In the 1930s, the Great Depression dealt a devastating blow to Saskatchewan’s economy. Across the province, families and farms struggled to survive the financial hardships brought on by years of drought and crop failures. Denied support from the banks when they needed it most, Saskatchewan communities turned to each other to find a better solution.
Inspired by other co-operatives in the province, like the Saskatchewan Wheat Pool and Co-op Refinery, concerned citizens brought the credit union model forward to ease Saskatchewan’s economic woes. The movement quickly gained traction, and the Credit Union Act was passed in 1937.