Jeanne D’Arc Celebrates 100 Years and $1 Billion: Billionaire's Club
When you trace your roots to a time when Alphonse Desjardins was traveling around New England preaching the gospel of member-owned financial cooperatives, you’ve been around a while.
In the case of Jeanne D’Arc Credit Union in Lowell, Mass., that means more than 100 years. The credit union, which just surpassed $1 billion in assets, was founded in 1911 by French-Americans in an area of Lowell known as Little Canada.
JDACU, Cochran said, has always been a credit union for someone emerging financially, whether it’s an immigrant establishing roots in a new country in the early 1900s or a young person today just entering the financial sphere.
“Average age for our membership is 41,” Cochran said. “In the industry it’s older than that, about 47. The average age of new members joining the credit union is 32. I think there’s a consistency in the profile of a member then and today. It’s someone who is learning how to manage money and needs some guidance.”