Federal credit unions were established in the United States in 1934 when Congress passed the Federal Credit Union Act. They were an important part of helping average people during the tough times of the Great Depression. These financial cooperatives provide financial services to a group of people with a common bond, such as a defined community, employer or association. These cooperatives are governed by volunteers on the Board of Directors and Supervisory Committee. Credit unions are owned by the members. Email id based on pattern