[Congressional Record Volume 140, Number 90 (Wednesday, July 13, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: July 13, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
              ANNIVERSARY OF THE FEDERAL CREDIT UNION ACT

 Mr. PRYOR. Mr. President, Sunday, June 26 marked the 60th 
anniversary of the signing of the Federal Credit Union Act. That 
legislation gave birth to a national movement which today is comprised 
of a community of 13,000 member institutions. For 60 years now, Federal 
credit unions have offered cooperative savings opportunities to 
individuals of all financial means. This has been their principal 
mission, and I am convinced it is the characteristic which will 
distinguish them from all other types of financial institutions in the 
future.
  I believe it is important to recognize the achievements of those 
institutions which truly are ``the people's banks''--Federal credit 
unions. As they have in the past, Federal credit unions continue 
serving their members in a manner consistent with their tradition of 
cooperation and democratic participation. I am proud to say that the 95 
Federal credit unions representing 212,000 members in my home State of 
Arkansas are fine examples of the credit union community's cooperative 
service ideals. I commend Federal credit unions for their dedicated 
service to their members over these 60 years and wish them continued 
success.

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