Meet Alphonse Desjardins, a credit union pioneer

In 1862, Friedrich Raiffeisen created cooperative banks to help farmers escape loan sharks

These cooperative banks offered fair loans and community-owned financial services. His vision spread worldwide, leading to credit unions with over 140 million members in the US alone today.

Five steps to start your credit union journey

Once you’ve decided you want to start banking with a credit union, you’ll need to fill out an application. This will ensure that you meet all of the institution’s membership requirements. You’ll need to hand over basic information like your name, address, date of birth, Social Security number, and your driver’s license. This tutorial walks you through the process so that you can make your first deposit in no time.

Credit reporting's earliest origins in the 1700s resemble a game of telephone, with rural merchants asking their most esteemed neighbors to vouch for them to sleuthing urban lenders

It would be decades before the system evolved into something more formulaic. For instance, New York City's Mercantile Agency—which was created to formalize information and rumors about borrowers, sorting the reports into enormous ledgers—wasn't started until 1841.

The concept of CDs dates back to the 1600s in Europe

Banks in the US started issuing CDs in the early 1800s as the banking system began to take shape following the Revolutionary War. The federal government did not formally insure CDs until the FDIC was formed in 1933.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Benjamin Franklin founded America's first lending library in 1731

Franklin convinced members of his intellectual club to pool resources and purchase books none could afford individually. The Library Company of Philadelphia was founded with 50 shareholders, each contributing 40 shillings, and served as the unofficial, de facto Library of Congress from the Revolutionary War until 1800.

The history of credit cards begins with the 'Fresno Drop.'

On a 1958 morning in Fresno, California, about 60,000 people woke up to find a strange rectangular piece of plastic on their doorstep without explanation. Those chosen for the "Fresno Drop" didn't know it yet, but Bank of America was behind the credit card delivery stunt.

Get the inside story of the duck hunt that birthed the Federal Reserve

Pseudo-duck hunters, private train cars in Hoboken, and a thrilling work week over Thanksgiving 1910—all and more are featured in the wild story of how a group of fed-up bankers and lawmakers tried to create an enduring central bank for the US. Records of the meeting managed to remain hidden for decades.

The first ATM—dubbed a 'cash dispenser'—was installed in 1967 in London

Specifically, the first ATM (which stands for “automatic teller machine”) made its debut at a Barclays bank in London. A timeline of ATM history can help illustrate and visualize other key events in ATM history.

The first recorded worker strike in the United States happened in 1768

That year, journeymen tailors went on strike to protest a wage reduction. By 1794, cobblers in Philadelphia formed the nation’s first trade union, the Federal Society of Journeymen Cordwainers. But that’s just the beginning of labor union history in the US.

Explore an alternative investments timeline

From what’s known as the first leveraged buyout, when JPMorgan acquired the Carnegie Steel Company, to the creation of the first-ever hedge fund, alternative investments have a long history.

How the Bank of Italy became Bank of America

Amid the devastation of the 1906 earthquake in San Francisco, Italian immigrant and local banker Amodei Giannini managed to keep hold of a substantial amount of currency. On a handshake, Giannini loaned needy locals money to rebuild. The enterprising banker would go on to form one of the first banks for the middle class, the Bank of Italy, which would go on to become the Bank of America in 1930. Read about the founder here.

Inside one credit union’s big NFL bet

Herndon, Virginia-based Northwest Federal Credit Union is working to bring credit unions into the spotlight. The relatively small institution just made a big splash when it struck an $8M-per-year naming rights deal with the Washington Commanders. Northwest is now the official credit union partner for the team and has turned FedEx Field into Northwest Stadium. Banking nerds and sports fans alike are paying close attention. Read this article to learn more.

American Express is credited with inventing the traveler's check

In the 1890s, then American Express President James C. Fargo was frustrated that he couldn't get cash while traveling in Europe outside of major cities. Marcellus Berry, an American Express employee, came up with the idea of a traveler's "cheque": a prepaid check, similar to cash, that requires the signature of both the customer and the receiving institution to be valid. American Express never modernized the spelling of the word "cheque" and stopped providing them at the end of 2020.

A New York farmer established the first cheese factory and revolutionized the industry

Jesse Williams, a farmer in New York state, had a passion for cheese but didn’t have the resources to produce it at the scale he desired. So, in 1851, Jesse and his son opened the first cheese factory, sourcing milk from multiple local farms and producing 100,000 pounds of cheddar—in their first season. Soon, Williams had hundreds of factories and created the prototype for cheesemaking as we know it today.

Visa Founder Dee Hock abruptly left the company in 1984.

