Today we celebrate International Credit Union Day, a tradition that's brought credit unions together every October since 1948!
What is International Credit Union Day?
International Credit Union Day celebrates the power of financial cooperation and our commitment to putting people before profits. Today, more than 74,000 credit unions and cooperative financial institutions serve over 411 million people worldwide, creating pathways to financial opportunity and building brighter futures for communities everywhere.
The World Council of Credit Unions has chosen "Cooperation for a Prosperous World" as this year's theme, reflecting how credit unions advance economic well-being through collaborative financial services. Building on the UN's International Year of Cooperatives, this message underscores the impact of working together for shared success.
What makes credit unions unique?
Credit unions stand apart from traditional banks because they are not-for-profit, member-owned financial cooperatives. Instead of focusing on maximizing profits, credit unions reinvest earnings back into the membership through lower loan rates, higher savings yields, and fewer fees. This community-driven approach means every member has a voice, and decisions are made with people, not shareholders, in mind.
Credit unions are also guided by volunteer boards of directors, elected from the membership itself, which ensures leadership always reflects the best interests of the community. Beyond providing financial services, credit unions prioritize financial education, helping members and the public become more confident money managers. Over time, they have built a strong reputation for trust and resilience, giving members peace of mind that their money is safe.
International Credit Union Day is a reminder of the strength of cooperation and the positive change that happens when people come together.
NMLS #562301 
Comments