CU-Vues: July 27, 2017

vuesNew York credit unions and the Second World War
The credit union movement had flourished in the 1930s, but a new decade brought a second world war and a new concern: inflation. The U.S. government attempted to curb inflation by issuing Regulation W, which limited the time allowed for repaying loans. It also severely restricted the granting of installment credit. Savings growth diminished, and the number of loans dropped. As a result, the organization of credit unions slowed, and many credit unions were forced to liquidate.

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