credit Union National Association (CUNA) and the Federal Credit Union Act. CUNEB was organized and funded by Edward Filene, managed by Roy Bergengren, and was largely responsible for the proliferation of credit unions in the United States.

In the early 20th century, many ordinary American workers did not have access to loans when they needed them and fell victim to usury and loan sharks. Inspired by cooperative banks in India, American businessman Edward Filene began advocating for credit union legislation in Massachusetts in 1908. The Massachusetts Credit Union Act of 1909 was signed into law and credit unions were formed throughout the state. Filene organized the National Association of Peoples Banks to advance the credit union cause in the United States. Little progress was made until 1921, when Filene observed in Roy Bergengren the key organizer he needed. Together with Bergengren he founded the Credit Union National Extension Bureau. The Extension Bureau had four goals:

1. to bring about the laws needed for credit union development in the various states,
2. subsequently, to organize some credit unions in each state that could serve as examples to others,
3. to expand the number of credit unions to the point that they could create self-sustaining state federations, and
4. to combine the federations into a self-sustaining national association.

In June 1924, the Extension Bureau began publishing The Bridge, a precursor to Credit Union Magazine of which Bergengren was the editor. Bergengren travelled the country and attended the meetings of credit union organizers. He appeared before state legislators and recruited volunteer organizers. Laws were passed and the Extension Bureau began to realize its goals. When Bergengren started what he referred to as his "crusade" in 1921, there were only 199 credit unions in the U.S. By 1925, 15 states had passed credit union laws and 419 credit unions were serving 108,000 members.

The collaboration between Bergengren and Filene, and the work of the Extension Bureau, proved very effective. It eventually brought state laws to fruition in 26 states and substantially revised flawed legal frameworks in 5 others. In 1934 the Roosevelt Administration passed the Federal Credit Union Act, making it possible to form a credit union anywhere in the United States.

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