Hock was arguably an unlikely candidate for the founder of one of the most successful banking organizations of all time. He grew up extremely poor in rural Utah without indoor plumbing, but would go on to create one of the most innovative financial technologies of the 20th century.

The Dow Jones & Company began as a small news service in 1882

Founded in 1882 by Charles Dow, Edward Jones and Charles Bergstresser, Dow Jones & Company started with hand-delivered market bulletins. Today it’s a global financial news giant, best known for publishing The Wall Street Journal.

How Sears helped create Discover Card

Sears owned the financial services company Dean Witter, which rolled out the Discover Card in 1986. The Discover Card is just one of many Sears inventions that seems to have outlasted Sears’ peak popularity, including Allstate Insurance and the clothing brand Lands End.

Charles Schwab kick-starts zero-commission era for retail investors

Throughout history, retail investing was often too expensive for many individuals. That’s because investors owed the cost of the trade as well as the commission and fees due to the broker. Charles Schwab revolutionized the retail investing landscape in 2019 when it announced it would slash all fees on stock trading. This quickly prompted other brokerages to follow suit. Read more in this article.

The 1935 Social Security Act drew inspiration from European social insurance models

Many of these, such as German Chancellor Otto von Bismarck's 1889 retirement system, emerged decades before America adopted them. This article dives into the modern history of economic security and the key legislation that created Social Security.

France's first restaurant guide helped spread the concept across Europe and the US

"Almanach des Gourmandes" was published in 1804 and featured restaurant reviews and dining advice, articulating the burgeoning restaurant culture of 19th-century France. The publication helped spread the concept and its values across the map, leading to more formalized restaurants in other countries.

The first identification of Alzheimer's was made in 1906

The first case of Alzheimer's disease dates to the early 20th century when Dr. Alois Alzheimer had 51-year-old Auguste Deter as a patient. Deter struggled with sudden memory issues and aggressive, irrational behavior. After Deter's death, Alzheimer examined her brain and found strange collections of molecular pileups.

There’s some confusion over who founded the Bavarian Brewery that later became Budweiser

While many traditional histories credit German immigrant George Schneider with founding the Bavarian Brewery in 1852, an investigation from St. Louis Magazine found that it was actually started in 1857 by a fascinating German physician named Dr. Adam Hammer.

The first Trader Joe's opened in California in 1967

Joe Coulombe was inspired by his travels outside the United States and wanted to open a store that offered some of the flavors he'd tasted abroad. Now, the store's unique products attract international visitors, who view it as a tourist destination.

Walter Camp revolutionized American Football

When Walter Camp was introduced to the game of football in the late 1800s, the rules weren’t set, the field wasn’t uniform, and the game was brutal. Camp joined early rules committees and was instrumental in shaping the modern game. Read this deep dive into Camp’s early life and influences, and find out how he established the line of scrimmage and the series of downs.

Alaska has the highest lifetime credit card debt of all US states at $484,620

That's 21.8% above the national average, partly due to Alaska's high cost of living and remote nature, which makes shipping in food and fuel more expensive. Iowa had the lowest average lifetime credit card debt out of all the states in the US at $319,740.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Hear about the 250-year history of the United States Postal Service, complete with some of its strangest deliveries, important innovations, and the figures that made it an American institution.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Meet the 56 signers of the Declaration of Independence—most of whom didn't put pen to paper until August 2, 1776—and see their original signatures.

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

A researcher recently discovered an interview from 1967 between groundbreaking journalist Joan Didion and the Grateful Dead, years before the band became an institution.

The first horror movie is believed to be George Méliès' 1986 short 'The Haunted Castle,' which pioneered the use of special effects

English mathematician Ada Lovelace wrote the first computer algorithm a century before computers existed and hypothesized that computing devices would one day be able to compose music—foreseeing the generative AI systems of today.

Legendary architect Frank Lloyd Wright designed the SC Johnson headquarters in Wisconsin, aiming to make a cathedral-like workplace

Watch this video that uses Lego bricks to explain how venture capital works.

The history of many kitchen appliances involves unexpected discoveries and applications, including wartime radar turned hamster defroster and replacing an 'ice king' with heat-stealing boxes.

Budweiser stores yeast derived from the original 1800s strain in a secret bunker, which only the Head of Yeast Management can access—not even the CEO

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

The Brothers Grimm were lawyers before they were storytellers, but became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

Before writing 'Walden,' transcendentalist Henry David Thoreau nearly burned down his hometown with a campfire that grew out of control.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

See the 25 of the best photos of auroras from around the world.

Crows are believed to have intelligence on par with a seven-year-old child and demonstrate complex behaviors, from problem-solving with tools to recognizing human faces.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.