Credit Unions
Credit Union in Belfast, County Antrim
The modern Credit Union Movement traces its origins to Germany and to Friedrich Wilhelm Raiffiesen, the Mayor of a tiny town in southern Germany who in 1849 formed societies which later turned into Credit Unions The purpose of these Credit Unions was to enable people to aid themselves in relieving debt and proverty. Raiffeisen considered the following conditions as essential to the success of the Credit Union Movement.