The Credit Union Idea was born in 1849 when the mayor of a small village in Germany wanted to help people recover from the Napoleonic wars devastation. He planned for people to pool their small but regular savings and give out low interest loans. His plan worked well and the idea quickly spread across Europe. Credit Unions are non-profit organizations meaning that all net earnings will be returned to members in the form of dividends. The Credit Union is member controlled. Each member has one vote in the annual election of officers. Management is under the direct control of the Board of Directors. A detailed financial statement is posted in the credit union office monthly.