Commentary on the economy, the markets, and business

Madison, Wisconsin is the credit union capital of the world

Today's trivia fun fact comes from George Hofheimer of the Filene Research Institute. I was talking to him for this story about how credit unions have been faring amid the economic tumult, when I asked if his outfit was affiliated with the Credit Union National Association, a trade group. They're both on Mineral Point Road in Madison, I noted—pretty unlikely for there not to be a link. He laughed at my top-notch detective skill and explained that everyone who is anyone in credit unions is in Madison.

Back in the 1930s, when credit unions were just starting out, industry players were looking for a central location to plop down, and Madison, with its railroad, big land-grant university and ties to agriculture, seemed just right. Over the years, it became something of a stronghold. Now Madison is home to not only Filene and the CUNA, but also to the World Council of Credit Unions, the Credit Union Executives Society, and, of course, a whole mess of credit unions.

If you're at a dinner party and want to impress people with that knowledge, I won't be offended if I don't get credit for having pointed it out.

Barbara!

  • Print
  • Comment
Comments (1)
Post a Comment »
  • 1

    WI had (has?) a long tradition of local-level socialist politics. Hence all the credit unions. IMHO the far left has more to add to the debate about the future of capitalism than it's given credit for.

    Just sayin' (as a libertarian).

Add Your Comment:

You must be logged in to post a comment.
The Curious Capitalist Daily E-mail

Get e-mail updates from TIME's The Curious Capitalist in your inbox and never miss a day.

Quotes of the Day »

Get & Share
LORI HAAS, whose daughter was wounded in the 2007 Virginia Tech shootings, on a new report finding that officials warned their families more than an hour and a half before the rest of the campus and released locked-down students who were later killed