America Celebrates 250 Years

The Spirit of Independence and the Credit Union Difference

Mark your calendar and gather your friends, because a summer evening full of music, food, and community spirit is coming your way.

Twelve score and ten years ago, our forefathers declared independence from Great Britain while simultaneously declaring themselves to now be the United States of America. It was a time of much fear, uncertainty and a dire need for development.

Part of developing this country’s newly found independence required creating a national currency to both facilitate trade and pay debts but also add to our burgeoning sense of national identity! Famously of course, Alexander Hamilton is know for building the Department of the Treasury from scratch, to relieve at least some of the debt from the Revolutionary War, as well as then setting up the basis for the United States Mint, to coin our own unique currency. However, it’s also worth remembering Ben Franklin’s contribution to our currency. In developing new coins, Franklin proposed a penny that bore the Latin word “Fugio” on the front-perhaps meaning “Time flies” (when paired with the engraving of a sundial on the same side), or referring to the coin itself, symbolizing how quickly money moves and reminding the holder to be industrious. A stark reminder in 2026, with current economic challenges and uncertainty as well as the final minting of the US Penny now done for several months.

Looking back at those same foundations, we can also see an early need for Credit Unions. Although not formally founded in Europe until the mid-1800’s and the first credit union does not open in the United States until the 1900’s, the early ideas of “banking” in the then-young United States showed a very real need for the community, values and assistance that credit unions provide. Early banks in the United States were often located in large, metropolitan cities; a challenge for the growing number of settlers. Additionally, these banks often had higher interest rates for loans, which made it difficult for settlers to establish themselves, often starting with so little in the first place. Although it would be another 130 years until the first credit union opened in the United States, the need for it was evident early on.

And so as we reflect on 250 years as a nation; the successes and hardships, lessons learned and sacrifices made, we also look ahead to the next 250 years! As we celebrate this very special semiquincentennial 4^th of July, let us also celebrate the values important to us as a nation and as a credit union: the value of Life, Liberty and Pursuit of Happiness, the value of independence and self-determination, and the sense of community within our towns, our states and our country!

Happy Independence Day, from Superior Choice Credit Union!