On Oct. 17, 2019, credit union members around the world will celebrate International Credit Union Day®, an annual event to commemorate the credit union movement’s impact and achievements. This year marks the 71st anniversary.
Credit unions are not-for-profit financial cooperatives that provide an effective and viable alternative to for-profit financial institutions for millions of members in 117 countries worldwide. More than 89,000 credit unions exist globally, providing a plethora of financial services for their members, recognized as a force for positive economic and social change.
Since 1948, International Credit Union Day has been celebrated annually on the third Thursday of October. Each year, the international event affords the opportunity to remember credit unions’ proud history and promote awareness of and support for the credit union and financial cooperative difference. This year’s International Credit Union Day theme is “Local Service. Global Reach.” It speaks to how each credit union serves a local community—and it is because of that local service in communities across the world that we have a global credit union movement that’s now 200+ million members strong. This day is a celebration of the impact credit unions and other financial cooperatives have made—and continue to make for their members. It is also a chance to be thankful for the lives and communities that have been improved by our movement.
Why do millions of people worldwide choose credit unions?
Because credit unions have a “people helping people” philosophy that drives them to constantly improve the lives of their members and their communities. We are member-owned, not-for-profit financial cooperatives that provide a safe, convenient place for members to save money, access loans, and other financial services at reasonable rates.
Credit unions exist to serve their members, not to make a profit.