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    Description

    Franklin D. Roosevelt: Typed Letter Signed as President.
    -April 3, 1933. Washington, D.C. One page, 7" x 9". White House letterhead.
    -To: Edward A. Filene, New York, New York.
    -With the usual fold creases, else very good.

    Among the first letters written by FDR during his first month as President. FDR writes: "Dear Mr. Filene:-/ Thank you very much for your letter of March 24th, enclosing advance copies of the research reports. I am delighted to have them and am talking it over with a number of people./ I do hope later on we shall have an opportunity to have a further talk about them./ Very sincerely yours,/ Franklin D. Roosevelt." This letter from FDR to Mr. Filene lays the groundwork for national credit union legislation. The story goes that Edward A. Filene discovered credit unions in a village in India in 1907. He observed a village credit union in operation and immediately was interested. Back home again, he began reading about credit unions to strengthen his knowledge and began promoting the idea in the U.S. In 1934, FDR signed the Federal Credit Union Act into law, authorizing the establishment of federally chartered credit unions in all states. Besides his creative approach to business, Filene was also one of the founders of the United States Chamber of Commerce. This letter from FDR to Mr. Filene is a critical indication of the time and attention the new President was putting into this initiative for federal legislation establishing credit unions and laid the groundwork for the passage of the Federal Credit Union Act in the next year.


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    Auction Dates
    December, 2008
    2nd Tuesday
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