The first credit union in the U.S. was founded here in 1908 through the inspiration of Monsignor Pierre Hevey, pastor of Sainte-Marie Parish, who sought to improve the economic stability of French-speaking mill workers by giving them a safe and welcoming place to save and borrow money. Until 1913, it operated in the home of attorney Joseph Bolvin, its first president and manager. Initially open only in the evenings and on holidays, it grew into one of the state's most stable financial institutions.