The Tignish Credit Union was first created when The Tignish Fisheries Co-op sponsored their formation in 1937. This was done by the people because very few men could get a loan when needed back in those days. The Tignish Credit Union and it's methods were an instant hit. 30-40 people joined directly after the bank was formed. Members continued to grow; the next year there were 75 members, 181 members by 1939, and by 1980 there were an astounding 4,004 members!