A city of just 1.3 square miles, Central Falls, Rhode Island is filled with history. It ranges back to the times of the Industrial Revolution, but most importantly, it has been a “home away from home” for generations of immigrants from all over the world. From the first settlers from Canada and Europe to the more recent influx from Latin America making up nearly 70% of its population, Central Falls is the destination immigrants have sought to pursue the American dream.
Back in 1915, Rhode Island saw the birth of its first credit union, created to help the immigrant community. As French-Canadians made their way south to Central Falls, they quickly realized they had limited avenues available for financial support. Seeing a lack of financial institutions that met their basic needs, such as loans for homes and businesses, the community got together and created a credit union in the basement of their church.