Credit unions are not new. Originating in Europe, credit union history began in this country when the first credit union was formed in Manchester, New Hampshire, in 1909. Today, over 12,000 credit unions with $316 billion in assets serve 70 million people in the United States. More and more people join credit unions every year and they are pleased with the service. Credit unions have rated No. 1 in customer satisfaction at financial institutions for 10 years according to the American Banker Newspaper's annual customer satisfaction survey.