Many years ago a gentleman by the name of Edward Filene discovered in the early 1900’s, that many people suffered financially as a result of borrowing from “Moneylenders” who took advantage of loaning at interest rates as high as 120%. Farmers at the time gathered together and decided to form somewhat of a “Cooperative” that could pool money together and in return make loans to people in need at manageable interest rates. These “Cooperatives” would soon become known as “Credit Unions”.