As part of our occasional series on influential credit union figures we are looking at Roy Bergengren, who was important in the history of American credit union development. In its turn the American movement had a role in influencing many Australian credit union pioneers.
While the US Cooperative Development Foundation declared Edward Filene the “father of the US credit union movement”, the World Council of Credit Unions (WOCCU) says that Filene put up the money, but Roy Bergengren “did most of the work”. Indeed, Ian MacPherson, writing for WOCCU declared that “The [Credit Union National Extension] Bureau depended upon the dynamic and resourceful leadership of Roy Bergengren; there is no doubt that he was the person most responsible for its success.”
Roy Frederick Bergengren (born June 14, 1879) was a native of Gloucester, Massachusetts and trained in law at Dartmouth College and Harvard University. He went on to practice law where he specialised in helping low income people. In 1911 he became Commissioner of Finance in the town of Lynn, Massachusetts.
He served as a Captain in the US ordinance corps during World War I. He didn’t go back into law or finance after returning home, instead he joined a candy venture. However, this didn’t last. Bergengren caught the eye of Edward A. Filene, a man of means, but also one of peace and goodwill who was looking for an organiser and a legal mind to help him expand the young US credit union movement. Filene initially hired Bergengren as Acting Manager of the Massachusetts Credit Union Association and their partnership went from strength to strength.
Together, Filene and Bergengren aimed to take their credit union development program nationwide. To this end they set up the Credit Union National Extension Bureau in Boston. The Bureau had four objectives:
- Secure the passage of credit union laws in all states
- Assist in the organisation of credit unions once appropriate legislation was in place
- Help organise state leagues
- Work toward the formation of a national association of leagues
With Bergengren providing the know-how, they topped their first objective by their work on the vitally important Federal Credit Union Act of 1934. The Act instituted a national US credit union movement and was the beginning of the USA’s parallel federal and state systems that are still operating successfully today.
They were also responsible for setting up the Credit Union National Association (CUNA) in 1934, which remains in operation. CUNA is the US equivalent of COBA and spawned CUNA International which became WOCCU and CUNA Mutual, the insurance arm which is today a separate entity.
An insight into Bergengren’s thinking is found in an article he wrote in 1929 called “Every Man His Own Money Lender”:
If there is value in eliminating a great social evil, if there is value in opening new vistas of opportunity for workers in America, if it is good in a republic to educate the masses of the people in the management of their own savings, then the credit union is in fact a contribution to further the common hope and aspiration of employer and employee.
It has become increasingly apparent that good citizens cannot be made of people harassed with debt and pursued by loan sharks. Our national progress is in a fair measure proportionate to the development of average happiness, average opportunity, and an average square deal. The credit union has demonstrated its usefulness in raising those averages higher and higher.
Roy F Bergengren passed away on November 11, 1955.
