Rural Credit Unions in the United States

Arthur H. Pursell

No 315964, Farmer Cooperative Research Report (FCRR) from United States Department of Agriculture, Economic Research Service

Abstract: Excerpts from the report: This survey is based on information provided by 33 State credit union leagues, which reported 525 rural credit unions in operation as of January 1, 1957. These credit unions serve members and employees of farmer cooperatives, members of farm organizations, and residents of rural communities. Total members reported were 145,492; share savings, $47.2 million; loans outstanding, $41.3 million; and total assets, $52.1 million. North Dakota led in number of rural credit unions with 68, California was second with 52, Indiana third with 43, and Kansas fourth with 40. Indiana led in total membership with 22,000 and also led in total shares, total loans outstanding, and total assets. North Carolina was the first State to initiate a strictly rural credit union program -- back in 1915; Minnesota was second, starting in the early 1920's.

Keywords: Agribusiness; Agricultural Finance; Financial Economics (search for similar items in EconPapers)
Pages: 14
Date: 1958-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersfc:315964

DOI: 10.22004/ag.econ.315964

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