Is Labor Day a Credit Union Holiday?
Labor Day and Credit Unions
Not Just A Long Weekend
Labor Day isn’t just another long weekend. It’s a celebration and a tribute to the American worker. A nod to the victories of the labor movement, hard-won and well-deserved.
In the late 19th century, workers banded together. They organized and marched. They fought for fair wages, reasonable hours, and safer conditions. They demanded respect and recognition, codified in law. The result? Labor Day—a day to honor those building our nation with sweat, toil, and unwavering resolve.
But as we gather to celebrate, we must also acknowledge the institutions that have stood by these workers. Among them, credit unions have played a pivotal role. Quietly and steadily, they have been the financial backbone for millions, across countless industries.
A common thread
Labor Day and credit unions share a common thread: the pursuit of workers' rights and dignity. While labor activists were securing better working conditions, a different movement was emerging—one aimed at securing better financial outcomes. Credit unions were born from this same spirit of solidarity. Their mission? Simple yet profound: people helping people. They offered workers access to affordable financial services, paving the way to economic independence.
The first U.S. credit union, St. Mary's Cooperative Credit Association, opened its doors on April 6, 1909. It was a modest operation in Manchester, New Hampshire. But it served a critical need—helping immigrant mill workers excluded from traditional banking.
These workers, often overlooked and underpaid, pooled their resources. They lent each other money. They saved together. They built a community that could stand strong and independent. St. Mary's became a beacon of hope, a symbol of what could be achieved through cooperation.
“Credit unions offered what traditional banks couldn’t—fairness, access, and a sense of community.”
The Credit Union Movement Spreads
This movement didn’t stop in Manchester. From the Northeast to the Midwest, all the way to the West Coast, credit unions became safe havens for workers. They offered what traditional banks couldn’t—fairness, access, and a sense of community. Workers could now afford homes, cars, education—opportunities that once seemed out of reach.
Credit unions empowered workers to build better lives. Throughout the 20th century, credit unions grew, evolved, and adapted. During the Great Depression, they were lifelines, providing financial stability when everything else seemed to falter. In the post-war era, they helped workers realize the American Dream. They made it possible to buy homes, educate children, and secure futures.
Achieve Credit Union and the Legacy of Support
Fast forward 49 years after St. Mary’s first opened its doors. A small group of teachers gathered at Midview High School in Grafton, Ohio. They pooled their money, just like those workers in Manchester. And they formed what we know today as Achieve Credit Union.
As Labor Day reminds us of the progress made by the labor movement, credit unions remind us of another kind of progress—financial empowerment. Achieve Credit Union is a not-for-profit institution, owned by its members. The goal isn’t to maximize profits; it’s to promote financial success for every member.
This mission aligns with the values of the labor movement. It’s about people over profit. Service over self-interest.
The Bond Between Labor Day and Credit Unions
The connection between Labor Day and credit unions is a testament to the enduring power of solidarity and community. Just as Labor Day celebrates the achievements of workers, credit unions celebrate the belief that together, we can build better financial futures.
So, as we enjoy this holiday, let’s take a moment to appreciate the credit unions that have stood by American workers for over a century. We’ve shown up from the beginning and we’re here today—continuing to empower, uplift, and support!
About the Author
Scott Nelson
Scott Nelson has served as Achieve Credit Union’s Marketing Director since 2022. Scott’s a big fan of credit unions and the positive impact they have on the local communities they serve.
Fun fact: You may see Scott at your local high school baseball games - as an umpire.